Antofagasta targets 650,000 to 700,000 metric tons of copper for the year, after reporting 142,000 metric tons in Q2—a 0.7% decline from the prior quarter. Net cash costs rose nearly 26% to $1.36 per pound, driven by lower output at the Antucoya mine.

Copper, the company’s core commodity, has been buoyed by rising demand and supply shocks at major mines. Record prices in the period reflect robust demand and a tightening supply outlook, underscoring the strength of copper fundamentals.

The company remains confident of sequential production increases for the rest of the year and projects net cash costs to stay between $1.15 and $1.35 per pound. Antofagasta’s CEO, Ivan Arriagada, reiterated that cydc fundamentals remain strong and that the company is well positioned to meet its full‑year targets.

With a clear outlook and disciplined cost management, Antofagasta is poised to capitalize on the sustained demand for copper across global markets.