Antofagasta PLC (LSE:ANTO) has been named among 'top picks' by analysts at Citi, in a new research note focused on the European mining sector, as the bank expressed a preference for base metals over bulk commodities heading into 2026. Analysts highlighted Antofagasta's projected copper production growth of 30% through to 2029, describing the company's operations as steady and noting improving conditions in the Chilean jurisdiction.
Progress at Antofagasta PLC's (LSE:ANTO) Centinela mine has impressed another set of analysts, after the Chilean copper producer hosted a visit to the Atacama desert site, where a second concentrator is being built RBC Capital Markets said the development is expected to be largely on budget and on time, with guidance that the ramp-up will reach full capacity by the end of 2028 appearing “conservative”, with the analysts pencilling in the second quarter of that year. Centinela has no significant constraints on space, altitude, or labour, with the ability to attract a skilled workforce, "notable" (and aided by padel courts on site), and the use of existing pits for tailings, meaning that costs should be kept down.
Antofagasta PLC's (LSE:ANTO) Centinela copper mine is gaining prominence as a potential second core asset alongside Los Pelambres, according to analysts at Citi, who visited the operation recently. A second concentrator project is now more than 50% complete and remains on schedule and within budget, they noted.
Copper may not glitter like gold, but right now it's the metal with the best story in town. A series of mine disruptions, most notably at Grasberg in Indonesia, has flipped the copper market from surplus to deficit, according to new forecasts from JPMorgan's commodities team.
Citi has praised Antofagasta PLC (LSE:ANTO) half-year performance as “solid”, pointing to stronger earnings, lower costs and the approval of a $1bn mine development that will accelerate spending in the second half of the year. The Chilean copper miner on Thursday posted earnings before interest, tax, depreciation and amortisation of $2.23bn for the first six months of 2025, a 60% increase on last year and slightly ahead of analyst forecasts.
Antofagasta plc (OTC:ANFGF) Q2 2025 Earnings Conference Call August 14, 2025 9:00 AM ET Company Participants Ivan Arriagada Herrera - Chief Executive Officer Mauricio Ortiz - Chief Financial Officer Rosario Orchard - Corporate Participant Conference Call Participants Amos Fletcher - Unidentified Company Ephrem Ravi - Citigroup Inc., Research Division Ioannis Masvoulas - Morgan Stanley, Research Division Matthew Greene - Goldman Sachs Group, Inc., Research Division Operator Hello, and welcome to Antofagasta's 2025 Half Year Results Call. We will start today's session with a short introduction from Antofagasta to be followed by a question and answer session.
Ahead of its interim results, Antofagasta PLC (LSE:ANTO) impressed with a recent operational update, showing better cost performance than expected in the first half. Deutsche Bank forecasts EBITDA of $2.05 billion for the half-year, with the FTSE 100 copper miner having left guidance unchanged and expecting a sequential lift in output over the two remaining quarters of the year.
Mining giants Antofagasta PLC (LSE:ANTO) and Anglo American PLC (LSE:AAL) provided some of the leading gains on the FTSE 100 on Monday morning, as copper and iron ore prices rose. Market analysts pointed to moves in China as a likely reason for the stronger sentiment in the sector.
Shares in Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) and Antofagasta PLC (LSE:ANTO) both rose 2% after the giant miners posted operational updates for the second quarter. A day after announcing that iron ore chief Simon Trott will take over as CEO next month, RIO's current boss hailed "excellent" performance from the group's mines, with record production from the bauxite business and from the massive copper-gold deposit Oyu Tolgoi in Mongolia.
Shares in Antofagasta PLC (LSE:ANTO) fell as confusion reigned amid President Trump's latest tariff threat on copper imports. The miner's stock dropped as much as 3% despite a sharp rally in copper prices in the US triggered by the announcement of a potential 50% American tariff.
Shares in Antofagasta PLC (LSE:ANTO) rose 3% on Wednesday after JP Morgan added the Chilean copper miner to its 'analyst focus' List and placed it on 'positive catalyst watch', citing strong production growth and an improving free cash flow outlook. The bank reaffirmed its 'overweight' rating and £24 price target, highlighting Antofagasta's industry-leading copper volume growth, which is expected to rise by 30% between 2024 and 2028.
London-listed copper producers are back in the spotlight. UBS has named Antofagasta PLC (LSE:ANTO) and Anglo American PLC (LSE:AAL) among its preferred global picks, highlighting their leverage to constrained supply and long-term demand linked to the energy transition.