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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Antofagasta plc    ANTO   GB0000456144

ANTOFAGASTA PLC

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Antofagasta : Chile copper processor to cost less than expected, says CEO

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08/20/2020 | 08:33am EDT
FILE PHOTO: Group CEO of Antofagasta Minerals, Ivan Arriagada speaks during the CRU's World Copper Conference in Santiago

The construction of a second concentrator at Antofagasta's Centinela mine in Chile is likely to cost about 25% less than an original estimate of $2.7 billion (2.1 billion pounds), the mining company's chief executive said on Wednesday.

"We are looking at ways to reduce the upfront capital required by getting someone else to develop the water system ... so that will reduce the capital cost on the front end from the $2.7 billion probably to about $2 billion," Ivan Arriagada told Reuters.

Antofagasta, which has saved $78 million this year, expects to exceed its annual savings target of $100 million this year thanks to renegotiation of contracts and reorganisation of some work, Arriagada said.

(Reporting by Zandi Shabalala; Editing by David Goodman)


Stocks mentioned in the article
ChangeLast1st jan.
ANTOFAGASTA PLC -1.49% 1022 Delayed Quote.11.47%
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Financials (USD)
Sales 2020 4 549 M - -
Net income 2020 395 M - -
Net Debt 2020 339 M - -
P/E ratio 2020 29,3x
Yield 2020 1,70%
Capitalization 13 113 M 13 115 M -
EV / Sales 2020 2,96x
EV / Sales 2021 2,62x
Nbr of Employees 6 532
Free-Float 33,9%
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Technical analysis trends ANTOFAGASTA PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 18
Average target price 13,22 $
Last Close Price 13,30 $
Spread / Highest target 26,3%
Spread / Average Target -0,58%
Spread / Lowest Target -24,0%
EPS Revisions
Managers
NameTitle
IvŠn Arriagada Herrera Group Chief Executive Officer
Jean-Paul Luksic Fontbona Non-Executive Chairman
HernŠn Menares Vice President-Operations
Mauricio Ortiz Group Chief Financial Officer
Ramon F. Jara Non-Executive Director
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