Antofagasta reported broadly stable second-quarter copper production and maintained its full-year production, capital expenditure and net cash cost guidance on Wednesday, despite inflationary pressures across the mining sector.
Antofagasta
15 July 2026 09:32:06
Source: Sharecast
Copper output totalled 142,000 tonnes in the three months to 30 June, down 1% on the first quarter, while first-half production fell 9.5% year-on-year to 285,000 tonnes, with higher output expected over the remainder of the year as grades and throughput improve.
The FTSE 100 miner said first-half net cash costs fell 7.6% year-on-year to $1.22 per pound as stronger by-product credits more than offset higher underlying costs, although cash costs before by-product credits rose 22.8% to $2.85 per pound.
Chief executive Iván Arriagada said construction of the Centinela Second Concentrator and Los Pelambres growth projects remained on track for commissioning next year, while a $0.9bn investment in Zaldívar's long-term water supply would support a potential mine life extension to 2051.
At 0903 BST, Antofagasta shares were down 2.16% at 3,758.55p.
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