Antofagasta Posts Rise In 2011 Profit

Antofagasta PLC

reported a rise in its profit in 2011. Antofagasta's net profit climbed to $1.24 billion, from $1.05 billion in 2010. However, analysts were expecting a net profit of $1.29 billion. Its sales surged 33% to $6.08 billion. Antofagasta's earnings before interest, taxes depreciation and amortization jumped 32% to $3.66 billion, versus analysts' estimates of $3.68 billion. Antofagasta projects to produce around 700,000 metric tons of copper in 2012, versus 640,500 tons in 2011. Antofagasta shares closed at $39.67 yesterday.