RNS Number : 8880O

Antofagasta PLC

15 June 2022



Following the announcement on 7 June concerning a leak in the concentrate pipeline at Los Pelambres, the restrictions to access have now been partially eased. As a result, repairs to the pipeline have commenced, however some access restrictions remain that will prolong the time required to complete the scheduled work. Engagement with the authorities and communities continues, with the aim of removing these remaining road access restrictions. Given the outstanding repair work and the testing required for a safe restart, which includes working with the relevant local regulator, it is expected that the operation of the pipeline will be resumed by the end of June.

During the shutdown the processing plant has been operating at lower rates of throughput, with concentrates being stockpiled at the plant. These will be transferred to the port between July and October using the spare capacity of the pipeline.

As of the date of this release, full year copper production for the Group is expected to be at the bottom end of the original 660 - 690,000 tonnes guidance range. A further update on the impact of the leak will be provided in the Company's 2Q Production Report on 20 July.

Total expenditure to repair the pipeline and bring it back to normal operations is not expected to be material.

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 
Rosario Orchard   rorchard@antofagasta.co.uk 
Telephone         +44 20 7808 0988            Media - Santiago 
                                              Pablo Orozco      porozco@aminerals.cl 
                                              Carolina Pica     cpica@aminerals.cl 
                                              Telephone         +56 2 2798 7000 

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(END) Dow Jones Newswires

June 15, 2022 02:00 ET (06:00 GMT)

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