Quarterly Production Figures

Antofagasta PLC
30 April 2001







Antofagasta plc

Quarterly Production Report

1st quarter 2001



30 April 2001





Highlights

*    Group copper production in Q1 of 92,000 tonnes compared with 82,300
tonnes in Q1 2000

*         El Tesoro mine over 98% completed and production ramp-up has started


Group Total                Q1   Q2    Q3    Q4       Acc.        Acc.      Full 
                                                                           Year

                           2001 2001  2001  2001     2001        2000      2000

Total copper production    92.0                       92.0        82.3     351.1
('000 tonnes)

Weighted average           43.2                       43.2        38.7      39.2

Cash costs (cents per pound)



Los Pelambres

Ore processing levels at Los Pelambres averaged 98,500 tonnes per day ('tpd')
during the first quarter of the year, compared with an average of 93,100 tpd
in 2000 and 106,200 tpd in the fourth quarter of 2000.  Processing levels were
affected by unscheduled repair work carried out and lower performance at the
SAG mills due to a greater quantity of pebbles than expected. The necessary
adjustments to regain target levels of 100,000-110,000 tpd are now being made.



Cash costs in the first quarter were 39.2 cents per pound compared with an
average of 35.6 cents per pound during 2000.  Cash costs in the quarter
reflect higher TC/RCs (treatment and refining charges) and a higher stripping
ratio at the current Phase 3 of the open pit as anticipated, but were also
affected by the repair costs incurred in February.



Michilla

Michilla produced 11,500 tonnes of cathodes in the first quarter of 2001
compared with 12,600 tonnes in Q1 2000.  The marginal decrease in production
reflected lower ore grades under the current mine plan, as well as a fault in
one of the four transformers of the EW plant, which has now been repaired.
Higher recoveries are expected to compensate for lower grades, with production
for the year estimated to be around 50,000 tonnes.



Cash costs in the first quarter were 71.6 cents per pound, compared with an
average of 59.8 cents per pound during 2000.  The increase represents lower
grade and higher stripping costs under Michilla's mine plan combined with
lower production levels resulting from the transformer fault during the
quarter.



El Tesoro

Construction of El Tesoro was 98.3 per cent completed at the end of March, and
testing of equipment carried out to date at the mine and plant has proved
satisfactory.  The project remains within budget and ahead of schedule. By 27
April, El Tesoro produced its first 400 tonnes of cathodes and by 30 April
expects to have produced 1,000 tonnes.



Transport

Rail tonnages represent the combined Chilean and Bolivian operations.
Tonnages remained at similar levels with 905,000 tons carried in the first
quarter compared to 893,000 tons for the combined operations in the first
quarter of 2000.


Los Pelambres              Q1   Q2    Q3    Q4         Acc.     Acc.       Full 
                                                                           Year
                          2001 2001  2001  2001        2001        2000    2000

Daily average ore treated 98.5                         98.5        84.7     93.1
 ('000 tonnes)

Average ore grade         1.04                         1.04        1.04     0.98
(%)

Average recovery          91.6                         91.6        91.4     92.4
(%)

Concentrate produced     194.6                        194.6       158.5    714.5
('000 tonnes)

Average concentrate grade 42.8                         42.8        44.8     43.3
(%)

Fine copper in            83.2                         83.2        71.0    309.5
concentrate
('000 tonnes)

Payable copper in         80.5                         80.5        68.6    298.9
concentrate
('000 tonnes)

Cash costs                39.2                         39.2        34.9     35.6
(cents per pound)


Michilla                 Q1    Q2    Q3    Q4          Acc.        Acc.     Full
                                                                            Year
                         2001  2001  2001  2001        2001        2000     2000

Daily average ore        11.6                          11.6        12.1     11.8
treated
 ('000 tonnes)

Average ore grade        1.53                          1.53        1.72     1.67
(%)

Average recovery         72.4                          72.4        74.5     72.6
(%)

Copper cathodes          11.5                          11.5        12.6     51.1
('000 tonnes)

Payable copper in        -                              -           1.1      1.1
concentrate
('000 tonnes)

Cash costs               71.6                          71.6        58.8     59.8

(cents per pound)


Transport                Q1    Q2    Q3    Q4          Acc.        Acc.    Full 
                                                                           Year
                         2001  2001  2001  2001        2001        2000    2000

Rail tonnage transported 905                            905         893   3,856





Enquiries:

Alejandro Rivera

[e-mail]

Santiago: (56-2) 3775145



Hussein Barma

[e-mail]

London: (44-20) 73748091





Distributed by:



Keith Irons



Bankside Consultants Ltd

[e-mail]

London:  (44-20) 72207477