LONDON (Reuters) -Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.
The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons. In 2024, it produced 664,000 tons of copper.
It said net cash costs stood at $1.32 per pound in the first half of the year, 32% lower than the same period of 2024, mostly on higher production.
The company left capital expenditure guidance for the year unchanged at $3.9 billion in 2025, up from $2.7 billion in 2024, as works on its Centinela concentrator peak.
Antofagasta operates four copper mines in Chile, and seeks to develop the Twin Metals copper and nickel mine in Minnesota, which was stalled after President Joe Biden’s administration blocked permits over environmental concerns.
CEO Ivan Arriagada on July 10 said he saw “an opportunity” to advance Twin Metals, following President Donald Trump’s move to impose a 50% import tariff on copper, reviving hopes for greater support of domestic mining projects.
Copper, a metal with high electrical and thermal conductivity, is essential in the power and construction sectors. Demand for it is expected to increase over time, driven by the expansion of the electric vehicle market and emerging applications, including AI-powered data centres.
Chile is the world’s biggest copper producer.
(Reporting by Clara DeninaEditing by Tomasz Janowski)
