London, January 25, 2026, 09:24 GMT — The market has closed.
- On Friday, Antofagasta shares ended the session 1.9% higher, closing at 3,584 pence.
- Strike action over the weekend once again shut down a crucial access road to the Zaldivar mine in Chile
- Chile’s environmental regulator slapped a fine on Centinela for failing to meet water-management standards
Antofagasta (ANTO.L) shares enter the week under pressure as striking contractors renewed their blockade Saturday on the access road to BHP’s Escondida and Antofagasta Minerals’ Zaldivar copper mines, according to sources. The London-listed stock closed Friday up 1.9% at 3,584 pence (£35.84), recovering from a 2.2% drop the previous day. (Reuters)
This matters since Antofagasta’s earnings remain closely tied to copper output and on-the-ground disruptions. The market often prices in those risks quickly, sometimes well before any actual impact on production shows up.
This comes at a moment when investors shift focus from price momentum to the nitty-gritty of operations. Quarterly production reports have the power to upend expectations in just one session, particularly around costs.
The weekend disruption comes after Chile’s environmental regulator fined Antofagasta Minerals roughly $775,000 on Friday. The penalty stems from alleged breaches of water-management rules at the Centinela mine. Antofagasta Minerals said it’s currently reviewing the decision before determining its next move. (Reuters)
Copper prices climbed into the weekend, closing the LME cash settlement at $12,920.50 per metric ton. The three-month contract also rose, hitting $12,981 on Jan. 23, up from the previous session, according to data from LME. On the equity front, London’s FTSE 100 edged down 0.07% on Friday. (Westmetall)
Antofagasta is gearing up for a near-term catalyst: the company will release its fourth-quarter 2025 production report on Jan. 29, with full-year 2025 results scheduled for Feb. 17, per its financial calendar. (Antofagasta)
Traders want clear figures — copper production, unit costs, and any shifts in guidance — plus fresh details on site conditions. Updates on logistics, staffing, and work stoppages in northern Chile will draw extra scrutiny this round.
The roadblock issue extends beyond Antofagasta. On Friday, BHP reported that blockades intermittently disrupted traffic and delayed shift changes at Escondida. Pablo Pisani, vice president of corporate affairs and communications for Escondida-BHP, called on authorities and all parties involved to find a resolution. (Reuters)
The near-term outlook is messy. If the blockade lingers or expands, it risks complicating operations and pushing up costs right as the company approaches its quarterly results. The Centinela fine serves as a reminder of how quickly regulatory problems can hit the bottom line — even if the amounts are relatively minor.
London trading kicks off again on Monday. The next key date for Antofagasta shares is the production report on Jan. 29. Investors will be focused on any updates regarding the Zaldivar access disruption and the fallout from the Centinela regulator action.
