LONDON, Jan 24, 2026, 09:46 (GMT) — Market closed
- Antofagasta shares rose Friday, while London markets remained closed for the weekend.
- Chile’s environmental regulator slapped a fine on the miner’s Centinela operation for failing to meet water-monitoring requirements.
- Investors are now turning their attention to the company’s production update scheduled for Jan. 29.
Antofagasta (ANTO.L) shares closed Friday 1.9% higher at 3,584 pence, brushing off news from Chile. The country’s environmental watchdog fined its Centinela copper mine for failing to meet water-monitoring rules.
Antofagasta’s shares have been jittery lately, especially on news about permits, water issues, and how the company manages operations. The next update is coming soon. Axel Rudolph, senior technical analyst at IG, noted that investors are zeroing in on copper output, cost management, and expansion plans as that report approaches.
The fine may be minor, but the timing is crucial. Copper prices are hovering close to record highs, while miners face pressure to maintain steady production amid tighter scrutiny of water use from regulators and local communities.
Chile’s SMA regulator slapped Antofagasta Minerals with a $775,000 fine on Friday for breaching water management rules at its Centinela mine, which covers the Esperanza and El Tesoro projects. The regulator pointed to missing records for an exploration well labeled LE-1 and inadequate water flow measurements at the La Cascada spring, both tied to monitoring requirements in El Tesoro’s environmental impact study — the official permit outlining mining conditions. Antofagasta said it’s scrutinizing the ruling and insisted Minera Centinela “actively and transparently collaborated with the authorities.” Reuters
The London-listed miner’s shares ended Friday at £35.84. The FTSE 100 dipped 0.07% that day, with Antofagasta still roughly 2.6% shy of its 52-week peak, according to MarketWatch data.
Hargreaves Lansdown data reported Antofagasta’s last close at 3,517p. On Friday, shares fluctuated between about 3,488p and 3,587p.
Copper gained momentum late in the session. Benchmark three-month copper on the London Metal Exchange climbed 1.2% to $12,901.50 a metric ton by 1043 GMT on Friday, helped by a softer dollar, according to a Reuters report. The story also highlighted a shift in the LME cash-to-three-month spread — the difference between immediate delivery and three-month contracts — alongside supply updates from peers like Capstone Copper’s Mantoverde mine in Chile and Freeport-McMoRan’s Grasberg operations.
Westmetall data put LME three-month copper at $12,981 a ton on Jan. 23, rising from $12,687 the previous day. Reported LME copper stocks were 171,700 tons.
Antofagasta is set to release its quarterly production report on Jan. 29. Investors will focus on year-end copper output, unit costs, and any updates on operations at Centinela and the company’s other Chilean mines.
The company plans to release its full-year 2025 results on Feb. 17. Investors will then have a better sense of cash flow and returns, including dividend details.
The fine serves as a reminder that regulatory matters rarely remain straightforward. Any escalation—or even suggestions of stricter oversight around water monitoring—could push up costs or delay project schedules, despite the regulator calling this penalty “minor.”
