Antofagasta三季度铜产量环比增7%，维持2026年产量指引并首次给出2027年产量指引，现金成本指引上调

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Investing.com -- Antofagasta said third-quarter copper production rose 7% from the previous quarter to 151,900 tonnes, and it kept its 2026 production guidance unchanged.
The Chile-focused miner said Los Pelambres drove the increase, finishing the drawdown of inventories built up in the prior quarter and recovering from a severe weather event in July. Year-to-date copper production was 436,900 tonnes, down 8% from a year earlier on lower grades at Centinela Concentrates and weaker recoveries at Centinela Cathodes.
Antofagasta also issued 2027 production guidance of 630,000 to 690,000 tonnes, reflecting higher copper grades at Los Pelambres, partly offset by lower grades at Centinela Concentrates. It will give 2027 guidance for cash costs and capital spending in its fourth-quarter report in January.
The company reiterated its 2026 production guidance unchanged at 625,000 to 655,000 tonnes, though it raised its guidance for cash costs before by-product credits to $2.60 to $2.70 a pound, from $2.40 to $2.60, citing elevated global diesel prices. Those costs were $2.73 a pound in the third quarter, down 7% from the previous quarter, and $2.81 for the first nine months, up 20% from a year earlier. Net cash costs were $1.38 a pound in the quarter, and the company kept its full-year net cash cost guidance at $1.15 to $1.35.
Capital spending guidance is also unchanged at $3.4 billion.
Antofagasta said gold production fell 4% from the previous quarter to 44,300 ounces, and molybdenum output fell 6% to 2,900 tonnes.
Chief Executive Iván Arriagada said construction on the major growth projects at Centinela and Los Pelambres has entered its final phases, ahead of completion of construction and commissioning in 2027. He said the copper market’s fundamentals remain strong, supported by investment in energy infrastructure and digitalization and by supply constraints.