First Quantum Considers Selling Stake in Taca Taca Copper Mine Amid Global Supply Rush

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.

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.

BHP Group reported on July 16 that its copper production in Q4 of FY2026 fell 5% YoY, dragged down by output declines at Escondida and Pampa Norte.The world’s largest listed miner produced 491,900 mt of copper in the quarter ended June 30, down from 516,200 mt a year earlier.Total copper production for FY2026 was 1.95 million mt, down 3% from 2.02 million mt in FY2025, but marking the second consecutive fiscal year near the 2-million-mt level.Full-year output at Escondida, the world’s largest copper mine, was 1.2612 million mt, a 3% YoY decline. Pampa Norte (including the Spence mine) saw a steeper drop, falling 21% to 212,600 mt.