Finance
Antofagasta reports flat 2024 copper output
Published by Global Banking & Finance Review®
Posted on January 16, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 16, 2025
1 min readLast updated: January 27, 2026
Antofagasta's 2024 copper production rises by 1% to 664,000 tons, below guidance. The 2025 outlook remains steady, with increased capital expenditure expected.
LONDON (Reuters) -Antofagasta on Thursday reported a modest 1% rise in its 2024 copper production to 664,000 metric tons, below its guidance, as higher production at its flagship projects was offset by lower grades.
The company had previously guided to a range of 670-710,000 tons versus 660,600 tons in 2023.
The Chilean miner, which operates four copper mines in Chile, left its 2025 output outlook unchanged at between 660,000 and 700,000 tons, as only an incremental production increase was expected at its Centinela site.
Copper's uses include energy transition applications such as solar panels and electric cars.
The London-listed producer reiterated it expects its capital expenditure to jump to $3.9 billion in 2025 from $2.7 billion last year, partly as work continues to develop a second Centinela concentrator.
(Reporting by Clara Denina; editing by Jason Neely)
The main topic is Antofagasta's 2024 copper production report, which shows a modest increase but falls below the company's guidance.
Antofagasta plans to maintain its 2025 copper output outlook and increase capital expenditure to $3.9 billion.
Copper is crucial for energy transition applications, including solar panels and electric cars, making production levels significant.
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