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February 10, 2016 3:07 AM ET

Metals and Mining

Company Overview of Minera Michilla S.A.

Company Overview

Minera Michilla S.A. engages in the exploration, extraction, exploitation, production, ore reduction, and sale of ore, concentrates, precipitates, copper or non-ferrous metal cathodes and bars, and their products and sub products. It is also involved in the exploitation of mining properties, including all mining industry phases. The company was incorporated in 1959 and is based in Mejillones, Chile. Minera Michilla S.A. is a subsidiary of Antofagasta plc.

II Region

Road to Tocopilla Km.110



Founded in 1959

Key Executives for Minera Michilla S.A.

Minera Michilla S.A. does not have any Key Executives recorded.

Minera Michilla S.A. Key Developments

Michilla Announces Earnings and Production Results for the Year Ended December 31, 2014; Provides Production Guidance for 2015

Michilla announced earnings and production results for the year ended December 31, 2014. The company had an operating loss of $29.0 million in 2014, compared to an operating loss of $43.1 million in 2013. 2014 was the last full year of production at Michilla with the mine closing at the end of 2015. Capital expenditure for the year was $11.1 million in 2014 compared with $17.2 million in 2013. Total production in 2014 was 47,000 tonnes of copper cathodes, an increase of 22.7% on the 2013 production of 38,300 tonnes as a result of mining higher-grade areas of the Lince pit. Cathode production in 2015 is forecast to be approximately 30,000 tonnes.

Michilla Reports Production Results for the Fourth Quarter and Full Year Ended December 31, 2014

Michilla reported production results for the fourth quarter and full year ended December 31, 2014. For the fourth quarter, the company reported Copper production of 12,900 tonnes, 18.3% higher than in the previous quarter largely as a result of higher throughput and grades. For the year, the company reported production was 47,000 tonnes, 22.7% higher than in 2013 as a result of mining higher grade areas of the Lince pit.

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