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Antofagasta plc : Chile Antofagasta CEO Predicts 2013 Copper Prices Similar to Those in 2012
10/31/2012| 07:46am US/Eastern
SANTIAGO, Chile--Copper prices will likely remain relatively steady into the first half of 2013, the chief executive of Chilean copper miner Antofagasta PLC (ANTO.LN) said Wednesday.
With tight market conditions as miners have been grappling with falling ore grades and rising costs, copper prices this year have held above $3.50 a pound.
"Market participants are taking a wait-and-see attitude," chief executive Diego Hernandez told reporters.
He noted new production is expected to come on line in the second half of 2013, which could create a small copper surplus next year.
"We don't foresee 2013 prices as being very different from what they are now," Mr. Hernandez said.
Write to Carolina Pica at carolina.pica@dowjones.com
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