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Released January 21, 2025 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Antofagasta Minerals (London, England), which operates primarily in Chile, missed its production goal last year and is maintaining similar guidance for this year.
Antofagasta announced a total copper output of 664,000 tons, about 0.5% more than in 2023, but below the guidance for 2024, set between 670,000 and 710,000 tons. The company did not specify the reason behind the lower-than-expected volumes but said it experienced lower grades at the Centinela Concentrates.
However, for this year, Antofagasta expects a copper production guidance between 660,000 and 700,000 tons across its four operations. The mining company owns the Los Pelambres, Centinela, Antucoya, and Zaldivar mines in Chile.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the related profiles.
Regarding other metals, Antofagasta produced 187,000 ounces of gold, about 11% less than last year, due to lower grades from the Centinela Concentrates. Molybdenum production was in line with the previous year at 10,700 tons.
"Our key development projects at Los Pelambres and Centinela continue to advance according to their respective programmes, on time and budget. Once completed, these projects will deliver industry-leading copper growth, whilst also increasing competitiveness and delivering a solid platform for further growth over the longer term," highlighted Ivan Arriagada, chief executive officer of Antofagasta.
The company also expects to invest US$3.9 billion in 2025, led by the construction of a second concentrator and other developments at Centinela and projects at the Los Pelambres mine.
Antofagasta is constructing a second concentrator and tailings deposit at the Centinela mine. The new concentrator will produce about 170,000 tons of copper equivalent per year during the first 10 years of operation. The company also contemplates an optional second phase with the potential to add an extra ore processing rate of 55,000 tons per day to reach a total capacity of 150,000 tons per day at the second concentrator.
Subscribers to the GMI Project Database can click here for projects linked to the Centinela operation.
Meanwhile, at the Los Pelambres mine, the company is expanding its processing capacity from 175,000 tons per day to 190,000 tons per day. This will include the construction of a desalination plant and a water pipeline from the coast to the El Mauro tailings storage facility. Another key project at Los Pelambres is the extension of the mine's life for another 15 years.
Click here for project reports tied to the Los Pelambres expansion.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Antofagasta announced a total copper output of 664,000 tons, about 0.5% more than in 2023, but below the guidance for 2024, set between 670,000 and 710,000 tons. The company did not specify the reason behind the lower-than-expected volumes but said it experienced lower grades at the Centinela Concentrates.
However, for this year, Antofagasta expects a copper production guidance between 660,000 and 700,000 tons across its four operations. The mining company owns the Los Pelambres, Centinela, Antucoya, and Zaldivar mines in Chile.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the related profiles.
Regarding other metals, Antofagasta produced 187,000 ounces of gold, about 11% less than last year, due to lower grades from the Centinela Concentrates. Molybdenum production was in line with the previous year at 10,700 tons.
"Our key development projects at Los Pelambres and Centinela continue to advance according to their respective programmes, on time and budget. Once completed, these projects will deliver industry-leading copper growth, whilst also increasing competitiveness and delivering a solid platform for further growth over the longer term," highlighted Ivan Arriagada, chief executive officer of Antofagasta.
The company also expects to invest US$3.9 billion in 2025, led by the construction of a second concentrator and other developments at Centinela and projects at the Los Pelambres mine.
Antofagasta is constructing a second concentrator and tailings deposit at the Centinela mine. The new concentrator will produce about 170,000 tons of copper equivalent per year during the first 10 years of operation. The company also contemplates an optional second phase with the potential to add an extra ore processing rate of 55,000 tons per day to reach a total capacity of 150,000 tons per day at the second concentrator.
Subscribers to the GMI Project Database can click here for projects linked to the Centinela operation.
Meanwhile, at the Los Pelambres mine, the company is expanding its processing capacity from 175,000 tons per day to 190,000 tons per day. This will include the construction of a desalination plant and a water pipeline from the coast to the El Mauro tailings storage facility. Another key project at Los Pelambres is the extension of the mine's life for another 15 years.
Click here for project reports tied to the Los Pelambres expansion.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
