News: BHP UPDATE 1-Peru's No. 2 copper mine Antamina sees production steady in 2024

(Adds comments from Antamina's president, background details)

Antamina, Peru's second-largest copper mine, expects 2024 production to be roughly in line with the 435,378 metric tons it produced last year, while it nears the start of work on a delayed project to extend the mine's lifespan, a top executive said on Friday.

Victor Gobitz, president of Antamina - which is controlled by Glencore GLEN.L , BHP (BHP) , Teck TECKb.TO and Mitsubishi 8058.T - told Reuters the $2 billion project aims to extend the mine's life to 2036, from 2028 currently.

In 2022, Antamina was Peru's top copper producer, with an output of 467,905 tons, according to data from the country's mines and energy ministry.

"We have no plan to increase production levels; undoubtedly these (copper) prices help margins, but we do not have that operational flexibility," Gobitz told Reuters.

Production will be "very similar to last year," he added.

After receiving the environmental permit for the "Antamina Replenishment" project earlier this year, the government should issue the construction license before year-end so expansion works can start in 2025, said Gobitz.

"We don't foresee any difficulties for the license," he said.