Company has three business divisions: Mining, Transport and Water, being the first of them the most important. Antofagasta plc is one of the largest international copper producing companies in the industry. Its activities are mainly concentrated in Chile where it owns and operates three copper mines, Los Pelambres, El Tesoro and Michilla, with a total production of 498 thousand tonnes in 2004, at an average cash cost of 24.4 c/lb. The Groups mining division, Antofagasta Minerals, is also actively involved in exploration particularly in Chile and Peru. The transport division operates an extensive rail network servicing the important mining region of northern Chile, which is centred on the port of Antofagasta. The water division operates a concession for the distribution of water in this region.

SALES PER ACTIVITY (Data as of 31/12/2005)

Copper mining: 94%
Rail transport:   4%
Water:             2%

Fez copied a post from some strange source who stated there were only 3 days of copper stockpiled throughout the world ..... and CHP will 100p tomorrow too! ...... For sure miners have taken an absolute hammering over the last month, and now may be good buying opportunity ...... However, just because sp is much cheaper than it was doe not, per se, make the stock cheap ...... For myself, I am far from convinced that the indices are back on a sustainable upward track, so be careful and nimble.

good point cynic. lots of differering pinions at the moment with up and down market. everyone seems to have a different view but to me ANTO is cheap because it has dropped more than other miners recently whilst fundamentals remain rock solid.

cynic: have put in source of my earlier article (see post 6) - it was the Daily Telegraph.

sorry; so you did ..... but still reckon it's codswallop ..... but as i said befoe, that does not mean FAGS are not now good value, or similarly KAZ and the like .... just tread very carefully

Antofagasta PLC
19 June 2006

Antofagasta plc

4 for 1 Bonus Issue of Ordinary Shares

London, 19 June 2006

Following shareholder approval at the Annual General Meeting and Class Meetings
on 14 June 2006, Antofagasta plc (the 'Company') confirms that it has issued, by
way of a bonus issue, four new ordinary shares of 5p each for every one ordinary
share held by shareholders of the Company at the close of business on Friday 16
June 2006. Each new ordinary share will carry the same rights as an existing
ordinary share. Following this issue, the Company has 985,856,695 ordinary
shares in issue.

As no similar bonus issue has taken place in respect of the 5% cumulative
preference shares in the capital of the Company, the rights of each preference
share have been amended so that each preference share now carries 100 votes on a
poll at any general meeting of the Company. This amendment maintains the voting
rights of each preference share as a proportion of the total votes entitled to
be exercised at a general meeting.

After the bonus issue ANTO is now comparatively nearly 4% higher than when it closed Friday night.

Thanks Fez ..... couldn't work out the maths! ..... nevertheless, "tread carefully" stiull applies not withstanding that FTSE has opened firmly and Dow is also looking good - so far

Harry .... please read dai's up-dated and comprehensive review of of copper and other metal prices

remember the old saying "PRICE HAS MEMORY"

never heard that one!

Cheers cynic. Talk about volatility!! "up and down like a yo-yo" doesn't even begin to tell the tale!!! Need to tread very carefully until things settle down.

so a couple of weeks has now passed and normality has returned to the markets, at least for the time being ..... with commodities now back on upward track, I contemplated which mining stock to lose money on and, with some reluctance, rejected POG (Hambro) as a really good gold play and have plumped for ANTO in preference to KAZ

Posted chart post share consolidation.Trading bottom of range.Buy recommendations today with target price 470p.Strong demand for copper isn't going away.Growth India and China.Every new home needs copper.

Watch for breakout when it comes above 400p.Several attempt today.

Mining sector up in early morning trade.ANTO
threatening breakout above 400p.

You may be looking at graph in opening post with horror.Don't big drop all down to share consolidation! Reason one month graph posted at 21.

No better time to get in than the present,all the better at 400p or less.Breakout is imminent and currently trading 400p-402p.

Demand for copper worldwide is not going away making anto good growth share and pays a dividend.

Miners back in vogue.Timely post and chart at 21.Breakout above 400p happened today! Roll on 420p-430p.......................broker target price 470p.

The Questor column - Edited by Dominic White - (Filed: 30/08/2006)

Chilean miner shows sparkling results as it basks in reflected glory of copper price


At first glance, the investment case for Chilean copper miner Antofagasta makes for compelling reading.

The single biggest catalyst for the company's soaraway share price is the red-hot global market for copper.

Citigroup calculates that 80pc of sales made by 'Fags' are directly linked to the price of copper, which has risen exponentially on the back of insatiable Chinese demand and supply constraints.

Copper prices have remained strong throughout 2006, starting at around $2 per pound in January and peaking at just under $4 in mid-May.

Fags is confident that the price of copper is well supported. It points to increased demand for commodities as an investment alternative by institutional investors. It also notes that inventories of the metal represent less than two weeks' worth of world consumption.

Meanwhile, industrial disruption at Chile's largest copper mine, the Escondida facility run by BHP Billiton, has added further weight to the investment case.

High copper prices translate into bumper free cash-flows, which in turn lead to higher dividends. The surprise interim special payout could herald more to come if the price of the metal remains where it is. Merrill Lynch expects another special divi to follow at the end of the year.

However, Fags' sparkling interim results only beat analysts' expectations because the number-crunchers underestimated the benefits of its policy of "provisional pricing" - whereby sales from a certain metal can be inflated during periods of rising spot prices.

When the price of copper levels off, the benefit Antofagasta enjoys from selling on the futures market will cease; should the copper price start falling, the effect will turn negative.

While fundamentally well supported, there is always the potential for a drop in the copper price, which has already come off 15pc since its May high. Similarly, the Escondida strike will not last for ever.

However, with the chance of more special payouts, the shares are worth holding on to.

despite Citicorp now switching its focus to KAZ, it maintains its price target of 600 for ANTO, which i happen to hold already ...... ANTO is undeniably a quality company with consistent strong performance.

Chart show steadil;y rising 50 and 200 dma and an undemanding rsi

decided to bank my fairly modest profit this afternoon on the basis that i see no harm in taking some money off the table and there was a also a downgrade the other day ...... i still think this is a really good company with much going for it, so will keep on my watch list with a view to buying if/when sp falls tp rising 25 dma

ANTO is still a sell at 495p despite at its current bottom 'cos it is going down even further.