Antofagasta Reports 27% EBITDA Growth in H1 2026 as Copper Projects Advance

Copper  |  2026-08-17 04:58:33   |   By

The cost-control programme generated $67 million in savings during the period.

Summary
  • Strong financial performance: H1 2026 EBITDA increased 27% to $2.84 billion, while revenue rose 18% to $4.48 billion and operating cash flow jumped 53%.
  • Copper output declined: Production fell 9% year-on-year to 285,000 tonnes, mainly due to lower output at Los Pelambres and Centinela. Full-year guidance stands at 625,000-655,000 tonnes.
  • Expansion and cost savings: Cost-control measures generated $67 million in savings, while major projects remain on track for 2027 commissioning and a new $900 million Zaldívar water system has been approved.

SEATTLE (Scrap Monster): Antofagasta plc delivered strong financial growth in the first half of 2026, supported by higher realised copper prices, productivity gains and tighter cost management. EBITDA rose 27% year-on-year to $2.84 billion, while revenue increased 18% to $4.48 billion.

Operating cash flow climbed 53% to $2.77 billion, while EBITDA margin also improved to 63.4%, up five percentage points from the first half of 2025. Underlying earnings per share increased 81% to 85.9 cents. Also, the company declared an interim dividend of 30.1 cents per share.

ALSO READ:

Antofagasta 2025 EBITDA Hits Record High Amid Strong Copper Prices

Antofagasta Los Pelambres Copper Mine Celebrated 25 Years of Mining

Antofagasta’s copper output reached 285,000 tonnes during the six months, down 9% from a year earlier, mainly because of weaker production at Los Pelambres and Centinela. Following the temporary shutdown at Los Pelambres caused by severe weather in Chile, operations are gradually returning to normal. The company now expects full-year copper production of 625,000-655,000 tonnes.

The cost-control programme generated $67 million in savings during the period.

Major expansion projects remain on schedule for commissioning in 2027. The Centinela Second Concentrator and Los Pelambres infrastructure projects are in progress. The company has approved about $900 million for a new water system at Zaldívar, aimed at extending the potential mine life to 2051.