[Anglo Asian Mining Q3 copper output at 5,514 tonnes, 2026 guidance reaffirmed]

BHP and the supervisors' union at Chile's Escondida mine have reached a preliminary agreement to avert a strike at the world's largest copper operation. Union No. 2 members vote online between 9:15 and 11:30 a.m. local time; if they reject the offer, the stoppage would start Thursday at 8:00 a.m. local. The deal followed last-minute talks after earlier contract negotiations failed. Strike risk had supported copper prices on supply concerns; ratification would remove one near-term threat. Yet Chile's industry faces mounting operational risks: a deadly landslide at Codelco's El Teniente halted an open-pit section. GEM Mining Consulting's October study put average output at risk at Chile's biggest copper mines at 5.2%, with El Teniente at 9%, Los Pelambres at 8% and Escondida at 7.5%.

Rio Tinto's third-quarter production report, released on October 14, showed copper output of 205,000 tonnes, slightly above 204,000 tonnes a year earlier. Growth came mainly from the Oyu Tolgoi copper mine in Mongolia, where output rose 27% y-o-y. First-nine-month copper production totalled 646,000 tonnes, up 1% y-o-y. Iron ore output in Q3 was 74.573 million tonnes, above 72.949 million tonnes in Q2 and 74.168 million tonnes a year earlier; quarterly sales reached 90.8 million tonnes, mainly from the Pilbara operations in Australia. Nine-month iron ore output was 217.567 million tonnes, up from 210.124 million tonnes a year earlier. Other products: bauxite 15.7 million tonnes, alumina 2.1 million tonnes, and lithium carbonate equivalent 13,000 tonnes, up 4% y-o-y. Rio Tinto reaffirmed full-year iron ore sales guidance of 343-366 million tonnes for the 12 months to December, with production guidance for other commodities unchanged.

Antofagasta's Q3 copper output rose 7% q-o-q to 151,900 tonnes, as Los Pelambres produced 79,300 tonnes, up 17%, recovering from July weather disruption. The miner kept 2026 guidance at 625,000-655,000 tonnes and set 2027 guidance at 630,000-690,000 tonnes, on higher Los Pelambres grades partly offset by lower grades at Centinela Concentrates. Nine-month output fell 8% to 436,900 tonnes on weaker Centinela grades and recoveries. It raised 2026 cash costs before by-product credits to 2.60-2.70 USD/lb (5,732-5,952 USD/tonne) from 2.40-2.60 USD/lb on high diesel prices; net cash costs and capex held at 1.15-1.35 USD/lb and 3.4 billion USD. CEO Iván Arriagada said the Centinela and Los Pelambres growth projects are on track for 2027 commissioning; two Centinela unions struck after quarter-end.