Antofagasta Sees 27% Jump in Half-Year Core Earnings on Copper Prices

Antofagasta, a Chilean miner, reported higher core earnings in the first half of the year due to increased copper prices offsetting production decline. The company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose to $2.84 billion from $2.23 billion a year earlier, representing a 27% increase.

This growth was mainly driven by higher copper prices, which are essential for the energy transition material. As a result, Antofagasta's earnings benefited from this trend, despite lower production levels.