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Antofagasta PLC (ANTO.L)

ANTO.L on London Stock Exchange

941.60GBp
20 Jul 2018
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Latest Key Developments (Source: Significant Developments)

Antofagasta Sees FY Impact From Los Pelambres Blockage On Sales To Be Less Than 5,000 Tonnes
Tuesday, 8 May 2018 02:01am EDT 

May 8 (Reuters) - Antofagasta PLC ::LOS PELAMBRES UPDATE: DELAY IN CONCENTRATES SHIPPING.NO DAMAGE TO PIPELINE HAS BEEN DETECTED AND NO LEAK HAS OCCURRED.BLOCKAGE HAS NOW BEEN SUCCESSFULLY CLEARED AND FILTERING OF CONCENTRATES AT PORT RESUMED ON 5 MAY.ANTOFAGASTA - DURING MAINTENANCE, TESTING OF PIPELINE THAT TRANSPORTS CONCENTRATES FROM PROCESSING PLANT AT LOS PELAMBRES TO PORT AT LOS VILOS REVEALED BLOCKAGE.ESTIMATED THAT IT WILL TAKE UP TO 3 MONTHS FOR STOCKPILES AT PLANT AND PORT TO RETURN TO NORMAL LEVELS.NO MATERIAL CAPITAL EXPENDITURE HAS BEEN INVOLVED IN BRINGING PIPELINE BACK TO NORMAL OPERATIONS.FOR SIX MONTHS TO 30 JUNE SALES ARE EXPECTED TO BE IMPACTED BY SOME 15,000 TONNES.FOR FULL YEAR, IMPACT ON PRODUCTION AND SALES IS ESTIMATED TO BE LESS THAN 5,000 TONNES FOR BOTH.PRODUCTION GUIDANCE FOR FULL YEAR REMAINS UNCHANGED AT 705- 740,000 TONNES.  Full Article

Antofagasta Says ‍Q4 Copper Production At 704,300 Tonnes
Wednesday, 24 Jan 2018 02:00am EST 

Jan 24 (Reuters) - Antofagasta Plc ::‍Q4 COPPER PRODUCTION AT 704,300 TONNES WAS IN LINE WITH GUIDANCE AND CAME IN AT A NET CASH COST OF $1.25/LB​.‍GOLD PRODUCTION WAS 40,500 OUNCES IN Q4 2017, A 32.0% DECREASE ON Q3 2017 DUE TO LOWER GRADES AND RECOVERIES AT CENTINELA​.‍GROUP CASH COSTS IN 2018 BEFORE AND AFTER BY-PRODUCT CREDITS ARE EXPECTED TO BE $1.65/LB AND $1.35/LB RESPECTIVELY​.‍CAPITAL EXPENDITURE IN 2018 IS EXPECTED TO BE $1.0 BILLION​.PRODUCTION IN 2018 IS EXPECTED TO BE IN RANGE OF 705-740,000 TONNES OF COPPER, 190-210,000 OUNCES OF GOLD, 11,500-12,500 TONNES OF MOLYBDENUM​.‍LABOUR NEGOTIATIONS AT LOS PELAMBRES ARE EXPECTED TO BE CONCLUDED DURING Q1 2018​.‍LOS PELAMBRES PRODUCED 92,800 TONNES OF COPPER IN Q4 2017​.  Full Article

Miner Antofagasta says Q3 copper production up 3.3 pct
Wednesday, 25 Oct 2017 02:00am EDT 

Oct 25 (Reuters) - Antofagasta Plc ::‍GROUP COPPER PRODUCTION IN Q3 2017 WAS 180,200 TONNES, 3.3% HIGHER​.‍GOLD PRODUCTION DURING QUARTER INCREASED BY 1.2% TO 59,600 OUNCES​.ANTOFAGASTA PLC - ‍NOW EXPECT OUR NET CASH COSTS TO BE BELOW OUR ORIGINAL GUIDANCE FOR FULL YEAR OF $1.30/LB.​.ANTOFAGASTA - ‍COPPER PRODUCTION GUIDANCE FOR 2017 REMAINS UNCHANGED AT 685-720,000 TONNES, AND PRODUCTION IS EXPECTED TO INCREASE TO 705-740,000 TONNES IN 2018​.ANTOFAGASTA PLC - ‍IN 2018 PLAN TO INCREASE PRODUCTION TO 705-740,000 TONNES OF COPPER AS ENCUENTRO OXIDES RAMPS-UP TO FULL PRODUCTION​.‍CASH COSTS BEFORE BY-PRODUCT CREDITS GUIDANCE FOR FULL YEAR IS UNCHANGED AT $1.55/LB​.‍TOTAL CAPITAL EXPENDITURE FOR YEAR IS EXPECTED TO BE APPROXIMATELY $900 MILLION​.‍LABOUR NEGOTIATIONS HAVE COMMENCED AT LOS PELAMBRES AND ARE EXPECTED TO BE CONCLUDED BEFORE DEADLINE IN FEBRUARY 2018​.ANTOFAGASTA - ‍FY NET CASH COSTS ARE NOW EXPECTED TO BE LOWER THAN $1.30/LB GUIDED AT BEGINNING OF YEAR REFLECTING STRONGER THAN EXPECTED BY-PRODUCT REVENUE​.  Full Article

