Codelco Expects Copper Production to Stay Steady, Aiming for 1.7M mt by 2030 After Recent Slump

Data released on Wednesday by Anglo Asian, a producer of copper, gold and silver, showed that its copper production in Q2 this year increased 27% QoQ to 5,129 mt, a sharp 87% YoY increase.In the quarter, its gold production rose 3.4% QoQ to 6,272 ounces, up 2.9% YoY; silver production was 50,059 ounces, up 36% YoY.All of the company’s operations are located in Azerbaijan.Anglo Asian stated that it maintains its full-year production guidance, targeting copper production of 20,000-25,000 mt, gold production in the range of 28,000-33,000 ounces, and silver production between 170,000-210,000 ounces.

First Quantum Minerals is considering selling a minority stake in its Taca Taca copper mine project in Argentina. The move comes as major global mining companies and strategic investors race to secure future copper supply.According to US media reports, the company has initiated this potential sale process.Potential bidders include Japan's Mitsubishi Corp. and Mitsui & Co., among others.

H1 2026 copper equivalent (CuEq) production was up 3% YoY. The Oyu Tolgoi ramp-up plan progressed steadily, with H1 output up 31% YoY.Overall copper production in Q2 was 213,000 mt, down 7% both QoQ and YoY, mainly due to lower output from Rio Tinto’s Kennecott and Escondida mines.Additionally, the 2026 copper C1 net unit cost guidance was lowered to 30-50¢/lb (previously 65-75¢/lb).Aluminum business, the supply chain performed steadily, and bauxite recovered strongly. Q2 aluminum production rose 1% QoQ to 840,000 mt; bauxite production rose 14% QoQ to 15.2 million mt.