Antamina Anticipates Steady Copper Output in 2024

SEATTLE (Scrap Monster): Antamina- the second largest copper mine in Peru foresees steady production during the current year. The output for the year is predicted more or less unchanged from the 2023 production of 435,378 metric tons. It must be noted that the mine had topped in the list of Peru’s top copper producers in 2022 by clocking a production of 467,905 tons. However, it fell to number two spot since then, in accordance with the data published by the country’s Mines and Energy Ministry.

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Victor Gobitz, President, Antamina stated that the company has no plan whatsoever to increase production levels. Although the record high copper prices will help margins, the company lacks operational flexibility to take advantage of the situation. The production will be very similar to the previous year, he noted.

Gobitz expects Peru’s overall copper production to surpass 3 million tons in 2024, significantly higher from the previous year production of 2.76 million tons.

The “Antamina Replenishment” project had received environmental permit earlier this year. It expects the government to issue the construction license, which will mark the start of construction works in early-2025. The project aims to extend the mine’s lifespan, the company noted.