Antofagasta posts H1 PBT of $689.1 mln vs $276.5 mln a year ago
Tuesday, 22 Aug 2017 02:00am EDT 

Aug 22 (Reuters) - Antofagasta Plc :H1 REVENUE 41.9% HIGHER AT $2,049 MILLION, AS REALISED COPPER PRICES INCREASED BY 25.3% AND SALES VOLUMES INCREASED BY 14.3%.H1 EBITDA INCREASED 87.8% TO $1,079.8 MILLION MAINLY DUE TO HIGHER REVENUES.SAYS ‍UNIT COSTS FOR FULL YEAR ARE UNCHANGED​.H1 PROFIT BEFORE TAX $689.1 MILLION VERSUS $276.5 MILLION A YEAR AGO.H1 EBITDA MARGIN TO 52.7%, UP FROM 39.8% IN SAME PERIOD LAST YEAR AND 44.9% FOR FULL YEAR 2016.H1 CAPITAL EXPENDITURE OF $410.0 MILLION, 46% OF FULL YEAR GUIDANCE.H1 EPS OF 29.5 CENTS.AT JUNE 30, GROUP NET DEBT REDUCED BY $212.1 MILLION TO $859.6 MILLION.INTERIM DIVIDEND OF 10.3 CENTS PER SHARE.CAPITAL EXPENDITURE GUIDANCE FOR FULL YEAR UNCHANGED AT $900 MILLION.SAYS ‍PRODUCTION FOR YEAR IS EXPECTED TO BE HIGHER IN SECOND HALF OF YEAR WITH ENCUENTRO OXIDES PROJECT COMING INTO OPERATION.IN H1 OPERATING COST REDUCTIONS OF $44 MILLION ACHIEVED CONTRIBUTING TO SAVINGS OF $0.06/LB IN CASH COSTS DURING CURRENT PERIOD.ON TRACK TO ACHIEVE SAVINGS TARGET OF $140 MILLION DURING 2017 WITH A MAJORITY OF COST SAVINGS EXPECTED DURING SECOND HALF OF YEAR.MID TO LONGER TERM ‍OUTLOOK CONTINUES TO BE FAVOURABLE AS DEMAND IS EXPECTED TO GROW AT AROUND 2% WHILE SUPPLY GROWTH REMAINS CONSTRAINED​.SAYS ‍IN SHORTER TERM, MARKET IS MOVING TO A TIGHTER DEMAND-SUPPLY POSITION WITH A SMALL DEFICIT EXPECTED THIS YEAR AND NEXT​.  Full Article

Antofagasta says HY copper output up 7.1 percent
Wednesday, 26 Jul 2017 02:00am EDT 

July 26 (Reuters) - ANTOFAGASTA PLC ::ANTOFAGASTA PLC - NET CASH COSTS WERE $1.20/LB IN Q2 2017, A 5.5% DECREASE COMPARED WITH PREVIOUS QUARTER.SAYS GROUP COPPER PRODUCTION IN Q2 2017 WAS 174,400 TONNES, 1.5% HIGHER THAN IN PREVIOUS QUARTER.GROUP COPPER PRODUCTION IN Q2 2017 WAS 174,400 TONNES, 1.5% HIGHER THAN IN PREVIOUS QUARTER.ANTOFAGASTA PLC - COPPER PRODUCTION FOR 2017 IS EXPECTED TO BE BETWEEN 685,000 AND 720,000 TONNES, UNCHANGED FROM BEGINNING OF YEAR.GOLD PRODUCTION DURING QUARTER INCREASED BY 10.5% TO 58,900 OUNCES.ANTOFAGASTA PLC - COST GUIDANCE FOR FULL YEAR IS UNCHANGED WITH CASH COSTS BEFORE BY-PRODUCT CREDITS EXPECTED TO BE $1.55/LB AND NET CASH COST OF $1.30/LB.PRODUCTION AND COSTS REMAIN IN-LINE WITH EXPECTATIONS AND GUIDANCE FOR YEAR IS UNCHANGED.SAYS "PRODUCTION AND COSTS REMAIN IN-LINE WITH OUR EXPECTATIONS AND OUR GUIDANCE FOR YEAR IS UNCHANGED".COPPER PRODUCTION FOR 2017 IS EXPECTED TO BE BETWEEN 685,000 AND 720,000 TONNES.COST GUIDANCE FOR FULL YEAR IS UNCHANGED.  Full Article

