Antofagasta's Earnings Rise as Copper Prices Boost Margins

Antofagasta's stock price remained steady despite its announcement of higher earnings for the first half of 2026. The company reported a pretax profit of US$2.0 billion, a significant increase from previous years.

The improvement in earnings was driven by firmer copper prices and operational performance. Antofagasta management raised the interim dividend to 30.1 cents per share, underscoring its focus on shareholder returns for the current year.

However, the company also reduced its full-year 2026 copper production guidance to a range of 625,000 to 655,000 metric tons, down from earlier plans. This adjustment is tied to operational and planning factors that have led management to revise its production schedule.