REG - Antofagasta PLC - 2014 PRELIMINARY RESULTS <Origin Href="QuoteRef">ANTO.L</Origin> - Part 5

AntofagastaAnnouncement

17/03/2015 07:02

- Part 5: For the preceding part double click  ID:nRSQ5979Hd 

                                 2.38                     3.22                   3.30                     3.64                     
 Group weighted average (net of by-products)                                                           1.43                     1.36                   3.00                     3.28                     
                                                                                                                                                                                                         
 Group weighted average (before deducting by-products)                                                 1.83                     1.79                                                                     
                                                                                                                                                                                                         
 Group weighted average (before deducting by-products and excluding tolling charges from concentrate)  1.65                     1.65                                                                     
                                                                                                                                                                                                         
 Cash costs at Los Pelambres comprise:                                                                                                                                                                   
 On-site and shipping costs                                                                            1.35                     1.35                                                                     
 Tolling charges for concentrates                                                                      0.21                     0.17                                                                     
 Cash costs before deducting by-product credits                                                        1.56                     1.52                                                                     
 By-product credits (principally molybdenum)                                                           (0.38)                   (0.36)                                                                   
 Cash costs (net of by-product credits)                                                                1.18                     1.16                                                                     
                                                                                                                                                                                                         
 Cash costs at Centinela concentrates comprise:                                                                                                                                                          
 On-site and shipping costs                                                                            2.05                     2.16                                                                     
 Tolling charges for concentrates                                                                      0.24                     0.20                                                                     
 Cash costs before deducting by-product credits                                                        2.29                     2.36                                                                     
 By-product credits (principally gold)                                                                 (0.75)                   (0.93)                                                                   
 Cash costs (net of by-product credits)                                                                1.54                     1.43                                                                     
                                                                                                                                                                                                         
 LME average                                                                                                                                           3.11                     3.32                     
                                                                                                                                                                                $                        
 Gold                                                                                                                                                                                                    
 Los Pelambres                                                                                                                                         1,265                    1,362                    
 Centinela                                                                                                                                             1,261                    1,357                    
 Group weighted average                                                                                                                                1,262                    1,357                    
                                                                                                                                                                                                         
 Market average price                                                                                                                                  1,266                    1,410                    
                                                                                                                                                                                                         
                                                                                                                                                       US$                      US$                      
 Molybdenum                                                                                                                                                                                              
 Los Pelambres                                                                                                                                         11.0                     10.0                     
                                                                                                                                                                                                         
 Market average price                                                                                                                                  11.4                     10.3                     
                                                                                                                                                                                                         
 Silver                                                                                                                                                                                                  
 Los Pelambres                                                                                                                                         19.1                     22.8                     
 Centinela                                                                                                                                             18.4                     22.4                     
 Group weighted average                                                                                                                                18.7                     22.7                     
                                                                                                                                                                                                         
 Market average price                                                                                                                                  19.1                     23.8                     
 
 
Notes to the production and sales statistics 
 
(i)            The production and sales figures represent the actual amounts produced and sold, not the Group's share of
each mine.  The Group owns 60% of Los Pelambres, 70% of Centinela and 99.9% of Michilla (74.2% prior to March 2014). 
 
(ii)          Los Pelambres produces copper and molybdenum concentrates and Centinela produces copper concentrate and
copper cathodes. The figures for Los Pelambres and Centinela are expressed in terms of payable metal contained in
concentrate and in cathodes. Los Pelambres and Centinela are also credited for the gold and silver contained in the copper
concentrate sold. Michilla produce cathodes with no by-products. 
 
(iii)         Cash costs are a measure of the cost of operational production expressed in terms of cents per pound of
payable copper produced. Cash costs are stated net of by-product credits and include tolling charges for concentrates at
Los Pelambres and Centinela.  Cash costs exclude depreciation, financial income and expenses, hedging gains and losses,
exchange gains and losses and corporate tax for all four operations. 
 
(iv)          Realised copper prices are determined by comparing revenue from copper sales (grossing up for tolling charges
for concentrates) with sales volumes for each mine in the period. Realised molybdenum and gold prices are calculated on a
similar basis. Realised prices reflect gains and losses on commodity derivatives, which are included within revenue. 
 
(v)           The totals in the tables above may include some small apparent differences as the specific individual figures
have not been rounded. 
 
(vi)          The production information in Note 28(a) and the cash cost information in Note 28(b) is derived from the
Group's production report for the Q4 of 2014, published on January 28,2015. 
 
This information is provided by RNS
The company news service from the London Stock Exchange