Chilean mining large Antofagasta’s CEO, Ivan Arriagada, has acknowledged that the current US tariffs have sparked a possible threat for steel demand, significantly copper, though demand from information centres, renewable power and AI may doubtlessly compensate for any losses from conventional sectors.
Arriagada famous that the resilience of the copper market may face up to the commerce warfare’s results, reported Reuters.
He acknowledged that Chile, because the world’s main copper producer and a big provider to the US, could evade these tariffs because of its commerce surplus with the US and its standing as a free-trade associate.
In the course of the CESCO copper convention in Santiago, Arriagada additionally highlighted the restricted provide of copper, important for development and the transition to a greener financial system.
Arriagada prompt that Trump’s insurance policies could create a extra beneficial funding local weather for mining.
“Within the present surroundings, the place there’s much more help for mining funding, it needs to be simpler and may occur,” Arriagada stated, though he acknowledged the absence of tangible progress.
Antofagasta, with operations throughout 4 mines in Chile and a improvement mission within the US, goals for a manufacturing goal of 660,000–700,000 tonnes (t) this 12 months.
The corporate’s Twin Metals mission in Minnesota faces authorized challenges relating to permits, however Arriagada stays hopeful.
The US exempted metal, aluminium and copper from reciprocal tariffs, efficient from 5 April 2025.
The US administration is presently contemplating further tariffs, though no particular measures for copper have been introduced.
In anticipation of Trump’s tariff announcement, US shoppers have been stockpiling assets.
Arriagada revealed that Antofagasta despatched a modest further quantity of copper to the US, with out disclosing specifics.
In March 2025, copper costs surged greater than 5% in New York, outpacing international benchmarks, after President Trump introduced a attainable 25% tariff on steel imports.
“Chile’s Antofagasta predicts sturdy copper demand regardless of tariff uncertainty” was initially created and printed by Mining Know-how, a GlobalData owned model.
The knowledge on this website has been included in good religion for common informational functions solely. It isn’t supposed to quantity to recommendation on which you need to rely, and we give no illustration, guarantee or assure, whether or not specific or implied as to its accuracy or completeness. You could receive skilled or specialist recommendation earlier than taking, or refraining from, any motion on the premise of the content material on our website.
Chilean mining large Antofagasta’s CEO, Ivan Arriagada, has acknowledged that the current US tariffs have sparked a possible threat for steel demand, significantly copper, though demand from information centres, renewable power and AI may doubtlessly compensate for any losses from conventional sectors.
Arriagada famous that the resilience of the copper market may face up to the commerce warfare’s results, reported Reuters.
He acknowledged that Chile, because the world’s main copper producer and a big provider to the US, could evade these tariffs because of its commerce surplus with the US and its standing as a free-trade associate.
In the course of the CESCO copper convention in Santiago, Arriagada additionally highlighted the restricted provide of copper, important for development and the transition to a greener financial system.
Arriagada prompt that Trump’s insurance policies could create a extra beneficial funding local weather for mining.
“Within the present surroundings, the place there’s much more help for mining funding, it needs to be simpler and may occur,” Arriagada stated, though he acknowledged the absence of tangible progress.
Antofagasta, with operations throughout 4 mines in Chile and a improvement mission within the US, goals for a manufacturing goal of 660,000–700,000 tonnes (t) this 12 months.
The corporate’s Twin Metals mission in Minnesota faces authorized challenges relating to permits, however Arriagada stays hopeful.
The US exempted metal, aluminium and copper from reciprocal tariffs, efficient from 5 April 2025.
The US administration is presently contemplating further tariffs, though no particular measures for copper have been introduced.
In anticipation of Trump’s tariff announcement, US shoppers have been stockpiling assets.
Arriagada revealed that Antofagasta despatched a modest further quantity of copper to the US, with out disclosing specifics.
In March 2025, copper costs surged greater than 5% in New York, outpacing international benchmarks, after President Trump introduced a attainable 25% tariff on steel imports.
“Chile’s Antofagasta predicts sturdy copper demand regardless of tariff uncertainty” was initially created and printed by Mining Know-how, a GlobalData owned model.
The knowledge on this website has been included in good religion for common informational functions solely. It isn’t supposed to quantity to recommendation on which you need to rely, and we give no illustration, guarantee or assure, whether or not specific or implied as to its accuracy or completeness. You could receive skilled or specialist recommendation earlier than taking, or refraining from, any motion on the premise of the content material on our website.
