Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Antofagasta PLC (ANTO)

  Print      Mail a friend       Annual reports

Wednesday 30 April, 2003

Antofagasta PLC

Quarterly Production Report

Antofagasta PLC
30 April 2003

30 April 2003

Antofagasta plc
Quarterly Production Report - Q1 2003


•         Group copper production in Q1 of 105,800 tonnes

•         Group cash costs remain below 40 cents per pound

•         Continuing optimisation at El Tesoro results in record 23,400 tonnes
          of cathodes

                                           Q1       Q2        Q3        Q4        Acc        Acc     Full Year
Group Total                              2003     2003      2003      2003       2003       2002          2002

Total copper production
('000 tonnes)                           105.8                                   105.8      108.9         460.7

Weighted average
Cash costs (cents per pound)             39.8                                    39.8       39.2          38.9

Los Pelambres

Early maintenance on both grinding lines reduced ore processing levels in Q1 to
107,100 tonnes per day (tpd) compared with an average of 110,500 tpd during
2002.  Processing levels have now reverted to normal levels after completion of
maintenance and an average of 115,000 tpd for the year is forecast.  As expected
in the mine plan, ore grades decreased to 0.88% compared with 0.91% in 2002.
Consequently, copper production at Los Pelambres was 71,500 tonnes in Q1.  With
increased throughput expected for the remainder of the year, forecast production
remains at 325,000 tonnes of payable copper, compared with 324,600 tonnes in the
2002 full year.

Cash costs of 34.4 cents per pound compared to an average of 34.9 cents per
pound in 2002.  Molybdenum prices averaged US$4.00 per pound in Q1 compared with
US$3.70 per pound in 2002.  If these prices continue, cash costs at Los
Pelambres should be maintained at similar levels for the remainder of the year.

El Tesoro

Cathode production reached 23,400 tonnes, 12.4% above the quarterly average for
2002, resulting from higher throughput and increased metallurgical recoveries.
The higher recoveries resulted from blending of ores at the primary crusher
providing material for the leaching pads.   Production for the year is estimated
to be at least 85,000 tonnes.

Cash costs were 40.6 cents per pound, in line with the 2002 average of 40.8
cents per pound and are expected to remain at a similar level for the remainder
of the year.


Michilla produced 10,900 tonnes of cathodes, 14.3% lower than the quarterly
average for 2002 due to the installation and start-up of additional crushing
capacity.  The crushing capacity has now been increased and consequently
production levels are expected to be similar to 2002.

Cash costs in Q1 jumped to 73.1 cents per pound, compared with 61.4 cents in
2002, due to the lower processing levels and higher costs under the current
phase of the mine plan, but cash costs for the year are expected to revert to
average of 64.5 cents per pound, helped by the increased crushing capacity and
with better grades expected in the second half of the year.

Rail and Road Transport

Rail tonnages decreased by 7% to 946,000 tons compared to the 2002 quarterly
average due to reduced shipments of cathodes and sulphuric acid from El Abra and
the decision by Codelco to stockpile some of its production.  The Railway
expects to move part of the tonnage stockpiled during the course of the year.

                                         Q1        Q2           Q3        Q4        Acc        Acc     Full Year
Los Pelambres                          2003      2003         2003      2003       2003       2002          2002

Daily average ore treated
('000 tonnes)                         107.1                                       107.1      113.6         110.5

Average ore grade
(%)                                    0.88                                        0.88       0.89          0.91

Average recovery
(%)                                    90.1                                        90.1       91.2          91.1

Concentrate produced
('000 tonnes)                         172.7                                       172.7      189.7         811.8

Average concentrate grade
(%)                                    42.8                                        42.8       42.1          41.3

Fine copper in concentrate
('000 tonnes)                          73.9                                        73.9       79.8         335.5

Payable copper in concentrate
('000 tonnes)                          71.5                                        71.5       77.2         324.6

Payable moly in concentrate
('000 tonnes)                           1.8                                         1.8        2.4           7.8

Cash costs
(cents per pound)                      34.4                                        34.4       35.9          34.9

                                        Q1        Q2           Q3        Q4       Acc       Acc     Full Year
El Tesoro                             2003      2003         2003      2003      2003      2002          2002

Daily average ore treated
('000 tonnes)                         22.7                                       22.7      20.6          20.5

Average ore grade
(%)                                   1.48                                       1.48      1.34          1.50

Average recovery
(%)                                   77.0                                       77.0      76.5          74.4

Copper cathodes
('000 tonnes)                         23.4                                       23.4      19.3          84.3

Cash costs
(cents per pound)                     40.6                                       40.6      39.6          40.8

                                        Q1        Q2           Q3        Q4       Acc       Acc     Full Year
Michilla                              2003      2003         2003      2003      2003      2002          2002

Daily average ore treated
('000 tonnes)                         12.4                                       12.4      11.8          13.4

Average ore grade
(%)                                   1.35                                       1.35      1.48          1.39

Average recovery
(%)                                   75.1                                       75.1      77.4          75.6

Copper cathodes
('000 tonnes)                         10.9                                       10.9      12.5          51.8

Cash costs
(cents per pound)                     73.1                                       73.1      59.0          61.4

                                        Q1        Q2           Q3        Q4       Acc        Acc     Full Year
Transport                             2003      2003         2003      2003      2003       2002          2002

Rail tonnage transported
('000 tons)                            946                                        946      1,037         4,142

For further enquiries:

Philip Adeane, Antofagasta plc                           (44) 20 7382 7862
Hussein Barma, Antofagasta plc                               (44) 20 7382 7862

Alejandro Rivera, Antofagasta Minerals                                   (56-2) 377 5145

Issued by:

Keith Irons, Bankside Consultants                                     (44) 20 7444 4155

                      This information is provided by RNS
            The company news service from the London Stock Exchange