The copper miner’s pretax profit rose 72% on the same period last year to $2 billion. Earnings before interest, taxes, depreciation and amortization climbed 27% to $2.84 billion while operating cash flow jumped 53% to $2.77 billion. These results were driven by a 36% rise in copper prices and a 46% increase in gold prices.

Antofagasta’s first‑half earnings jumped on higher prices, which helped offset a rise in operating costs, but the company cut its full‑year production outlook after severe weather in Chile temporarily closed a mine.

The miner now expects full‑year copper production between 625,000 to 655,000 metric tons after production at its Los Pelambres mine north of Santiago was temporarily stopped due to heavy rain and power outages. Production resumed after a few days, but guidance was trimmed from a prior target of 650,000 and 700,000 metric tons.

The FTSE 100‑listed miner will pay a dividend of 30.1 cents a share, up from 16.6 cents a share in the first half of last year, and will keep its cash cost and capital expenditure guidance unchanged.