https://newsletter.en.creamermedia.com
Copper|Energy|Solar
Copper|Energy|Solar
copper|energy|solar

Chilean miner Antofagasta's annual core profit rises 11%

18th February 2025

By: Reuters

  

Font size: - +

LONDON – Chilean copper miner Antofagasta posted an 11% jump in annual core profit on Tuesday, helped by higher metal prices.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year rose to $3.43-billion from $3.09-billion a year ago.

The copper miner's proposed final dividend of 23.5 cents a share is a 50% payout of underlying earnings per share.

Antofagasta made a record shareholder payout of 142.5 cents a share in 2021, amounting to $1.4-billion. Its policy is to return at least 35% of net earnings to shareholders.

It reported capital expenditure of $2.4-billion last year, and expects that to soar to $3.9-billion in 2025, as works on its Centinela concentrator peak.

The company, majority owned by Chile's Luksic family, operates four copper mines in the South American country.

Booming demand prospects for copper, used in energy transition applications, including solar panels and electric vehicles, sent the share price of pure play miners higher in 2024. Antofagasta's shares gained 15% for the year.

"We are encouraged by the outlook for copper as demand remains strong and global constraints, such as grade decline, ore hardness and capex inflation, are steadily limiting existing supply expansions," CEO Iván Arriagada said in a statement.

Edited by Reuters

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.157s - 167pq - 2rq
Subscribe Now