Antucoya is approximately 1,400 km north of Santiago and 125 km north-east of the city of Antofagasta. Antucoya mines and leaches oxide ore to produce copper cathodes using the solvent extraction and electrowinning (SX-EW) process.

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Operating performance

Antucoya continues to operate in line with its design throughput, sustaining the consistent performance and improved reliability that was achieved in the previous period.

EBITDA was $215 million in 2023, compared with $261 million in 2022, reflecting higher operating costs and the lower realised copper price.


Production for the full year was 77,800 tonnes, 1.8% lower than last year due to a combination of marginally lower ore grades and recoveries.

Cash costs

Costs during the full year were 5% higher at $2.63/lb, reflecting local inflation, appreciation of the Chilean peso, higher consumption rates of sulphuric acid in line with expectations, with lower input costs serving to partially offset these effects.

Capital expenditure

Capital expenditure was $122 million, including $88 million on sustaining capital expenditure.

Production is forecast to be 75–80,000 tonnes of copper and cash costs are expected to be approximately $2.50/lb.