About Antofagasta

Antofagasta plc engages in the mining and exploration activities in Chile. The company is a subsidiary of Metalinvest Establishment. The company’s core mining business consists of four assets, such as Los Pelambres (Minera Los Pelambres S.A., a 60%-owned subsidiary of the company), Centinela (Minera Centinela S.A., a 70%-owned subsidiary of the company), Antucoya (Minera Antucoya S.A., a 70%-owned subsidiary of the company), and Zaldívar (Compañía Minera Zaldívar SpA), a joint venture with Barrick Gold Corporation operated by the company. These mines produce copper cathodes, copper concentrates and various by-products. In addition to mining, the company has a transport division that provides rail and road cargo services in northern Chile primarily to mining customers, including to its own operations. The company has interests in other deposits located in the Antofagasta Region of Chile, some of them containing gold and/or molybdenum. Segments The company operates through Los Pelambres, Centinela, Antucoya, Zaldívar, Exploration and Evaluation, and Railway and Other Transport Services segments. For management purposes, the company is organized into two business divisions based on their products, Mining and Railway and Other Transport Services. Los Pelambres For 2016, the mineral resource model has been updated with 28 drill holes for a total of 6,264 metres. Centinela (Concentrates and Cathodes) Centinela consists of Centinela Concentrates (Esperanza + Esperanza Sur, primarily sulphide porphyry deposits) and Centinela Cathodes (Tesoro Central, an oxide deposit + the oxide portion of the Mirador deposit) operations. The Centinela Cathodes ore reserves are made up of 80.7 million tonnes at 0.60% copper of heap leach ore and 109.2 million tonnes at 0.28% copper of ROM ore. Encuentro Encuentro is 100% owned by the company. The oxide portion of the porphyry copper deposit is part of the Encuentro Oxides project in construction and would feed into the Centinela Cathodes operation. Mirador Mirador is 100% owned by the company. A portion of Mirador Oxides is subject to an agreement between the company and Centinela, whereby Centinela purchased the rights to mine the oxide ore reserves within an identified area. For 2016 the resource model has been updated with 122 drill holes for a total of 20,002 metres. Llano The Llano deposit is covered by AMSA (Antofagasta Minerals S.A., a wholly owned subsidiary of the company) and Centinela mining tenements shared in different proportions, with the company owning 71.1% of the resource. Paleocanal The Paleocanal deposit is covered by AMSA and Centinela mining tenements shared in different proportions, with the company owning 90.2% of the resource. Polo Sur Polo Sur is 100% owned by the company. Penacho Blanco Penacho Blanco is 51% owned by the company. Antucoya Antucoya is 70% owned by the company. Los Volcanes Los Volcanes is 51% owned by the company. History Antofagasta plc was incorporated in 1888.