Antofagasta predicts strong copper demand despite tariff uncertainty, potential risks from recent US tariffs

From Yahoo Finance: 2025-04-09 06:49:00

Chilean mining giant Antofagasta’s CEO, Ivan Arriagada, warns of potential risk for copper demand due to recent US tariffs. However, demand from data centers, renewable energy, and AI could offset losses from traditional sectors. Chile, a major copper producer, may avoid tariffs due to trade surplus and free-trade status with the US. Antofagasta aims for a production target of 660,000–700,000 tonnes this year. Despite legal challenges, the Twin Metals project in Minnesota remains hopeful. US exempted steel, aluminum, and copper from reciprocal tariffs, but additional measures are being considered. Copper prices surged over 5% in New York in anticipation of Trump’s tariff announcement.



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