Antofagasta 2016 Earnings Rise
March 14 2017 - 4:08AM
Dow Jones News
By Razak Musah Baba
LONDON--Antofagasta PLC (ANTO.LN) on Tuesday reported a rise in
2016 earnings after a strong performance from its Centinela copper
mine helped boost production.
The Chilean miner's full-year earnings before interest, taxes,
depreciation and amortization, or Ebitda, rose 79% to $1.63 billion
from $910.1 million a year earlier. Revenue rose 12% to $3.62
billion from $3.23 billion.
Antofagasta declared a final dividend of 15.3 cents a share,
bringing the full-year dividend to 18.4 cents a share.
"The successful integration of Zaldívar and the ramp-up of
Antucoya--alongside the completion of the expansion of Centinela
Concentrates--have contributed to a 12.5% rise in copper production
to 709,400 tons," Chief Exceutive Iván Arriagada said. In 2017, the
company foresees incremental expansion at its Los Pelambres
project, the CEO added.
Antofagasta said capital expenditure for 2017 is estimated at
less than $900 million with some $100 million carried over from
2016. Capital expenditure in 2016 was down by 24% to $795.1
million, compared to 2015.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
March 14, 2017 03:53 ET (07:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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