REG - Antofagasta PLC - ANTOFAGASTA ANNOUNCES INVESTMENT IN BUENAVENTURA

AntofagastaAnnouncement

15/12/2023 14:30

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RNS Number : 0308X  Antofagasta PLC  15 December 2023

 

 

ANTOFAGASTA ANNOUNCES INVESTMENT IN COMPAÑÍA DE MINAS BUENAVENTURA S.A.A.

 

Antofagasta plc ("Antofagasta") announces that through a wholly owned
subsidiary, it has entered into transactions in the secondary market to
acquire beneficial ownership of approximately 19% of the outstanding shares of
Compañía de Minas Buenaventura S.A.A. ("Buenaventura"). Buenaventura is
Peru's largest, publicly traded precious and base metals company and a major
holder of mining rights in Peru.

After Buenaventura was informed of Antofagasta's investment, the parties
entered into discussions to develop a framework of collaboration for the
benefit of Buenaventura and its stakeholders, including with respect to
strategic, operational and financial matters, including a proposal for
Antofagasta to be represented on the board of directors of Buenaventura.
Antofagasta looks forward to working with Buenaventura to provide
opportunities to deliver value to stakeholders for both companies.

Antofagasta's investment is in line with its strategy of prioritising
exploration and investment in the Americas. The investment has been funded
from internal funding sources.

Jean-Paul Luksic, Chairman of Antofagasta, said: "Our investment demonstrates
the significant potential we see in Buenaventura's asset portfolio. We are
excited by the prospect of working together with Buenaventura to realise that
potential, in a way that maximises value for Buenaventura and its stakeholders
and is consistent with responsible and sustainable operation and engagement
with communities, employees, customers, suppliers, regulators and other
stakeholders."

 

 Investors - London                                                     Media - London

 Rosario Orchard                                                        Carole Cable            antofagasta@brunswickgroup.com
 rorchard@antofagasta.co.uk (mailto:rorchard@antofagasta.co.uk)         (mailto:antofagasta@brunswickgroup.com)

 Robert Simmons                                                         Telephone               +44 20 7404 5959
 rsimmons@antofagasta.co.uk (mailto:rsimmons@antofagasta.co.uk)

 Telephone                            +44 20 7808 0988
                                                                        Media - Santiago

                                                                        Pablo Orozco           porozco@aminerals.cl
                                                                        (mailto:porozco@aminerals.cl)

                                                                        Carolina Pica           cpica@aminerals.cl
                                                                        (mailto:cpica@aminerals.cl)

                                                                        Telephone               +56 2 2798 7000

 

 

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Cautionary statement about forward-looking statements

This announcement contains certain forward-looking statements. All statements
other than historical facts are forward-looking statements. Examples of
forward-looking statements include those regarding the Group's strategy,
plans, objectives or future operating or financial performance, reserve and
resource estimates, commodity demand and trends in commodity prices, growth
opportunities, and any assumptions underlying or relating to any of the
foregoing. Words such as "intend", "aim", "project", "anticipate", "estimate",
"plan", "believe", "expect", "may", "should", "will", "continue" and similar
expressions identify forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors that are beyond the Group's control. Given these
risks, uncertainties and assumptions, actual results could differ materially
from any future results expressed or implied by these forward-looking
statements, which apply only as at the date of this report. Important factors
that could cause actual results to differ from those in the forward-looking
statements include: global economic conditions, demand, supply and prices for
copper and other long-term commodity price assumptions (as they materially
affect the timing and feasibility of future projects and developments), trends
in the copper mining industry and conditions of the international copper
markets, the effect of currency exchange rates on commodity prices and
operating costs, the availability and costs associated with mining inputs and
labour, operating or technical difficulties in connection with mining or
development activities, employee relations, litigation, and actions and
activities of governmental authorities, including changes in laws, regulations
or taxation. Except as required by applicable law, rule or regulation, the
Group does not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Past performance cannot be relied on as a guide to future performance.

 

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