INSUBCONTINENT EXCLUSIVE:
Chilean mining company Antofagasta, owned by the powerful Luksic Group, increased its copper output by 11% in the first half of 2025,
reaching 314,900 metric tons.This came from stronger production at its main processing plants, especially at Los Pelambres and Centinela
tons.At the same time, mining costs dropped sharply
Antofagasta reported net cash costs of $1.32 per pound of copper, down 32% from a year ago.The company credits higher plant efficiency and
stable operations for this improvement
Lower costs allow it to stay competitive as global demand for copper continues to rise.Copper is essential for key industries like electric
vehicles, power grids, and digital infrastructure
To keep that edge, the miner is investing heavily
Its capital spending in 2025 will total $3.9 billion, up from $2.7 billion in 2024.Most of that investment is going into expanding capacity
The upgrades should help lift future output and maintain cost control as ore grades shift and operating challenges grow.Chile supplies about
Antofagasta runs four mines there and plays a key role in that national output
Its operations rely nearly fully on renewable energy and use non-freshwater sources at major locations to limit environmental
impact.Meanwhile, the company is still trying to move forward with its long-stalled Twin Metals project in Minnesota
government paused the project due to environmental concerns.Still, Antofagasta now sees a possible opening after new moves to favor U.S
A recent proposal for a 50% tariff on copper imports, backed by former President Trump, has revived hope.If the U.S
restricts foreign copper further, projects like Twin Metals could become more valuable and politically viable
securing steady supply remains a global concern
By keeping investments high at home and pushing cautiously abroad, Antofagasta balances short-term gains with longer-term strategy
