1209 GMT - Antofagasta investors could be looking for the exit if the war in the Middle East continues, RBC Capital Markets analysts write. The Chilean copper miner is at risk of a lower valuation as a prolonged war could weigh on global economic growth and sour investor sentiment, they add. Copper prices and shares in miners of the metal have risen sharply in the past year given its vital importance in data centers and electrification efforts. With oil flows out of the Middle East disrupted, prices are rising. The mining industry will face significant cost pressures but Antofagasta is relatively well-shielded for now, they say. The analysts cut the stock's rating to underperform from sector perform. Shares fall 0.9% to 3,244 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 20, 2026 08:09 ET (12:09 GMT)
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