Chilean copper miner Antofagasta increased revenues and earnings by just under a third in 2011 on the back of record levels of output.
Group revenue rose 32.7% to $6.08bn - a record figure for the group - from $4.58bn the year before. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 32.1% to $3.66bn from $2.77bn in 2010.
After a year of record output, further production growth is forecast for 2012, with expected production of around 700,000 tonnes of copper, 280,000 ounces of gold and 11,000 tonnes of molybdenum. The increase in the copper and gold production reflects the first full-year of operation at Esperanza following the completion of the main ramp-up activities.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The total dividend for the year is 44 cents per share, comprising a special dividend of 24 cents per share and an ordinary dividend of 20 cents per share (final - 12 cents, interim - 8 cents).
More to follow ...
jh
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
