Chilean miner Antofagasta has increased its copper output for the first half of 2025 due to stronger performance of its Centinela and Los Pelambres projects.
In the first half of 2025, production rose 11% to 314,900 tonnes year-on-year, while in the first quarter it increased by 3% to 160,100 tonnes. This reflected stronger mine output, partly offset by reduced production at cathode operations.
“Our pipeline of copper growth and development projects at both Centinela and Los Pelambres continues to advance on time and on budget, with recent market movements in by-product pricing strengthening the investment case for these projects,” Mining Weekly quotes Antofagasta CEO Iván Arriagada as saying.
“Our conviction in copper as the metal of the future remains, with a positive outlook for copper over the medium term. We see continuing demand support in the form of rising uses from key strategic sectors, driven by accelerating structural trends, such as energy security and modern technologies needed for decarbonisation, AI and infrastructure, with a supply-side that is becoming increasingly constrained.”
The company’s net cash costs declined by 27% quarter-on-quarter thanks to the increased output of gold and molybdenum by-products. Gold production rose by 13% quarter-on-quarter to 48 300 ounces, while molybdenum output was up 42% to 4,400 tonnes.
Antofagasta retained its full-year copper production guidance at 660,000 - 700,000 tonnes. Capital expenditure guidance for the year also remained unchanged at $3.9 billion.
Theodor Lisovoy, Managing Editor, Rough&Polished
