Chilean-based miner Antofagasta has said its turnover for the first six months of the year fell 4.2 per cent to $2.66 billion dollars (£1.6bn).

Higher employee costs and a fall in the price of copper resulted in pre-tax profits dipping from $981m to $850.7m for the period to June 30, 2014.

However it added it remained on track to meet full year targets of recovering 700,000 tonnes of copper, 270,000 ounces of gold and 7,500 tonnes of the metal molybdenum, which is used to make steel.

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