Antofagasta PLC

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Antofagasta plc
Type Public company
Traded as LSEANTO
Industry Mining
Founded 1888
Headquarters London, United Kingdom
Santiago, Chile
Area served Worldwide
Key people Jean-Paul Luksic Fontbona
(Chairman of the Board)
Desmond O'Conor (CEO)
Products Copper
Revenue US$5,971.6 million (2013)[1]
Operating income US$2,157.7 million (2013)[1]
Profit US$1,239.8 million (2013)[1]
Divisions Antofagasta Mining
Antofagasta Transport
Antofagasta Water
Website Antofagasta.co.uk

Antofagasta plc is a Chilean business that operates in various sectors of the economy. It is one of the most important conglomerates of Chile with equity participation in Antofagasta Minerals, the railroad from Antofagasta to Bolivia, Aguas Antofagasta in Chile, Tethian in Australia and other investments in different parts from the world.

Antofagasta is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £12.1 billion as of 23 December 2011, making it the 33rd-largest company on the London Stock Exchange.[2]

History[edit]

The Group began life as Ferrocarril de Antofagasta a Bolivia, a business that was incorporated and listed on the London Stock Exchange in 1888 with the objective of operating a railway between Antofagasta, a port on the Pacific Coast of Northern Chile, and La Paz, the capital City of Bolivia.[3]

In 1980, a majority the shares was acquired by the Grupo Luksic and the two businesses were subsequently integrated under the name Antofagasta Holdings.[3]

During the 1980s, Antofagasta Holdings diversified into other areas such as mining in Michilla, in which it invested in 1983, and mining in the Pelambres, in which it invested in 1986, in addition to telecommunications.[3]

In 1996, Antofagasta Holdings transferred its banking activities and its industrial interests to Quiñenco S.A., another diversified Chilean company also controlled by the Luksic family.[4] This transfer allowed Antofagasta Holdings to concentrate on the development of the Pelambres and the Tesoro mines and establish itself as a low cost copper producer.[3] The shortened name, Antofagasta, was adopted in 1999.[3]

Operations[edit]

Today, Antofagasta is one of the major international copper producers with its activities concentrated mainly in Chile where it now operates four copper mines: Pelambres, Tesoro, Michilla and Esperanza.

Antofagasta Minerals, is also active in mineral exploration in Chile and Peru. In addition, the group runs an extensive railway network in north of Chile, centered in the port of Antofagasta. It also operates a concession for the distribution of the water in this region.

Ownership[edit]

The company is still 65% owned by the Chilean Luksic family.[5]

References[edit]

  1. ^ a b c "Preliminary Results 2013" (PDF). Retrieved 18 March 2014. 
  2. ^ "FTSE All-Share Index Ranking". stockchallenge.co.uk. Retrieved 26 December 2011. 
  3. ^ a b c d e "History". Antofagasta. Retrieved 18 April 2011. 
  4. ^ "The Lusic fellowship for Croatia". Hks.harvard.edu. Archived from the original on 24 May 2011. Retrieved 18 April 2011. 
  5. ^ Terry Macalister and Charlotte Moore (14 September 2005). "Antofagasta rides the copper frenzy though price falls are on the horizon". Guardian (UK). Retrieved 18 April 2011. 

External links[edit]