Chilean mining company Antofagasta Minerals reported fine copper production of up to 476,600 tons between January and September 2025, an increase of 3% over the same period of the previous year. This result is mainly attributable to the good performance of Minera Centinela, one of its main operations.
The best performance in fine copper production
During the third quarter, the company was able to maintain production in line with expectations, while operating costs showed a downward trend. This contribution from by-products such as gold and molybdenum allowed us to reduce the net cathode cost by more than 30% with respect to the previous year, reaching levels between US$1.20 and US$1.30 per pound.
Expansion initiatives at Centinela and Los Pelambres continue to be developed within budget. It also expects these projects to increase the group’s production capacity by 30% in the medium term, benefiting from an increase in the generation of by-products.
Although annual production will be at the lower end of initial estimates, Antofagasta Minerals anticipates an increase in ore grades and volumes treated by Minera Los Pelambres during the last quarter. In addition, the depreciation of the Chilean peso has allowed adjusting the expected capital expenditure for this year to US$3.6 billion.
Iván Arriagada, executive president of the group, mentioned that copper fundamentals remain solid. Factors such as electrification, energy security and the development of advanced technologies, such as artificial intelligence, continue to drive demand. However, he also warned about global supply disruptions and declining ore grades, which could affect the metal’s long-term availability.
Looking ahead to next year, Antofagasta Minerals estimates that its production will be between 650,000 and 700,000 tons of fine copper, thus consolidating its position as one of the main players in the international copper market. international copper market..
Source and photo: Antofagasta Minerals
