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Antofagasta's bullish, cautious tone

As is its wont, Antofagasta (ANTO) was at pains to point out its "cautious approach" and "continued commitment to capital discipline" in full year results for 2016. The clearest markers of that trend were the 24 per cent drop in capital expenditure to $795m (£654m) - aided by the completion of the Antucoya project and expansion at Centinela - and a steely focus on mine site spend, which brought operating costs down by 11¢ per pound of copper.

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By Alex Newman,
14 March 2017

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