Full-year 2025 production guidance for key commodities maintained, with ranges tightened as only one quarter remains.
Copper production increased 36% quarter-on-quarter, driven by strong performances at KCC, Mutanda, Antamina, and Antapaccay.
Year-to-date zinc volumes are up 10% period-on-period, with steelmaking and energy coal volumes tracking toward the upper end of guidance.
Full-year Marketing Adjusted EBIT expected around the mid-point of the $2.3–$3.5 billion long-term guidance range.
2025 production guidance for copper, cobalt, zinc, nickel, steelmaking coal, and energy coal has been maintained or slightly tightened.
Own sourced copper production YTD was 17% below 2024 due to lower head grades and recoveries, but Q3 2025 saw a 36% increase over Q2.
Cobalt production rose 8% YTD, mainly from higher grades and volumes at Mutanda.
Zinc production increased 10% YTD, mainly from higher grades at Antamina and increased output at McArthur River.
Nickel production fell 9% YTD after adjusting for Koniambo, reflecting reductions at INO and Murrin Murrin.
Ferrochrome production dropped 51% YTD due to smelter suspensions and maintenance.
KCC and Mutanda delivered significant copper and cobalt output increases in Q3, with KCC up 66% and Mutanda up 60% quarter-on-quarter.
Collahuasi and Antamina copper output was lower YTD due to mine sequencing and water constraints, but both saw improved grades in Q3.
Antapaccay’s leaching circuit restart contributed to higher Q3 copper production.
Mount Isa copper mine ceased operations in July 2025; future smelting and refining will rely on third-party feedstocks.
Pasar copper smelter and refinery sale in the Philippines completed in September 2025.
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