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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Antofagasta Plc | LSE:ANTO | London | Ordinary Share | GB0000456144 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-14.00 | -0.62% | 2,250.00 | 2,243.00 | 2,245.00 | 2,259.00 | 2,222.00 | 2,247.00 | 1,446,694 | 16:35:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Copper Ores | 6.32B | 835.1M | 0.8471 | 26.50 | 22.13B |
TIDMANTO
RNS Number : 4682I
Antofagasta PLC
01 April 2020
NEWS RELEASE, 1 APRIL 2020
CENTINELA SIGNS RENEWABLE POWER CONTRACT:
ALL ANTOFAGASTA MINES TO BE POWERED BY RENEWABLE ENERGY BY 2022
Antofagasta plc (the "Company") announces that Centinela has signed a new Power Purchase Agreement ("PPA) with ENGIE Energía Chile S.A. ("ENGIE") effective from 2022 until 2033. Under the PPA 100% of the power supplied to Centinela will be from renewable sources.
As part of the transaction Centinela will cancel two existing PPAs, that expire in 2026 and 2027, and the Company will sell its indirect 40% interest in the Hornitos thermal power station to ENGIE, resulting in an attributable post-tax write down of approximately $43 million, which will be recognised in Antofagasta's half year financial results.
After the write down, this new renewable energy contract will be value accretive as power costs will be significantly reduced in stages from 2020 onwards.
Antofagasta's CEO, Iv á n Arriagada, commented: "With the completion of this agreement, from 2022 all our mining division's power will be from renewable sources and at a lower cost as well. This is an important step in achieving our target to reduce our carbon emissions by 300,000 tonnes by 2022."
Investors Media - London - London Andrew Lindsay alindsay@antofagasta.co.uk Carole Cable antofagasta@brunswickgroup.com Telephone +44 20 7808 0988 Telephone +44 20 7404 5959 Andres Vergara avergara@antofagasta.co.uk Will Medvei antofagasta@brunswickgroup.com Telephone +44 20 7808 0988 Telephone +44 20 7404 5959 Media - Santiago Pablo Orozco porozco@aminerals.cl Paola Raffo praffo.van@aminerals.cl Telephone +56 2 2798 7000 ---------------- --------------------------- ----------------- -------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
April 01, 2020 11:01 ET (15:01 GMT)
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