Delivering
Performance
and Growth
Investor Presentation
Bank of America Conference
14-15 May 2024
Cautionary statement
This presentation has been prepared by Antofagasta plc. By reviewing and/or attending this presentation you agree to the following conditions:
This presentation contains forward-looking statements. All statements other than historical facts are forward-looking statements. Examples of forward- looking statements include those regarding the Group's strategy, plans, objectives or future operating or financial performance; reserve and resource estimates; commodity demand and trends in commodity prices; growth opportunities; and any assumptions underlying or relating to any of the foregoing. Words such as "intend", "aim", "project", "anticipate", "estimate", "plan", "believe", "expect", "may", "should", "will", "continue" and similar expressions identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that are beyond the Group's control. Given these risks, uncertainties and assumptions, actual results could differ materially from any future results expressed or implied by these forward-looking statements, which apply only as of the date of this presentation. Important factors that could cause actual results to differ from those in the forward-looking statements include: global economic conditions; demand, supply and prices for copper; long-term commodity price assumptions, as they materially affect the timing and feasibility of future projects and developments; trends in the copper mining industry and conditions of the international copper markets; the effect of currency exchange rates on commodity prices and operating costs; the availability and costs associated with mining inputs and labour; operating or technical difficulties in connection with mining or development activities; employee relations; litigation; and actions and activities of governmental authorities, including changes in laws, regulations or taxation. Except as required by applicable law, rule or regulation, the Group does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Certain statistical and other information about Antofagasta plc included in this presentation is sourced from publicly available third party sources. Such information presents the views of those third parties and may not necessarily correspond to the views held by Antofagasta plc.
This presentation is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy shares in Antofagasta plc or any other securities in any jurisdiction. Further it does not constitute a recommendation by Antofagasta plc or any other person to buy or sell shares in Antofagasta plc or any other securities.
Past performance cannot be relied on as a guide to future performance.
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ANTOFAGASTA PLC
Building a major copper producer
1983-2023: 40 years of investing in copper
Los Pelambres | Centinela Concentrates | Antucoya | ||||||||||||||||||||||||
(ktpa) | 1,000 | (2000-present) | (2011-present) | (2015-present) | ||||||||||||||||||||||
productionCu | 500 | |||||||||||||||||||||||||
0 | ||||||||||||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Michilla1 | Centinela Cathodes | Zaldívar2 |
(1983-2016) | (2001-present) | (2015-present) |
900kt |
guidance | Ambition |
2024 |
Image: Night sky at Antucoya.
1. Divestment of Michilla in 2016. 2. 50% interest in Zaldívar acquired by Antofagasta in 2015.
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2023 Summary
Delivering performance and growth
COPPER
PRODUCTION
EBITDA
NET DEBT /
EBITDA1
TOTAL
DIVIDEND
661kt
(2022: 646.2kt)
+5%
(2023: $3,087m)
0.38x
(2022: 0.30x)
50%
Of net earnings
1. Net debt / EBITDA figures as of 31 December.
Image: Los Pelambres' port facility at Los Vilos.
ANTOFAGASTA PLC
4
Delivering
Performance
and Growth
Investor Presentation
Bank of America Conference
14-15 May 2024
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Antofagasta plc published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 16:21:09 UTC.