What caused Antofagasta to lower its 2026 copper output forecast?

Antofagasta cut its 2026 copper output estimate to between 625,000 and 655,000 metric tons from a previous forecast of 650,000 to 700,000 tons due to a shutdown at its Los Pelambres mine in July, triggered by extreme rains that led Chile's government to declare a 'state of catastrophe' in the Coquimbo Region.

How did copper prices affect Antofagasta's half-year financial performance despite lower production?

Antofagasta's half-year core earnings rose 27% to $2.84 billion in EBITDA, up from $2.23 billion a year earlier, as high copper prices — described as beneficial for this 'energy transition material' — offset the impact of lower production.

Antofagasta earnings boosted by copper prices despite output drop

Aug 12, 2026

Chilean miner Antofagasta reported a 27% rise in half-year earnings driven by high copper prices, but cut its 2026 output forecast after a mine shutdown caused by extreme rains.

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Antofagasta earnings boosted by copper prices despite output drop

Antofagasta earnings boosted by copper prices despite output drop

FAQ