Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
Chilean miner Antofagasta reported on Tuesday a rise of 5% in 2023 profit as copper production and prices increased, offsetting higher costs.
The group reported earnings before interest, tax, depreciation and amortization (EBITDA) of $3.1 billion, up from $2.9 billion in 2022.
However, it slashed the full-year dividend to shareholders to 36 cents a share, compared to 59.7 cents last year.
Antofagasta made a record shareholder payout of 142.5 cents a share in 2021, amounting to $1.4 billion, when surging copper prices helped it post its highest profit ever.
The Chilean miner also reported an increase of 13% in capital expenditure to $2.13 billion last year due to expansion of its Los Pelambres flagship mine.
It expects the figure to stand at $2.7 billion in 2024, as it starts work on its Centinela concentrator.
Earlier Antofagasta reported a rise of 2% in 2023 copper production, to 660,600 metric tons, boosted by higher output at Los Pelambres and left guidance unchanged at between 670,000 tons and 710,000 tons for 2024.
(By Clara Denina; Editing by Jason Neely and Clarence Fernandez)
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