Copper prices will stay high for at least the next 12 years due to its solid fundamentals and tight supply chain conditions, even though the current market fluctuates, according to Antofagasta's CEO Ivan Arriagada.

Copper plays an important role in energy transition, especially with electric cars.

Antofagasta is keen to develop its Twin Metals project although the Biden administration refuses to renew its licenses. The company tried to work it out and hoped to implement the project by the end of the decade.

In addition, Antofagasta also planned to reach a production level of 900,000 tons by 2026.

Arriagada said Antofagasta is looking for attractive acquisition opportunities to increase its portfolio, and its preferred regions are America and Peru with a long-term goal.