Chilean miner Antofagasta Plc declared a final dividend of 40.6 U.S. cents per share for a total dividend of 50.9 cents per share for 2017, a 176.6% increase over the previous year.
Profit attributable to shareholders surged to US$750.6 million in the year, from US$158.0 million a year ago, on the back of an improved copper market and cost management by the company.
Revenue jumped to US$4.75 billion, compared to US$3.62 billion in 2016, according to a March 13 release.
Sales climbed 1.5% for copper to 709,000 tonnes and 33.3% for molybdenum to 9,600 tonnes, offset by a 19.6% drop in gold sales to 218,200 ounces.
The London Metal Exchange copper price for the year averaged US$2.80 per pound, 27% higher compared to 2016.
EBITDA increased 59.1% to US$2.59 billion, and operating cash flow increased 71.2% to US$2.5 billion on the back of stronger margins and higher sales.
Capital expenditure totaled US$899.0 million, a planned 13.1% increase over 2016, due to the increased capitalized stripping costs at the Centinela and Antucoya mines in Chile and higher sustaining CapEx.
This year, the company expects to produce 705,000 to 740,000 tonnes of copper, 190,000 to 210,000 ounces of gold, and 11,500 to 12,500 tonnes of molybdenum.
