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Antofagasta PLC (ANTO.L)

ANTO.L on London Stock Exchange

21 Oct 2016
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Latest Key Developments (Source: Significant Developments)

Antofagasta H1 profit rises
Tuesday, 16 Aug 2016 02:00am EDT 

Antofagasta Plc : Half yearly financial report . H1 revenue fell 18.5 pct to $1.45 bln . H1 pretax profit $276.1 mln . H1 EBITDA increased 2.3 pct to $571.6 mln . H1 capital expenditure of $385.4 mln, $276.9 mln lower than in first half of 2015 . Interim dividend of 3.1 cents per share . H1 revenue 18.5 pct lower at $1.45 bln, on lower copper prices and sales volumes, and closure of Michilla at end of 2015 . H1 EBITDA margin (2) strengthened to 39.5 pct, up from 31.5 pct in same period last year . Group copper production for year is expected to be at lower end of 710-740,000 tonnes guided in January . Production for year is weighted to second half of year . We are cautious in our outlook and remain conservative in our approach to managing capital . Full year expenditure expected to be lower than original guidance . Group net debt of $1.04 bln, almost unchanged since end of 2015 .FY expectations: unit costs $0.05/lb lower with cash costs before by-product credits of $1.60/lb and net cash costs of $1.30/lb.  Full Article

Antofagasta sees FY copper production at lower-end of forecast
Wednesday, 27 Jul 2016 02:00am EDT 

Antofagasta Plc : Q2 2016 production report . Copper production in q2 2016 was 166,200 tonnes, a 5.8% increase on q1 2016 . Molybdenum production at los pelambres was 1,600 tonnes in q2 2016, compared to 1,700 tonnes in q1 2016 . Cash costs before by-product credits in q2 2016 were $1.57/lb, 3.7% lower than in q1 2016 . Net cash costs were $1.25/lb in q2 2016, a 2.3% decrease compared with previous quarter . Sees production for year weighted to second half . Group copper production for first six months of year was 323,300 tonnes, 6.6% higher than in same period last year . Gold production was 52,800 ounces in q2 2016, a 6.9% decrease on q1 2016 largely due to lower production at centinela . Cash costs before by-product credits for first six months of year were $1.60/lb, $0.28/lb lower than same period last year . Group copper production for full year is expected to be at lower end of 710-740,000 tonnes guided in january . Revised estimation of deferred stripping costs at los pelambres in 2016 .Changes introduced in estimation method impacted los pelambres accounting for $0.08/lb of reduction in costs for group for h1 versus year ago.  Full Article

Antofagasta chairman sees another year or two of low copper prices
Wednesday, 18 May 2016 02:01am EDT 

Antofagasta Plc : No doubt that 2015 was a difficult year -chairman . During 2016 we aim to reduce our costs by a further $160 million, or 6 pct of last year's gross cash costs - chairman .Are expecting another year or two of low copper prices - chairman.  Full Article

Antofagasta PLC - Fire affects plant at Chilean Antofagasta's Centinela copper mine - Reuters
Thursday, 24 Dec 2015 10:56am EST 

Antofagasta PLC:Antofagasta Plc said that a fire affected a plant at its Centinela copper mine in northern Chile on Wednesday night, but underscored that nobody was injured and that production would not be impacted. - RTRS.The fire affected the electrowinning unit of Centinela's hydrometallurgy plant and was extinguished minutes after it started, Antofagasta said in a statement on Thursday. - RTRS."This fire will not alter the company's rate of production. Operations at the hydrometallurgical plant are resuming after a risk control was performed," the company said. - RTRS.Antofagasta said it was investigating the cause of the fire, adding that key equipment at the plant was not damaged, though the building that houses the unit was partially affected and is being evaluated - RTRS.  Full Article

Antofagasta PLC halt copper mines in Chile after quake - Reuters
Tuesday, 15 Sep 2015 08:00pm EDT 

Antofagasta PLC:Codelco and Antofagasta PLC suspended operations at two major copper mines in Chile, the world's top producer of the metal, after a powerful earthquake struck off the coast on Wednesday, threatening over 600,000 tonnes of annual capacity - Reuters.State copper miner Codelco halted open-pit operations at its large Andina mine and evacuated workers at its smaller Las Ventanas refining and smelting division, as well as at the two northern ports of Mejillones and Barquito, as a precautionary measure - Reuters.Antofagasta said it had temporarily closed its flagship Los Pelambres mine, which produced over 400,000 tonnes of copper in 2014, and would wait until daybreak to assess the damage - Reuters.There were no initial reports of damage to personnel or equipment - Reuters.  Full Article

Antofagasta PLC announces acquisition of 50% interest in Zaldivar
Friday, 31 Jul 2015 02:01am EDT 

Antofagasta PLC:Has entered into definitive agreement with Barrick Gold Corporation (Barrick).Under which Antofagasta will acquire 50 pct interest in Compañia Minera Zaldívar Limitada (Zaldivar), and will become operator of Zaldivar copper mine.Total consideration for transaction is $1,005 mln in cash, which consists of $980 mln upon closing, subject to customary adjustments, and five annual payments of $5 mln per year, starting in 2016.Transaction will be funded with cash from Antofagasta's balance sheet, and is expected to be immediately accretive to Antofagasta's earnings and cash flow per share.  Full Article

Antofagasta PLC recommends final dividend
Tuesday, 17 Mar 2015 03:01am EDT 

Antofagasta PLC:Recommended a final dividend for FY 2014 of 9.8 cents per ordinary share.Says dividend will be paid on May 22 to shareholders on the register at the close of business on April 24.  Full Article

Antofagasta PLC gives FY 2015 production guidance
Wednesday, 28 Jan 2015 02:00am EST 

Antofagasta PLC:Expects FY 2015 production to be about 710,000 tonnes of copper, 250,000 ounces of gold and 8,000 tonnes of molybdenum.  Full Article

Antofagasta plc completes Duluth acquisition
Wednesday, 21 Jan 2015 09:24am EST 

Antofagasta plc:Says its wholly-owned subsidiary, Antofagasta Investment Company Limited (Antofagasta), has obtained all the necessary approvals and applications to complete the acquisition of Duluth Metals Limited previously announced on Nov. 03, 2014.Under the terms of the agreement Antofagasta acquired all the shares of Duluth for an all cash consideration of C$0.45 per share, about C$53 mln.Acquisition of Duluth by Antofagasta consolidates Antofagasta's ownership in the Twin Metals Minnesota Project (TMM) to 100 pct.TMM Project is a copper-nickel-platinum-palladium-gold-silver project in the Duluth Complex in north-eastern Minnesota, USA.  Full Article

Monax Mining Ltd updates on Monax-Antofagasta strategic alliance with Antofagasta plc's subsidiary
Sunday, 14 Dec 2014 06:00pm EST 

Monax Mining Ltd:Announces Strategic Alliance with a wholly owned subsidiary of major Chilean copper producer, Antofagasta plc, ended on Nov. 24, 2014.The Alliance was a project generation venture formed by the two parties in Nov. 2011 to identify specific projects in South Australia worthy of further exploration.The two parties are also joint venture partners in the Punt Hill copper-gold project located in northern South Australia, where recent drilling also has been fully funded by Antofagasta.  Full Article

Britain's FTSE slips from 14-month highs as UK inflation bites

LONDON, Aug 16 Britain's top shares index slipped from a 14-month high on Tuesday as higher-than-expected UK inflation data weighed on the market.