https://www.miningweekly.com

Antofagasta slashes annual dividend after profit falls

21st February 2023

By: Reuters

  

Font size: - +

Chilean miner Antofagasta on Tuesday more than halved its annual dividend and said its full-year profit dropped 39%, as high input costs, reduced copper grades, and a drought in Chile hit its copper production.

The group's earnings before interest, tax, depreciation, and amortisation for 2022 was $2.9-billion, compared with $4.84-billion a year ago.

Antofagasta declared a final dividend of 50.5 cents per share for investors, bringing the total payout to 59.7 cents in 2022.

The company had made a record shareholder payout of 142.5 cents per share in 2021, amounting to $1.4 billion, when surging copper prices had helped it post its highest-ever profit.

The miner on Tuesday also reiterated its forecast for copper production and capital expenditure in 2023.

Usage of copper, a metal often used as a gauge of global economic health, is expected to increase as countries around the world look to make a big shift towards green energy.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
Aluminium Federation of South Africa
Aluminium Federation of South Africa

The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.871s - 110pq - 2rq
Subscribe Now