Antofagasta, a leading Chilean copper producer, operates four mines: Los Pelambres, Centinela, Zaldívar and Antucoya. The company produces copper as its primary metal, with molybdenum and gold as by-products. All figures are based on company announcements.
Total copper production for the first half of 2026 reached 285,000 tonnes, a 9.5% decline year-on-year. First-quarter output was 143,000 tonnes and second-quarter output 142,000 tonnes, representing a marginal 0.7% decrease quarter-on-quarter.
Molybdenum production for the half-year totalled 6,100 tonnes, down 17.6% year-on-year, with 3,000 tonnes produced in Q1 and 3,100 tonnes in Q2. The decline is directly linked to lower copper head grades.
Gold production for the first half totalled 92,800 ounces, essentially flat year-on-year. Quarterly gold output showed minimal variation, with a slight increase in Q1 followed by a modest decline in Q2, supported by stable gold by-product grades.
The company maintained its full-year 2026 production guidance: 650,000 to 700,000 tonnes of copper, 12,500 to 14,000 tonnes of molybdenum, and 215,000 to 235,000 ounces of gold. Management expects copper and molybdenum throughput to increase sequentially in the second half, driven by higher-grade mining areas and the completion of all concentrator maintenance work. Ongoing investments in desalination and concentrate pipeline infrastructure at Los Pelambres are expected to support long-term capacity growth, with full-year output projected to approach the upper end of the guidance range.
Post time: Jul-20-2026
