Chile: Antofagasta’s copper output rises 9% q-o-q in Q4CY’25, full-year production dips marginally

Chilean miner Antofagasta reported Q4CY’25 copper production of 177,000 t, up 9% q-o-q, supported by higher output across all operations. However, full-year CY’25 production fell 1.6% y-o-y to 653,700 t. Net cash costs dropped sharply by 27% y-o-y to a five-year low of $1.19/lb, aided by strict cost control and robust by-product credits. The miner’s CY’26 copper output stood at 650,000-700,000 t.