Antofagasta PLC

Infobox Company
company_name = Antofagasta plc
company_
company_type = Public (lse|ANTO)
foundation = 1888
location =London, England, UK
key_people = J-P Luksic, Chairman
industry = Mining
products = Copper
revenue = US$3,827 million (2007)
operating_income =US$2,655 million (2007)
net_income = US$2,112 million (2007)
num_employees = 3,139 (2006)
parent =
subsid = | homepage = http://www.antofagasta.co.uk
footnotes =
intl = yes

Antofagasta PLC (lse|ANTO) is a Chilean business that operates in various sectors of the economy. It is one of the most important conglomerates of Chile with equity participation in "Antofagasta Minerals", the railroad from Antofagasta to Bolivia, "Aguas Antofagasta" in Chile, "Tethian" in Australia and other investments in different parts from the world. It is a constituent of the FTSE 100 Index.

History

The group began life as "Ferrocarril Antofagasta a Bolivia", a business that changed ownership in 1888 and whose shares then became listed on the London Stock Exchange. Antofagasta is the name of a port on the north pacific coast of Chile.

In 1980, a majority the shares was acquired by the Grupo Luksic. In 1982, the assets of the enlarged group were combined and in 1999 the business was re-named "Antofagasta PLC". The new company decided to continue with the existing business activities and make other investments in Chile.

During the 1980s, Antofagasta diversified into other areas such as mining in Michilla, in which it invested in 1983, and mining in the Pelambres, in which it invested in 1986, in addition to telecommunications.

In 1996, Antofagasta transferred its banking activities and its industrial interests to Quiñenco S.A., another diversified Chilean company also controlled by the Luksic family. [ [http://www.hks.harvard.edu/luksic/luksic.html The Lusic fellowship for Croatia] ] The fusion of those interests allowed Antofagasta to concentrate on the development of the Pelambres and the Tesoro mines and establish itself as a low cost copper producer.

Operations

Today, Antofagasta is one of the major international copper producers with its activities concentrated mainly in Chile where it now operates three copper mines: Pelambres, Tesoro and Michilla.

Antofagasta Minerals, is also active in mineral exploration in Chile and Peru. In addition, the group runs an extensive railway network in north of Chile, centered in the port of Antofagasta. It also operates a concession for the distribution of the water in this region.

Ownership

The company is still 65% owned by the Chilean Luksic family. [ [http://www.guardian.co.uk/business/2005/sep/14/1 Antofagasta rides the copper frenzy though price falls are on the horizon] ]

References

External links

* [http://www.antofagasta.co.uk official Web site of Antofagasta PLC] .
* [http://www.pelambres.cl Pelambres mine] .
* [http://www.michilla.cl Michilla mine] .
* [http://www.tesoro.cl Tesoro mine] .
* [http://www.fcab.cl Antofagasta - Bolivia Railroad] .
* [http://www.aguasantofagasta.cl Antofagasta Water Company] .
* [http://www.aminerals.cl Antofagasta Minerals] .