Business
Los Pelambres Shipments of Copper Concentrates
Los Pelambres Shipments of Copper Concentrates.
About this update from Antofagasta Plc
[{"type":"text","content":"\n Antofagasta PLC\n14 January 2000\n\n\nAntofagasta plc\n\nRegistered Office TELEPHONE: 0171 374 8091\nPARK HOUSE TELEX: 8954 4284 ANRAIL G \n16 FINSBURY CIRCUS FACSIMILE: 0171 628 3773\nLONDON EC2M 7AH REGISTERED IN LONDON\nNo. 1627889\n\n\nFirst Shipments of Copper Concentrates from Los Pelambres\n\nLONDON: Friday, 14 January 2000 - Antofagasta plc (ANTO.L), the UK-listed\nmining group based in Chile, announces that shipments of copper concentrates\nbegan yesterday from its newly built Punta Chungo port facility at Los Vilos. \nThe initial shipment of 10,000 tonnes is destined for Japanese smelters. A\nsecond shipment of 25,000 tonnes is scheduled for 20 January.\n\nProduction of concentrates at the US$1.36 billion Los Pelambres mine began at\nthe end of October 1999. Los Pelambres is expected to reach full production\nby March 2000 and will produce thereafter an average of 271,000 tonnes of\ncopper in concentrates in the first five years and 246,000 tonnes per year\nover the 30-year mine life. \n \nAntofagasta holds a 60% equity interest in the mine and the remaining 40% is\nheld by two consortia of Japanese industrial groups, comprising Nippon Mining\nand Metals Co. Ltd, Marubeni Corporation and Mitsui and Co. Ltd. (25%) and\nMitsubishi Materials Corporation and Mitsubishi Corporation (15%).\n\nAntofagasta has a current market capitalisation of approximately £920 million\nand in addition to mining operations, its principal activities include rail\nand road transportation and water distribution. It also holds a 33.6%\ninvestment in Quinenco S.A., a diversified industrial and financial group\noperating in Latin America and listed in ADR form on the New York Stock\nExchange. \n\n\nEnquiries: Antofagasta \nPhilip Adeane, Managing Director Email: [email protected]\nHussein Barma, Chief Financial Officer [email protected]\nNeil Herbert, Financial Controller [email protected]\n Tel: +44 171 374 8091\nIssued By:\nKeith Irons Email: [email protected]\nBankside Consultants Limited \nTel: +44 171 220 7477\n\n\n \n ","length":2262,"tagName":"div"}]