The indicator coincided with Antofagasta, which grew by 30% and reached $8.62 billion. This is due to both an increase in prices for copper (by 18%), gold and molybdenum, and an increase in sales.
Capital expenditures in 2025 amounted to $3.7 billion compared to $2.4 billion a year earlier. In 2026, the company plans them at the level of $3.4 billion. Further cost reductions are expected in 2027 due to the completion of projects under development.
Antofagasta's net debt at the end of December was $2.75 billion, up from $1.63 billion a year earlier. Experts predicted that the debt would rise to about $3 billion.
The company announced final dividends of 48 cents per share, bringing the total for the year to 64.6 cents.
Last year, Antofagasta reduced copper output by 3%. Gold production increased by 13% to 211.3 thousand ounces. Molybdenum production soared by 48% to 15.8 thousand tons.
Antofagasta still expects that in 2026 copper production will be in the range of 650-700 thousand tons, gold - 215-235 thousand ounces, molybdenum - 4:7. The company's shares are declining by 4.8% at auction in London. Over the past 12 months, its capitalization has almost doubled (by 94%), while the FTSE 100 stock index has gained 20%. Antofagasta owns several copper deposits in Chile, where gold and molybdenum are mined along the way.
