Antofagasta EBITDA Climbs 27% in H1 2026 as Copper Projects Advance
Copper | 2026-08-17 06:48:22
The cost-control programme generated $67 million in savings during the period.
By Paul Ploumis
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.
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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.
POLL
Which factor was the biggest contributor to Antofagasta’s strong H1 2026 financial performance?
Frequently Asked Questions
- How did Antofagasta’s EBITDA perform in the first half of 2026?
Antofagasta’s EBITDA rose 27% year-on-year to $2.84 billion, supported by higher realised copper prices, productivity improvements and tighter cost management.
- What happened to Antofagasta’s copper production in H1 2026?
Copper production declined 9% year-on-year to 285,000 tonnes, primarily due to weaker production at Los Pelambres and Centinela. The company expects full-year production of 625,000-655,000 tonnes.
- What major projects is Antofagasta developing?
The Centinela Second Concentrator and Los Pelambres infrastructure projects remain on schedule for commissioning in 2027. Antofagasta has also approved approximately $900 million for a new water system at Zaldívar, potentially extending the mine’s life to 2051.
