Antofagasta Notches Higher Copper, Gold, Molybdenum Output

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Antofagasta Minerals (London, England) reported a combined copper production of 160,100 tons across its operations during the second quarter, roughly 3.5% higher when compared with the first quarter and 3% higher when compared with the same period last year. During the first half of the year, Antofagasta recorded 315,000 tons of copper, a 10.6% increase year-over-year.

The robust operational status was achieved through higher output from the Centinela and Los Pelambres Concentrators in Chile.

At Los Pelambres, the company recorded 73,300 tons of copper, 4.9% ahead of second-quarter 2024, due to higher copper grades and recovery. At the same time, Antofagasta continues trenching excavation and pipeline construction for the new concentrate transport system and water line at the asset.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a full list of detailed reports for projects related to Los Pelambres.

During the current quarter, the company Antofagasta expects to proceed with work on the 33-kilovolt (kV) power line and electrical room of the substation at the El Mauro tailings facility. The company's Centinela mine saw a 9% quarterly production increase, closing at 60,600 tons, which represents a 26.2% increase from the same quarter last year. This resulted from higher copper concentrate production, offset by lower cathode production. Subscribers can click here for a full list of detailed reports for projects related to Centinela.

The robust operations from those two mines helped compensate for the lower production at the Antucoya and Zaldívar assets. During the second quarter, however, the company received the approval to extend the Zaldivar's mine life until 2051.

Copper production guidance for this year will remain unchanged at 660,000 tons to 700,000 tons, while capital expenditures across the Zaldivar project are estimated to be US$3.9 billion for all of 2025. Subscribers can click here for a full list of detailed reports for projects related to Zaldivar.

Meanwhile, gold production in the second quarter was 48,300 ounces, 12.6% higher than last quarter and 43.7% more than the same period last year. Similarly, molybdenum volumes rose 41.9% from the first quarter to 4,400 tons.

"We delivered increased production at our two largest copper mining districts, Los Pelambres and Centinela," said Ivan Arriagada, the chief executive officer of Antofagasta, in a press release. "On a quarter-on-quarter basis, Group-level copper production increased by 3% (11% compared to the prior year period) and net cash costs fell by 27% (32% compared to the prior year period), with costs benefiting from gold and molybdenum by-products."

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