The Lemon Fool

On 15 August severe sea swells overturned a construction platform working on the marine works of the Los Pelambres desalination plant project. There has been no significant environmental impact or damage to the works, and some of the equipment and materials lost have been recovered. However, the swells have continued which have impeded further recovery work and the Chilean environmental authority, the SMA, has required on 9 September that as a precautionary measure marine works should be placed on hold until the clean-up of the remaining sunk equipment carrying fuel or lubricants is progressed such that any risk of environmental impact is removed.

The recovery of the lost equipment and materials is underway and is expected to be completed once weather conditions improve. To date, there has been no material impact to the expected completion date of the overall desalination plant project.

The site is being closely monitored for any potential environmental impact and teams are on standby to take action if required.

Access to the Company's Los Pelambres operation in the Coquimbo Region is being blocked by a small group of people, without connection to any specific incident or situation, but who are requesting compensation to clear access. This situation has continued for some days and affects the transport of critical supplies and personnel to the mine site.

To date there has been no material impact on production although work on mine development has been reduced over the period. The authorities are working to clear the blockade and the Company is engaging with them and representatives of the local communities to jointly resolve the situation.

The Company will make a further announcement if the situation continues and a material impact is expected.

Newroad wrote:ANTO's next on my purchase list (due to be made early next month). Nice to see the price drop today, in context.
Any significant thoughts, all other things being equal?

Antofagasta plc CEO, Iván Arriagada said: "Antofagasta´s production and cost performance in the first quarter was as expected with copper production at 145,900 tonnes and net cash costs at $1.54/lb with production affected by reduced water availability at Los Pelambres and lower grades at Centinela. With the completion of the desalination plant and the concentrator plant expansion at Los Pelambres production will increase during the year to meet production and cash cost guidance of 670-710,000 tonnes of copper at $1.65/lb.

"Controlling our costs in this inflationary environment and mitigating the impact of a stronger Chilean peso continue to be our focus, together with the safety and health of our employees and contractors.

"The copper market has been strong throughout the quarter, and we expect this to continue as structural supply and demand dynamics support a tight physical market."

Antofagasta plc ("Antofagasta" or the "Company") has today released its second Social Value Report as part of its commitment to transparency and in line with its purpose of developing mining for a better future.

This report describes the community engagement programmes and practices that the Company has implemented to create social value in the areas where it operates.

The Company has been implementing an impact measurement system since 2018 to evaluate the effectiveness of its community engagement programme, which is based on three methodologies: SROI (Social Return on Investment), Territorial Human Wellbeing Matrix and an analysis that measures the contribution to the SDGs (Social Development Goals, which the United Nations set in 2015).

Antofagasta believes its sustainability programme plays a critical role in its various collaborations with public institutions and communities. The Company works to create a net positive impact on the areas around its operations, improving peoples' quality of life.

Antofagasta's CEO, Iván Arriagada said: "We are pleased to report various achievements at the corporate and regional levels. These include the updating of our Human Rights Policy and the development of an Indigenous Peoples Engagement Standard (in 2022)".

Further to the half year results announcement on 10 August 2023, the Sterling equivalent of the interim dividend of 11.7 US cents will be 9.3645 pence per ordinary share, based on an exchange rate of £1 = US$1.2494, and the Euro equivalent will be 10.9264 Euro cents per ordinary share, based on an exchange rate of €1 = US$1.0708.

Antofagasta plc ("Antofagasta" or the "Company"), a global leader in the mining industry, is pleased to announce the release of its second Climate Change Report, underscoring the Company's commitment to sustainability and responsible business practices.

In line with Antofagasta's dedication to transparency and accountability, the report published today provides a detailed overview of the Company's efforts and progress made to date in addressing climate change and reducing its environmental footprint. The report also includes the Company's inaugural summary of its Scope 3 emissions, which follows a two-year process to improve the understanding of the emissions that relate to activities in the Company's value chain.

Antofagasta plc ("Antofagasta") announces that through a wholly owned subsidiary, it has entered into transactions in the secondary market to acquire beneficial ownership of approximately 19% of the outstanding shares of Compañía de Minas Buenaventura S.A.A. ("Buenaventura"). Buenaventura is Peru's largest, publicly traded precious and base metals company and a major holder of mining rights in Peru.

Antofagasta plc ("Antofagasta" or the "Company"), a global leader in the copper mining industry, is pleased to announce that after an extensive review, the construction of the Centinela Second Concentrator Project has been approved. Critical path works will begin immediately with full construction expected to commence after definitive project finance documents have been executed during Q1 2024.

Antofagasta plc ("Antofagasta" or the "Company") has today published the following reports: the 2023 Annual Report and Accounts, the 2024 Notice of Annual General Meeting, 2023 Sustainability Report, and a new Climate Action Plan. In addition, the Company has provided a corporate update on previous announcements regarding the Los Pelambres concentrate pipeline and investment in Compañía de Minas Buenaventura S.A.A.