LONDON (Reuters) -Chilean miner Antofagasta reported on Thursday a modest 1% rise in third-quarter copper production, and said it expects annual output at the lower end of its forecast range of 660,000-700,000 metric tons.

Antofagasta produced 161,800 tons of copper in the third quarter, bringing year-to-date production to 476,600 tons, a 2.8% increase compared with the same period in 2024.

The company operates four copper mines in Chile and is expanding output to meet growing demand from the power, construction, and green energy transition sectors.

It lowered its capital expenditure guidance for the year to $3.6 billion, from $3.9 billion previously, due to depreciation of the Chilean peso.

“The capex guidance for 2025 is revised… which we see as being deferred for spending in 2026,”

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