Antamina expects significant copper output boost in 2026

The massive Antamina mine in Peru is forecasting an almost 20% boost in cooper output next year, a feat that would make it one of the nation’s premier suppliers.

Antamina, co-owned by BHP Group, Glencore Plc, Teck Resources Ltd. and Mitsubishi Corp., sees 2026 copper production rising to 450,000 metric tons and then leveling out to roughly 400,000 tons annually in subsequent years, chief operating officer Luis Santivanez said during an interview. An expansion will be built to replenish ore at the current pit, he added.

This year, output is expected to be 380,000 tons. Antamina is one of the largest copper sources in Peru, itself the world’s No. 3 producer.

Achieving the 2026 production target would put Antamina in range of taking Peru’s top copper ranking from Freeport-McMoran’s Cerro Verde mine and MMG Ltd.’s Las Bambas site.

Antamina is also in the process of investing $2 billion in an expansion that will enable production to be sustained. Santivanez said ore from the project will begin to be processed in 2027.

Santivanez joined Antamina in July, following the death of a senior manager in a traffic incident inside the mine, which prompted the company to halt temporarily operations.

“That was a very tragic accident,” Santivanez said. “Obviously the event triggered a very rigorous revision of all our procedures.”

(By Marcelo Rochabrun)