LONDON (Reuters) -Antofagasta on Thursday reported a modest 1% rise in its 2024 copper production to 664,000 metric tons, below its guidance, as higher production at its flagship projects was offset by lower grades.
The company had previously guided to a range of 670-710,000 tons versus 660,600 tons in 2023.
The Chilean miner, which operates four copper mines in Chile, left its 2025 output outlook unchanged at between 660,000 and 700,000 tons, as only an incremental production increase was expected at its Centinela site.
Copper’s uses include energy transition applications such as solar panels and electric cars.
The London-listed producer reiterated it expects its capital expenditure to jump to $3.9 billion in 2025 from $2.7 billion last year, partly as work continues to develop a second Centinela concentrator.
(Reporting by Clara Denina; editing by Jason Neely)
