Antofagasta H1FY26 molybdenum output drops on weaker ore grades

Antofagasta plc recently reported a significant year-on-year decline in molybdenum production across its key copper-molybdenum operations in the first half of fiscal 2026. Output at Los Pelambres fell 17% to 4,700 tonnes, down from 5,700 tonnes a year earlier, while production at Centinela declined 18% to 1,400 tonnes from 1,700 tonnes. The company attributed the downturn primarily to lower ore grades at both sites.