Copper production from Antofagasta PLC (LON:ANTO) hit a new record of 770,000 tonnes in the year to 31 December 2019.
Revenue came in at US$4.97bn, up 4.9%, reflecting an increase in copper and gold sales that was partially offset by the decrease in the realised copper price.
Net debt fell to US$563mln, down 5.5%, and the final dividend was set at US$0.234 per share.
"While Antofagasta emerges from 2019 with a record copper production and safety performance, a strong balance sheet and low cash costs resulting in EBITDA increasing by 9.5% to US$2.4bn, 2020 has begun with an unprecedented global challenge in the form of COVID-19,” said the FTSE 100-listed firm's chief executive Iván Arriagada.
“We are taking every measure possible to keep our colleagues safe and healthy, and our operations have not yet been impacted by the virus. The strength of our balance sheet, the flexibility of our cash flow due to our cost and competitiveness programme and our strong safety and health culture means that the business is extremely robust in this challenging macro environment.”