|Bid||875.40 x 0|
|Ask||875.80 x 0|
|Day's range||866.00 - 884.40|
|52-week range||713.20 - 1,026.00|
|Beta (3Y monthly)||1.26|
|PE ratio (TTM)||13.21|
|Earnings date||22 Aug 2019|
|Forward dividend & yield||0.37 (4.27%)|
|1y target est||11.28|
Chile's Antofagasta , one of the world's largest copper producers, has requested government mediation to resolve a contractual dispute with supervisors at its flagship Los Pelambres mine, the supervisors´ union said on Monday. The workers voted by a majority to go on strike after rejecting a salary adjustment offer from the company and amid opposition to a flexible working hours plan. If you want to have people working 24/7, you have to pay overtime accordingly," Felipe Franco, head of the union of 271 members, told Reuters.
Chile's Antofagasta , one of the world's top copper miners, negotiated on Thursday with workers in hopes of staving off a strike at its small Antucoya deposit in northern Chile, though union leaders said there had been little progress in discussions. The government-mediated negotiations follow the union's decision to reject Antofagasta Plc's final contract offer, raising the specter of a strike.
Chilean copper miner Antofagasta (LSE: ANTO) and shipping broker Clarkson (LSE: CKN) both cater to the global market, but are they equally at risk from the US-China trade war?
The FTSE 100 fell 0.3% with financials and mining stocks dragging the most, while the FTSE 250 midcaps index shed 0.6%. The banking index lost nearly 1%, tracking a fall in British bond yields, after weaker-than-expected German data showed the private sector contracting for the first time in more than six years.
Harvey Jones praises Russian mining operation Polymetal International plc (LON: POLY), which joins the FTSE 100 (INDEXFTSE:UKX) in today's reshuffle.
Chilean miner Antofagasta Plc delivered slightly better than expected half-year profit as it reined in costs to cope with lower copper prices, which have been hit by softer Chinese demand and the drawn-out Sino-U.S. trade dispute. The copper producer posted core earnings of $1.31 billion, up 44% on the year and just beating analysts' average forecast of $1.29 billion as costs came in slightly lower than expected. The company said it was striving to offset the impact of lower copper prices, which have fallen 4% this year.
The FTSE 100 (INDEXFTSE: UKX) is down this month, but these stocks should provide a reliable income, whatever happens, says Roland Head.
Glencore has started a new copper concentrates blending facility in Taiwan to mix clean material with ores containing high levels of arsenic, three sources familiar with the matter said. The blending of concentrates containing high levels of impurities such as hazardous arsenic is aimed at making the material fit for shipment to China, the world's biggest importer of copper concentrates. China's legal import limit is arsenic under 0.5% in copper concentrates.
The FTSE 100 company reduced its annual forecast for net cash cost, a measure of cost of production per pound of copper produced, to $1.25 per pound as it expects to benefit from a weaker Chilean peso and higher by-product prices. Antofagasta, which is majority-owned by Chile's Luksic family, primarily mines copper with by-products of gold, molybdenum and silver. The company said copper production for the quarter was 198,600 tonnes compared with 163,200 tonnes, a year earlier and maintained its full-year copper production forecast of 750-790,000 tonnes.
China's copper smelters have just slashed their minimum charges for converting concentrates into refined metal. The 10-member China Smelters Purchase Team (CSPT) has set treatment and refining charges at $55.00 per tonne and 5.5 cents per lb respectively for third-quarter deliveries. Tumbling treatment charges reflect a tightening market for copper raw material.
London's FTSE 100 clawed back some ground on Monday, ending its longest losing streak in three-and-a-half years as Chinese data eased investor concerns over a global growth slowdown. After seven sessions of losses, the FTSE 100 rose 0.3%, with miner Antofagasta surging after a favourable arbitration verdict. The data from China showed industrial output and retail sales comfortably topping forecasts, but economic growth slowed to its weakest pace in at least 27 years.
Pakistan said on Sunday it welcomed a statement by Tethyan Copper expressing willingness for a negotiated settlement after a World Bank tribunal ordered the government to pay $5.8 billion in damages in a dispute over the Reko Diq copper mine. The statement from the attorney general's office came after a World Bank arbitration court ruled in favour of Tethyan Copper, a joint venture between Chile's Antofagasta Plc and Canada's Barrick Gold, in a dispute over a lease to the mine, located in a remote area of southwestern Pakistan. The government said it was disappointed by the ruling but had taken note of a statement from Tethyan Copper's chairman expressing willingness to seek a negotiated settlement.
Chilean copper miner Antofagasta Plc said on Tuesday it would ask regulators for more time to answer questions about an environmental impact study for its Zaldivar mine, which draws water from Chile's lithium-rich Atacama salt flat. Chilean regulators last year delayed their review of Zaldivar's environmental study amid rising concerns over dwindling water supplies at Atacama. The Atacama salt flat is home to lithium miners SQM and Albemarle Corp, which together produce one-third of the world's supply of the ultralight battery metal.
Mining stocks led London's main index higher on Tuesday after Beijing took steps to increase local government spending and boost China's economy, while fashion retailer Ted Baker slumped after a profit warning. Rio Tinto, Antofagasta, Glencore and BHP were 2.5-3% higher, while oil majors BP and Shell were lifted by a rise in crude oil prices on expectations that OPEC and its allies will keep withholding supply. Troubles on Britain's high street were reflected on the small- and mid-cap indexes, with Ted Baker falling nearly one-third to a 6-1/2 year low after warning profits would come in well below analysts' expectations, and fast-fashion retailer Quiz down 23.2% after reporting a 94% slump in underlying pretax profit.
In December 2018, Antofagasta plc (LON:ANTO) announced its most recent earnings update, which signalled that the...
By Muvija M and Shashwat Awasthi (Reuters) - UK blue-chip stocks rose slightly on Friday, recouping the session's losses as mining stocks gave investors something to cheer about at the end of a largely ...