Antofagasta plc (ANTO) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, I am Iván Arriaga, Chief Executive of Antofagasta. Today we published our financial results for the first half of 2023. And so together with our CFO, Mauricio Ortiz, and our VP of Sustainability and Corporate Affairs, René Aguilar, we're going to present the results. I will begin with a brief overview of our performance before handing over to Mauricio and René who will provide more detail on our financial results and our recent progress in sustainability. Here we have the usual cautionary statement which I encourage you to read as it is important. Our presentation today will cover the four main areas shown here. Before we begin, I would like to remind you of Antofagasta's purpose, developing mining for a better future. Through this purpose, we put sustainability at the heart of our business. We aim to mine and produce copper in a socially and environmentally responsible manner, with a positive contribution to all of our stakeholders. Here we can see a good example of our purpose in action. In the first half of this year, we opened a remote operating center for Los Pelambres. Through remote operations, we see benefits in safety by removing people from risk environments. Safety remains our priority and I am pleased to report that we had another period of positive safety performance. We continue to operate with no fatal accidents and safety indicators remain at historically low levels. However, we are not complacent and later René will talk you through some of our initiatives that continue to help embed a safety-first culture across our business. On financial performance, revenues rose by 14%, despite a 3% decline in the realized copper price. Our EBITDA margins remain resilient, with a margin of 46% in the first half, which is in line year on year. We have long ...