Antofagasta Reports Q2 Copper Output Dip, Maintains Full-Year Guidance Amid Stronger H2 Outlook

Published: Jul 17, 2026 20:30

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Chilean copper miner Antofagasta reported on July 15 that its Q2 copper production edged down, reiterated its full-year production guidance, and expects stronger H2 output to drive achievement of the full-year target. In the three months to June 30, the company produced 142,000 mt of copper, down 0.7% QoQ, as a decline in output at the Antucoya mine offset performance at other mines. Q2 net cash cost climbed nearly 26% QoQ to $1.36 per pound. Antofagasta said quarterly production is expected to ramp up gradually over the remainder of the year, and maintained its 2026 copper production guidance at 650,000 to 700,000 mt and net cash cost guidance at $1.15 to $1.35 per pound.

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