Antofagasta PLC (LSE:ANTO) racked up a 3.9% gain on Thursday after unveiling stronger production figures for its latest quarter.
Some 200.3 kilotons of copper were produced in the fourth quarter, up 11.9% on the third and taking the figure up 0.5% over the course of 2024.
Sales also grew 8.7% quarter on quarter, but were down 3.3% for the year, Antofagasta said in a statement.
Gold output surged 31.7% to 68,200 oz in the meantime, as molybdenum production also grew.
"This was another sequentially stronger quarter for the company,” chief executive Iván Arriagada said.
Production costs also dropped from US$1.62 to US$1.23 per pound of copper, Arriagada pointed out.
Guidance is for 660,000 and 700,000 tonnes worth of production in 2025, alongside anticipations for lower net cash costs and capital expenditure of $3.9 billion.
“Copper remains the key critical mineral for the energy transition, global economic growth and energy security,” Arriagada added.
“As a pureplay copper producer in Chile, we are well positioned to supply this growing demand.”
Other miners, Fresnillo PLC, Endeavour Mining PLC and Glencore PLC also climbed on Thursday, in line with an increase in copper and gold prices.