Antofagasta keeps output guidance but lifts its cost forecast
Antofagasta reported copper output up 7% quarter on quarter, gold down 4.3%, and kept its full-year copper target while raising cash cost guidance.
- published
- in the api
- on the website
on the website stories appear 15 minutes after publication, in the api at once. connect the api →
what happened
According to Sharecast, Antofagasta’s copper production rose 7% quarter on quarter to 151,900 tonnes, helped by higher output at Los Pelambres. Copper sales jumped 30.5% to 170,700 tonnes. Analysts had expected a slightly larger production increase, to 155,000 tonnes. Gold output fell 4.3% to 44,300 tonnes, reflecting lower grades at Los Pelambres and Centinela Concentrates, where workers have recently begun industrial action. Year to date, copper production dropped 8.3% to 436,900 tonnes.
For the full year, the company left its copper production forecast unchanged at 625,00 to 655,000 tonnes. It raised cash cost guidance before by-product credits to $2.60–$2.70 a pound from $2.40–$2.60, citing a spike in global diesel prices. As of 10:00 BST the shares were down 6% at 3,347p.
why it matters
Higher fuel costs weigh on copper producers’ margins, which can affect how investors value the sector. AJ Bell’s Dan Coatsworth said a tech-driven slide in copper prices triggered a sell-off across base metal producers, with concerns over AI-related debt adding to doubts about future copper demand.
tags
instruments
sources
- Antofagasta reiterates production guidance, raises costs forecast — sharecast.com, 15 October 2026 at 10:09 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
on the website stories appear 15 minutes after publication, in the api at once.
get stories in real time ↗