Antofagasta plc (ANFGF) - Grey Market
  • Tue, Mar. 15, 4:49 AM
    • Antofagasta (OTCPK:ANFGY) -8.8% in London after the Chilean miner's full year pretax profit fell 83% to $259M and cancelled its final dividend.
    • Anglo American (OTCPK:AAUKY) is also down well over 8% in the wake of news that CEO Mark Cutifani took a cut on his bonus due to a tough year for the company.
    • Meanwhile, BHP Billiton (NYSE:BHP) was downgraded by Macquarie overnight to Underperform from Neutral. BHP -5.6% premarket.
    | Tue, Mar. 15, 4:49 AM | 3 Comments
  • Sep. 22, 2015, 9:07 AM
    • Mining shares are leading a big slide in European equities as metals prices tumble on fears that an economic slowdown in China, the world’s biggest consumer of raw materials, is deepening.
    • Glencore (OTCPK:GLCNF, OTCPK:GLNCY) fell to a new intraday low of 107 pence/share, down more than 9% for the worst performance on the U.K.’s FTSE 100 index; Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), ArcelorMittal (NYSE:MT) and Antofagasta (OTC:ANFGF) each fall more than 6%, while BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO) rank among the 10 biggest decliners, down ~4.3% each.
    • Credit Suisse cuts its earnings estimates across the mining sector, saying “Until China demand and emerging market currencies find a floor, it will remain challenging to put an absolute floor on commodity prices."
    • The firm cuts its stock price targets for diversified miners including BHP, which also says it is planning to sell hybrid securities to help refinance near-term liabilities.
    • Moody's says miners likely will be the hardest hit of any sector in Europe, the Middle East and Africa as a result of China’s economic slowdown.
    • Also: FCX -4.5%, VALE -4.1%, X -2.8%, AA -1.7% premarket.
    | Sep. 22, 2015, 9:07 AM | 13 Comments
  • Mar. 30, 2015, 4:33 PM
    • Teck Resources (NYSE:TCK) -7.3% AH after saying it is not in any type of deal discussions with Antofagasta (OTC:ANFGF), and there are no other corporate developments that justify any significant movement in its share price.
    • TCK was responding to earlier reports that the two companies were exploring a potential merger that would create one of the world's largest copper miners.
    | Mar. 30, 2015, 4:33 PM | 3 Comments
  • Mar. 30, 2015, 3:49 PM
    • Teck Resources (TCK +10.9%) and Antofagasta (OTC:ANFGF +4.1%) are exploring a merger that would create one of the world’s largest copper producers, Bloomberg reports.
    • The mining companies reportedly have held early-stage talks, and any agreement is said to hinge on the approval of the families that control each company.
    • With a market value of ~C$11.3B, TCK is Canada’s third-largest mining group and London-listed Antofagasta has a market value of ~£7.3B ($10.8B), so a purchase of either company would be one of the mining industry’s largest deals over the past five years.
    | Mar. 30, 2015, 3:49 PM | 3 Comments
  • Jan. 14, 2015, 7:57 AM
    | Jan. 14, 2015, 7:57 AM | 6 Comments
Company Description
Antofagasta plc owns and operates copper mines in Chile and conducts exploration activities in Chile and Peru. The group also operates a rail network servicing the mining region of northern Chile, as well as operates a concession for the distribution of water in this region.
Industry: Industrial Metals & Minerals
Country: United Kingdom