Shares in Antofagasta were up on the FTSE 100 in afternoon trading after the mining company said its revenue in the nine months to 30 September had risen by over 50 per cent.

Group revenue rose from just over two billion in the nine month period last year to $3.2 billion.

The rise was attributed to higher prices for copper and molybdenum and higher sales volumes of copper.

Copper prices on the London Metal Exchange averaged 352.2 cents per pound in the period, up from 211.5 cents per pounds last year. In addition Antofagasta sold 388,400 tonnes of copper in the period, up 20.3 per cent from the same period last year.

Prices of molybdenum rose from an average of $10.9 per pound last year to $15.7 per pound.

Group EBITDA was reported as rising in the period from $1.1 billion to less than two billion dollars.

By 13:25 shares in Antofagasta were up 0.36 per cent on the FTSE 100 to 1,378.00 pence per share.