Antofagasta says Q1 copper production up 9.4 pct; guidance unchanged
Wednesday, 26 Apr 2017 02:00am EDT 

April 26 (Reuters) - Antofagasta Plc ::Q1 molybdenum production at los pelambres increased by 29.4 pct compared to same period in 2016.Q1 gold production was 53,300 ounces in q1 2017, 6.0 pct lower than in q1 2016 and 41.5 pct lower than in previous quarter.Q1 copper production in q1 2017 increased by 9.4 pct compared with same quarter in 2016 to 171,900 tonnes with higher production at centinela.Cash costs before by-product credits in quarter improved by 7.6 pct compared to q1 2016 to $1.59/lb.Cash costs before by-product credits were 8.9 pct higher than in q4 2016.Increase is mainly related to lower production partly offset by productivity improvements and cost savings.Net cash costs were $1.27/lb in q1 2017, 7.3 pct lower than in q1 2016 and 12.4 pct higher than previous quarter.Guidance is unchanged.Group copper production for full year is expected to be 685-720,000 tonnes, with production higher in second half of year than in first.  Full Article

Antofagasta says World Bank's ICSID confirmed Pakistan violated bilateral Treaty
Tuesday, 21 Mar 2017 07:12am EDT 

Antofagasta Plc : REKO DIQ Project arbitration ruling . ICSID Tribunal decision rejected Pakistan's defence against liability, confirmed that Pakistan had violated several provisions of bilateral investment treaty . damages phase of proceedings will begin on march 22; tribunal will consider submissions from parties to determine amount that Pakistan must pay TCC . Ruling on quantum of damages is expected in 2018. . At conclusion of this phase, Tethyan will receive an award entitling it to fair market value of project at time that mining lease application was denied . Tribunal of world bank's ICSID issued decision on arbitration claims that Tethyan copper filed against Pakistan .Tribunal decision on claims that Tethyan copper filed in relation to unlawful denial of mining lease for REKO DIQ project in Pakistan in 2011.  Full Article

Antofagasta FY pretax profit rises 17.2 pct to $284.6 mln
Tuesday, 14 Mar 2017 03:06am EDT 

Antofagasta Plc : Fy revenue rose 12.3 percent to $3.622 billion . FY pretax profit rose 17.2 pct to $284.6 million . Final dividend $0.153 per share . Total dividend $0.184 per share . To declare a final dividend of 15.3 cents per share, bringing dividend for full year to 18.4 cents per share . Fy capital expenditure down by 24.2 pct to $795.1 million . Fy ebitda $1,626.1 million, 78.7% higher than previous year . Fy operating cost reduction of $242 million . Fy group copper production increased to 709,400 tonnes by 12.5% compared to 2015 . FY group cash costs before by-product credits were $1.54/lb, 27c/lb lower than last year . Production in 2017 is expected to be 685-720,000 tonnes of copper 185-205,000 ounces of gold and 8,500-9,500 tonnes of molybdenum . In medium term, expect to see a steady shift from a copper market in balance to a slight deficit, leading to further improvement in prices . In 2017, further cost savings of $140 million under cost and competitiveness programme are included in unit cost guidance figures . Cash cost before by-product credits in 2017 expected to be similar to 2016 at $1.55/lb,net cash cost are expected to be about $1.30/lb . Capital expenditure for 2017 is estimated at less than $900 million with some $100 million carried over from 2016 . Group does not foresee copper returning to lows of 2016.  Full Article

Antofagasta to exit Chilean hydropower project
Friday, 20 Jan 2017 02:00am EST 

Antofagasta Plc : Los pelambres had entered into a power purchase agreement with Alto Maipo for provision of up to 110mw over a 20 year period from completion date of project . Los Pelambres's carrying value of project is $356 million .Agreement with Alto Maipo for provision of up to 110mw over a 20 year period from completion date of project..  Full Article

Aes Gener says to acquire Antofagasta's stake in Alto Maipo
Thursday, 19 Jan 2017 03:38pm EST 

Aes Gener Sa : Aes gener says will acquire antofagasta's 40 percent stake in alto maipo power project . Aes gener says costs on project overran by 22 percent Further company coverage: [ASG.SN] (Reporting By Rosalba O'Brien) ((rosalba.obrien@thomsonreuters.com;)).  Full Article

Chile's Antofagasta sells electricity transmission business

July 13 Chilean copper producer Antofagasta Plc has sold its electricity transmission business Centinela Transmisión for $117 million, the company said on Friday.