Antofagasta PLC (ANTO.L)
Latest Key Developments (Source: Significant Developments)
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: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
TORONTO, March 21 Canada's benchmark stock index fell on Tuesday, with heavyweight financial stocks following Wall Street banks lower as investors fretted about U.S. President Donald Trump's ability to boost growth and energy stocks weighing with lower oil prices.