Antofagasta (GB:ANTO) has released an update.
Antofagasta PLC has successfully completed a deal to transfer water supply infrastructure assets from its Minera Centinela division to an international consortium, garnering $600 million in cash proceeds. This strategic move will reduce the capital costs of the Centinela Second Concentrator Project by approximately $380 million and is expected to enhance the project’s competitiveness through increased capacity and the use of modern, sustainable technologies. The project, set to commence copper production in 2027, underscores Antofagasta’s commitment to responsible copper production using renewable energy and raw seawater.
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