Business
Preliminary Results for the full year to 31.12.21
Preliminary Results for the full year to 31.12.21.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3988C\n Antofagasta PLC\n 22 February 2022\n \n \n \n \n \n NEWS RELEASE, 22 FEBRUARY 2022\n \n \n \n \n \n PRELIMINARY RESULTS FOR THE\n \n \n YEAR ENDED 31 DECEMBER 2021\n \n \n Strong EBITDA and balance sheet\n \n \n \n \n \n \n Antofagasta plc CEO Iván Arriagada said:\n \n \n \"Antofagasta ended the year on a strong footing, generating revenues of $7.5 billion, reflecting the high copper prices during the year, and increasing our EBITDA by 77% to a record of $4.8 billion, yielding an EBITDA margin of 65%.\n \n \n These results illustrate our performance as a reliable and responsible copper producer with the operational and financial strength and balance sheet to deliver on our promises.\n \n \n \n \"Our mines and plants performed as planned and we can be proud of our achievements, regardless of the challenges of the year including COVID-19 and continued drought conditions in central Chile. Thanks to our team's commitment and motivation, we have been able to continue operating safely while contributing to the national economy in Chile and supporting local communities, socially and economically. \n \n \n \"We have made excellent progress on unlocking the embedded growth options in our portfolio with identified key brownfield developments and incremental growth within our asset portfolio. The expansion of Los Pelambres is now 68% complete and the desalination plant remains on track for completion in H2 2022. The Chloride Leach project at Zaldívar was completed in January 2022 and at Centinela, pre-stripping advanced over the year at the Esperanza Sur pit ready for mining ore for processing in the first half of 2022. \n \n \n \"Climate change remains a key focus for Antofagasta, and we have expanded our capital allocation framework to include climate risk factors and have set environmental commitments to significantly reduce our continental water consumption and emissions by 2025. By then around 90% of our water use will be sea or recirculated water and our GHG emissions will have reduced by our target of 30%. We also have clear social commitments to our workers and our communities to make our mines safer and greener\n \n \n \"Following the successful performance of the Company and considering our robust balance sheet and the continued strong copper price, the Board ha...