LONDON, March 14 Chilean copper miner
Antofagasta on Tuesday reported a surge in full-year
earnings on lower costs and better prices, saying it expected
commodity prices to improve further this year.
Its 2016 earnings before interest, tax, depreciation and
amortisation (EBITDA) jumped 78.7 percent to $1.63 billion, the
company said in a statement.
Antofagasta raised its annual dividend to 18.4 cents from
its 2015 payout of 3.1 cents and topped the company's minimum
payout of 35 percent of underlying net earnings per share.
"In the medium term the Group expects to see a steady shift
from a market in balance to a slight deficit, leading to a
further improvement in prices," it said.
"There are wild cards of course, but these are more likely
to be positive for the copper price than negative."
(Reporting by Zandi Shabalala; editing by Jason Neely)