London-listed mining firm Antofagasta's copper production increased by 20pc on the year in the first quarter of 2025, primarily because of higher output at its two Chilean concentrators Los Pelambres and Centinela.
The company produced 154,700t in the first quarter, up by 19.6pc from the same period a year earlier. Copper sales increased by 47.1pc on the year to 170,200t in the first quarter.
First-quarter copper output at Los Pelambres increased by 26.4pc on the year to 69,900t, after pipeline maintenance work was undertaken in February last year.
First-quarter copper production at Centinela rose by 23.6pc on the year to 55,600t, with concentrate production rising by 56.1pc on the year to 35,900t, reflecting higher copper grades and ore processing rates, and cathode output decreasing by 10pc on the year to 19,800t.
First-quarter copper output at Antucoya rose by 3.1pc on the year to 20,200t, while production at Zaldivar decreased by 5.3pc on the year to 9,000t.
Group copper production for 2025 is expected to be in the range of 660,000-700,000t.
"The medium-term outlook for copper remains strong given its fundamental role in energy security and electrification, positioning it as a metal of the future. We remain well-positioned to meet the rising demand through our pipeline of projects currently under construction," the company's chief executive Ivan Arriagada said.
Antofagasta's molybdenum production increased by 14.8pc on the year to 3,100t in the first quarter, following higher molybdenum grades processed at Centinela. Molybdenum output increased by 60pc on the year to 800t at Centinela and by 4.5pc on the year to 2,300t at Los Pelambres.
Antofagasta operates four mines across Chile, the world's largest copper-producing country.
