Antofagasta Minerals reported copper production of 152,000 tonnes in the third quarter of 2026, the highest quarterly figure so far this year. According to IIR News Intelligence (author Amir Richani), total production between January and September reached 437,000 tonnes. With these volumes, the company expects to meet its 2026 production guidance of between 625,000 and 655,000 tonnes.
Chief executive officer Iván Arriagada said that group production in the quarter rose by 7%, reaching 151,900 tonnes. He explained that the Minera Los Pelambres mine had to cope with the impact of a severe weather front in the Coquimbo region, of an intensity never recorded before. According to Arriagada, the operation demonstrated resilience in the safe restart of production and was able to ship the concentrate stocks that had accumulated in the previous period.
In the third quarter the company also produced 44,300 ounces of gold and 2,900 tonnes of molybdenum. In the first nine months of the year, total volumes amounted to 137,000 ounces of gold and 9,000 tonnes of molybdenum. For 2027, Antofagasta expects copper production of between 630,000 and 690,000 tonnes, supported by higher grades at the Los Pelambres mine in Chile.
The company also estimates that the Los Pelambres and Centinela projects could increase copper production by 30% by the end of the decade. According to data from Industrial Info Resources, Antofagasta Minerals has 29 copper-related projects under way in Chile and the United States, with total investments of $10 billion. Of these, 11 projects concern the Los Pelambres and Centinela mines, including expansions, upgrades and new installations, for a value of $2.35 billion.
Arriagada said construction of the main Centinela and Los Pelambres projects is progressing well and that both are in the final phase, with commissioning expected next year, as originally planned. On the labour front, on October 18 Minera Centinela announced a new contract agreement with two unions, ending the strike that began on October 7. The two unions represent 22% of Centinela's direct workforce.
The new contract has a duration of 36 months and provides financial benefits for union members. Nicolás Rivera, general manager of Minera Centinela, described the agreement as a positive outcome for the company and for the workers, stressing that responsible dialogue made it possible to overcome differences while respecting the autonomy of each union. The source does not report data on copper prices, inventories or trends in reference markets.
The article is based on the company's quarterly statement and on the analysis by IIR News Intelligence.
Source: industrialinfo.com