Antofagasta Plc · LSE:ANTO
Antofagasta — Shareholder Meeting (May 2024)
17 slides from Antofagasta's shareholder meeting presentation, May 8, 2024
Slide 1: Delivering Performance and Growth
Delivering Performance and Growth Annual General Meeting 8 May 2024
Slide 2: Cautionary statement
Cautionary statement This presentation has been prepared by Antofagasta plc. By reviewing and/or attending this presentation you agree to the following conditions: This presentation contains forward-looking statements. All statements other than historical facts are forward-looking statements. Exampl
Slide 3: Focused on our purpose
Focused on our purpose ANTOFAGASTA PLC Developing mining for a better future Image: Haul truck at Centinela. 3
Slide 4: Continuing our safety journey
Health and safety ANTOFAGASTA PLC Continuing our safety journey Chart: Injury frequency rates vs. peers Total Recordable Injury Freq. Rate 8 6 4 2 0 Antofagasta ICMM Member Average Image: Senior Engineer, Operational Excellence at Centinela. 4
Slide 5: Promoting diversity in our workforce
Our People ANTOFAGASTA PLC Promoting diversity in our workforce Chart: Workforce gender diversity 35% 30% 25% 20% 15% Target: 30.0% 10% 10.4% 14.7% 17.2% 20.4% 23.6% 5% 8.8% 0% 2018 2019 2020 2021 2022 2023 2025 Image: Finished cathodes ready for shipment. 5
Slide 6: Climate change: Our path to decarbonisation
Climate change: Our path to decarbonisation ANTOFAGASTA PLC Updated emissions reduction targets SCOPE 1 AND 2 TARGET: Chart: Scope 1 and 2 emissions intensity1 3.00 2.50 2.00 50% REDUCTION BY 2035 (ABSOLUTE BASIS)1 tCO2e/tCu 1.50 SCOPE 3 TARGET: 10% 1.00 Target: 0.50 2.79 2.56 1.75 1.69 0.00 2020 20
Slide 7: Responsible water use
Responsible water use ANTOFAGASTA PLC Ramping up desalination capacity Water withdrawals (Group-level) 100% Water withdrawals 50% Group-level target 90% for water use from sea water and recirculated water 0% sources 2018 2019 2020 2021 2022 2023 Sea water Groundwater Surface water Image: Los Pelambr
Slide 8: Biodiversity conservation
Biodiversity conservation ANTOFAGASTA PLC Protecting natural habitats Copper Mark Nature positive received at all four of our mines. 2024 commitment made in 2024. Los Pelambres Tailings facilities 6x supports 6x its land footprint in protected GISTM compliant with industry best- practice environment
Slide 9: Local communities: Long-established relationships
Local communities: Long-established relationships A selection of recent projects, initiatives and recognition Public alliance supporting those Somos Choapa: Recognised by CESFAM medical centre opened affected by recent forest fires in UN’s Global Compact in March 2023 the Valparaíso Region Programme
Slide 10: Building a major copper producer
ANTOFAGASTA PLC Building a major copper producer 1983-2023: 40 years of investing in copper Los Pelambres Centinela Concentrates Antucoya (2000-present) (2011-present) (2015-present) 1,000 Cu production (ktpa) 500 0 2024 guidance 2010 2011 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Slide 11: Copper market: Fundamental value
Copper market: Fundamental value ANTOFAGASTA PLC Reduced volatility in 2023 and positive fundamentals in early 2024 5.00 2023 average market price $3.85/lb 4.50 (2022: $4.00/lb) Copper price ($/lb) 4.00 April 2024: 1 Copper prices rising 3.50 $4.30 /lb c.10-15% in Q2 2024 3.00 31-Dec 31-Mar 30-Jun 3
Slide 12: Los Pelambres: Pipeline of projects
Los Pelambres: Pipeline of projects ANTOFAGASTA PLC Construction of Phase 1 Expansion Project completed in 2023 Completed 2023 2024-2027 From 2027 Phase 1 Future Phase 2 Expansion enablers Expansion Project Project Desalination plant Desalination plant Mine life extension (400 l/s) (800 l/s) (+15 ye
Slide 13: Centinela Second Concentrator
Centinela Second Concentrator Second Concentrator adding 170kt of copper-equivalent production 8 Targeting 1st +300kt quartile PRIMARY CRUSHER 3 production ORE TRANSPORT SYSTEM CONCENTRATE PLANT MOLYBDENUM PLANT EXPANSION WATER SYSTEM 3.1 SECONDARY CRUSHER Moving towards 3.2 TERTIARY CRUSHER 3.3 MOL
Slide 14: Innovation
ANTOFAGASTA PLC Innovation Deploying modern technology to increase output and maintain margins Image: Los Pelambres integrated remote operations centre in Santiago. 14
Slide 15: 2023 Summary: Delivering performance and growth
ANTOFAGASTA PLC 2023 Summary Delivering performance and growth COPPER PRODUCTION 661kt (2022: 646.2kt) EBITDA +5% (2023: $3,087m) NET DEBT / EBITDA1 0.38x (2022: 0.30x) FINAL DIVIDEND2 (PROPOSED) 24.3 cents (Eq. FY23 total distribution: 50% of earnings.) 1. Net debt / EBITDA figures as of 31 Decembe
Slide 16: Key priorities for 2024
Key priorities for 2024 • Maintain strong safety and sustainability performance. • Achieve production and cost guidance. • Effective execution of key growth and development projects. • Maintain our strong balance sheet and financial position. • Continue to develop longer-term pipeline of projects. I
Slide 17: Delivering Performance and Growth
Delivering Performance and Growth Annual General Meeting 8 May 2024