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Trump copper tariffs could help Antofagasta's stalled US project, CEO says
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Trump copper tariffs could help Antofagasta's stalled US project, CEO says
Jul 10, 2025 7:54 AM

SANTIAGO, July 10 (Reuters) -

Chilean copper miner Antofagasta ( ANFGF ) sees opportunity

for its stalled copper project in the United States following

the Trump administration's move to impose 50% import tariffs on

the metal, CEO Ivan Arriagada said on Thursday.

London-listed Antofagasta ( ANFGF ) operates four copper mines in

Chile and is developing the Twin Metals copper and nickel mine

in Minnesota, but the project stalled after the prior Biden

administration blocked permits over environmental concerns.

"We have a project and we see an opportunity in this

context to develop it," Arriagada told reporters at an event.

He also noted that the project still had years ahead before

a final investment decision could be made.

"We need to continue working with a long-term

perspective."

The miner has maintained its current mid-term and long-term

sales contracts, without additional copper shipments to the

United States for now, he added.

U.S. companies have already been bulking up on copper since

U.S. President Donald Trump in February opened a probe into

potential tariffs on copper imports.

Chile is the world's biggest copper producer.

Chilean Mining Minister Aurora Williams, speaking alongside

Arriagada, said the government had not yet received precise

information about how the copper tariffs would be implemented.

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