Antofagasta PLC Reports 9‑Month Copper Production Growth Amid Guidance‑Aligned Outlook

London, 23 October 2025 – Antofagasta PLC (ANTO.L) announced that its copper production for the first nine months of 2025 rose to 476,600 tonnes, a 3 percent increase year‑on‑year. The uptick was largely attributed to higher output at the Centinela Concentrates facility, reinforcing the company’s operational efficiency across its Chilean portfolio.

Production Highlights

  • 9‑Month Production: 476,600 tonnes, up 3 % YoY
  • Centinela Concentrates: Significant contributor to the increase, reflecting improved processing throughput
  • Q3 Output: Aligned with the lower end of the firm’s 2025 guidance, as noted in the Q3 production report released concurrently with the production data

The company’s guidance for full‑year 2025 copper output remains at the lower end of its earlier forecast band. This conservative stance reflects the volatile nature of global copper demand, tempered by recent price movements and the firm’s focus on maintaining a balanced inventory and cost base.

Market Reaction

Shares of Antofagasta dipped 1.6 % in early London trading, falling to a low of £35.00 before closing at £35.95. Trading volume rose 4 % compared to the average daily volume, indicating heightened investor interest in the company’s operational updates. The modest sell‑side pressure was offset by broader market gains in the FTSE 100, buoyed by strong performances from oil majors following recent U.S. sanctions on Russian energy firms.

Strategic Context

Antofagasta’s operations are concentrated in Chile, where it owns and operates copper mines and manages ancillary services such as railway logistics and water distribution. The company’s exploration activities extend into Peru, positioning it to capture additional value from emerging deposits. Recent developments in the Antofagasta region, including the issuance of diamond drill permits for the Cuprita Project by Nobel Resources, signal continued interest in expanding copper supply chains within the area.

Forward‑Looking Assessment

Despite a modest short‑term decline in share price, Antofagasta’s production growth and adherence to guidance suggest a resilient operational framework. The firm’s diversified asset base, coupled with its strategic focus on cost efficiency and supply chain integration, positions it well to navigate the cyclical nature of the metals market. Investors should monitor the company’s forthcoming annual report for further detail on its capital allocation strategy and exploration pipeline, which will provide deeper insight into Antofagasta’s long‑term growth trajectory.