14th Aug 2025 09:36
(Alliance News) - Antofagasta PLC on Thursday maintained its full-year guidance as interim profit surged while revenue grew comfortably amid higher copper and gold prices.
The Chilean miner said pretax profit jumped 63% to USD1.16 billion in the first half of 2025 from USD712.6 million a year ago.
Earnings before interest, tax, depreciation and amortisation surged 60% to USD2.23 billion from USD1.39 billion.
Revenue rose 29% to USD3.80 billion from USD2.96 billion. Operating costs increased modestly in comparison, by 10% to USD2.52 billion from USD2.28 billion.
Notably, the firm's average realised copper price rose 3.4% to USD4.55 per pound in the first half of 2025 from USD4.40 a year ago.
More dramatically, the average realised gold price surged 41% to USD3,263 per ounce from USD2,313.8.
Copper production climbed 11% to 314,900 tonnes from 284,700 a year ago.
Gold output jumped 36% to 91,200 ounces from 66,900 ounces. The company highlighted higher output at Centinela Concentrates and Los Pelambres.
Antofagasta announced an interim dividend of 16.6 US cents per share, up sharply from 7.9 cents a year prior.
Looking ahead, the company maintained its guidance for 2025, with total copper output expected between 660,000 and 700,000 tonnes, similar to 664,000 tonnes in 2024.
Antofagasta said: "Copper continues to demonstrate strong fundamental value, supported by structural trends that include energy security and rise of modern technologies such as those needed for decarbonisation, AI and infrastructure. Technical constraints, such as grade decline and rising ore hardness, continue to affect global supply, with disruption rates elevated in recent years."
Antofagasta shares were up 1.0% at 2,131.00 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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