December 20, 2014 8:23 PM ET

Metals and Mining

Company Overview of Antofagasta Minerals S.A.

Company Overview

Antofagasta Minerals S.A. explores, produces, and sells copper and other minerals. The company produces copper concentrate and copper cathodes, gold, silver, and molybdenum. It sells its copper concentrate to smelters to extract silver and gold; and molybdenum concentrate for processing and refining. The company undertakes projects in Santiago, Chile; and Saint Paul, Minnesota. Antofagasta Minerals S.A. was formerly known as Anaconda Chile S.A. The company was founded in 1980 and is based in Las Condes, Chile with additional offices in Toronto, Canada; Lima, Peru; London, United Kingdom; Shanghai, China; and Queensland, Australia. It also has operations in Antofagasta, Chile; and exploration...

Av. Apoquindo 4001

Piso 18

Las Condes,  7550162

Chile

Founded in 1980

Phone:

56 2 798 7000

Fax:

56 2 798 7445

Key Executives for Antofagasta Minerals S.A.

Chief Executive Officer
Age: 65
Vice-President of Operations
Managing Director
Age: 81
Vice-President of Human Resources
Vice-President of Development
Compensation as of Fiscal Year 2014.

Antofagasta Minerals S.A. Key Developments

Antofagasta PLC Names Iván Arriagada Herrera as the CEO of Antofagasta Minerals, with Effect from February 16, 2015

Antofagasta PLC announced that Iván Arriagada Herrera has been named as the CEO of Antofagasta Minerals, with effect from February 16, 2015. Iván Arriagada, 51, has served as Vice President of Administration and Finance at Codelco since 2012. Prior to that, he held various positions at BHP Billiton, including President at Pampa Norte, Vice President of Production for the Base Metals division, and Chief Financial Officer for the Base Metals division.

Antofagasta Minerals to Cease Operations at Chile's Michilla by the End of 2015

Antofagasta Minerals has unveiled a plan to cease Michilla operations by the end of 2015, as the depletion of the reserves means a large-scale mining operation is no longer justified. Michilla currently produces around 44,000 tonnes of fine copper per year, and it is expected to have an output of 30,000 tonnes of copper in 2015 - more than 40% lower than the record registered in 2003. Situated in the north Chile region of Antofagasta, Minera Michilla produces copper cathodes and accounts for about 6% of total production of the mining group, which also owns Los Pelambres and Minera Centinela, both also in Chile. While no longer suitable for a large-scale mining operation, remaining mining resources in Michilla's district could attract interest from medium-sized companies.

Antofagasta Minerals Reports Production Results for the Third Quarter and Nine Months Ended September 2014

Antofagasta Minerals reported production results for the third quarter and nine months ended September 2014. For the quarter, the company's total copper production decline 5% to 169,200t, compared to 178,800t in the previous quarter. The company announced that the decline was mainly due to lower plant throughput levels at its Los Pelambres and Centinela concentrates operations. Gold production was 64,700oz, sequentially down 3.4% from 67,000oz in the same year-ago period, due to lower grades at Centinela. For the nine months, the company's copper output declined 3.9% to 517,300t compared to the year-ago period, which the company attributed to lower grades. Gold production was 188,500oz, down 18.3% year-on-year.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 18, 2014
Chemical & Mining Co. of Chile Inc., Mining Rights
Merger/Acquisition
March 5, 2014
Pyramid Copper-Gold-Molybdenum Porphyry Deposit
 

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