Q4 copper production sparks at Antofagasta
By Abigail Townsend
Date: Thursday 29 Jan 2026
(Sharecast News) - Blue chip miner Antofagasta posted a spike in fourth-quarter copper production on Thursday, and forecast further growth for the in-demand base metal.
The Chile-focused copper miner said copper production rose 9.4% in the final three months of 2025, to 653,7000 tonnes, while gold soared 23% to 66,300 ounces. Over the year, gold production rose 13.1% to 211,3000 ounces.
Copper was down 1.6% in 2025, at 653,700 tonnes, due to rising output at Antofagasta's Centinela Concentrates mine and lower contributions at Centinela Cathodes and Los Pelambres.
However, looking to the current year and Antofagasta forecast an increase in production, of between 650,000 and 700,000 tonnes.
Copper prices have soared in recent months, fuelled by strong demand and concerns about supply, as a number of mines start to age.
Ivan Arriagada, chief executive, said: "Copper's outlook remains compelling. Rising demand is being driven by energy security, electrification and increasing uptake of modern technologies, while supply growth remains constrained.
"We enter the new year with confidence in our ability to deliver safe production alongside the disciplined execution of our portfolio of growth and development projects."
Antofagasta said the construction of projects at Centinela and Los Pelambres was set to complete in 2027, which would add 30% growth in copper volumes over time. Centinela is major open pit copper and gold mine in northern Chile. Los Pelambres, in north central Chile, is one of the largest copper reserves in the world.
Chile is the world's largest copper producer.
As at 0830 GMT, shares in Antofagasta were trading up 7% at 3,953.23p.
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