Antofagasta profit surges, will triple dividendStaff Writer | August 22, 2017
Antofagasta had a strong first half with revenues up 41.9% at $2,049m, as realised copper prices increased by 25.3% and sales volumes rose by 14.3% and EBITDA increased 87.8% to $1,079.8m.
Antofagasta Group net cash costs were 1.6% lower at $1.24/lb
Operating cost reductions of $44m were achieved, as part of the 'costs and competitiveness' programme, contributing to savings of $0.06/lb in cash costs during the current period
The board has declared an interim ordinary dividend of 10.3 cents per share, which represents a pay-out ratio of 35%, consistent with the group's dividend policy.
Chief executive Ivan Arriagada said: "Antofagasta has had a strong first half year, with EBITDA up 88% versus HY 2016. ■