Antofagasta's first-half copper output drops 9.5%, uptick seen ahead (updated)
UPDATE 1-Antofagasta's first-half copper output drops 9.5%, uptick seen ahead Adds CEO comment in paragraph 2, details in paragraphs 3-4
July 15 (Reuters) - Chilean miner Antofagasta ANTO.L said on Wednesday its copper output fell 9.5% in the first half to 285,000 metric tons due to lower production at two key mines, but affirmed its annual forecast as it expects higher output through the rest of 2026.
Inflationary pressures persisted across the mining industry due to disruptions in oil and other feedstock markets, Antofagasta CEO Iván Arriagada said in a statement, adding that the miner would focus on supply chains to safeguard sourcing materials.
The London-listed miner said second-quarter output of 142,000 tons was down 0.7%, a significant improvement from the 7.6% drop in the first quarter, and that quarterly production would increase sequentially in the rest of the year.
Antofagasta reiterated its annual copper output guidance of 650,000 to 700,000 tons, but nudged up its forecast for cash cost before by-product credits to $2.40 to $2.60 per pound due to persistently higher fuel prices.
(Reporting by Anushka Chourasia in Bengaluru; Editing by Rashmi Aich)