Miner Antofagasta's Q3 copper output jumps 15% sequentially on destocking
Adds sector context in paragraph 3, 2025 outlook in paragraph 4
Oct 16 (Reuters) -Chilean miner Antofagasta ANTO.L reported a 15% rise in third-quarter copper output on Wednesday, compared with the previous three-month period, due to destocking of inventories at its Los Pelambres mine and better grades at its Centinela mine.
The miner said it still expects to finish 2024 at the lower end of its previous forecast range of 670,000-710,000 metric tons of copper production.
Copper, used in the power and construction industries, is expected to benefit from the green energy transition globally, including demand from the electric vehicle sector and new applications such as data centres for artificial intelligence.
However, the company said its 2025 copper output is
expected to be between 660,000 tons and 700,000 tons, with the top and bottom ends of that guidance range slightly lower than this year's forecast span.
Antofagasta, majority-owned by Chile's Luksic family, said copper production in the third quarter was 179,000 tons, while gold output surged 54% to 51,800 ounces, compared with the previous quarter.
Reporting by Yadarisa Shabong and Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich
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