Annual Report 2003 - Antofagasta plc

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Consolidated Balance SheetAt 31 December 20032003 2002Notes US$m US$mFixed assetsIntangible assets 10 90.6 –Tangible assets 11 1,863.2 1,830.3Other investments 13 0.4 187.41,954.2 2,017.7Current assetsStocks 14 60.5 57.5Debtors – amounts falling due after more than one year 15 29.0 4.8Debtors – amounts falling due within one year 15 166.7 125.9Current asset investments 18(a) 188.1 249.0Cash at bank and in hand 18(a) 7.6 3.4451.9 440.6Creditors – amounts falling due within one yearLoans 17 (166.7) (124.0)Trade and other creditors 16 (94.9) (87.5)Dividends payable 7 (47.3) (35.5)(308.9) (247.0)Net current assets 143.0 193.6Total assets less current liabilities 2,097.2 2,211.3Creditors – amounts falling due after more than one yearLoans 17 (690.8) (841.3)Provisions for liabilities and charges 19 (157.4) (95.3)1,249.0 1,274.7Capital and reservesCalled up share capitalPreference shares – non equity 20 3.5 3.2Ordinary shares – equity 20 17.5 15.8ANTOFAGASTA PLC Annual Report and Financial Statements 20035021.0 19.0Reserves – equityShare premium account 8 300.4 271.7Revaluation reserve 8 15.7 13.4Profit and loss account 8 568.8 656.3Shareholders’ funds (including non-equity interests) 21 905.9 960.4Minority interests – equity 343.1 314.3Approved by the Board and signed on its behalf on 6 May 2004.A A LuksicP J AdeaneDirectors1,249.0 1,274.7The notes on pages 53 to 87 form part of these financial statements.
Parent Company Balance SheetAt 31 December 20032003 2002Notes US$m US$mFixed assetsInvestments in subsidiaries 12 662.9 586.2Other investments 13 – 5.0662.9 591.2Current assetsDebtors – amounts falling due within one year 15 0.2 0.2Current asset investments 88.9 91.0Cash at bank and in hand 0.4 0.189.5 91.3Creditors – amounts falling due within one yearOther creditors (0.5) (0.4)Amounts owed to subsidiaries (299.9) (294.1)Dividends payable 7 (47.3) (35.5)(347.7) (330.0)Net current liabilities (258.2) (238.7)Total assets less current liabilities 404.7 352.5Capital and reservesCalled up share capitalPreference shares – non equity 20 3.5 3.2Ordinary shares – equity 20 17.5 15.821.0 19.0Reserves – equityShare premium account 8 300.4 271.7Profit and loss account 8 83.3 61.8Shareholders’ funds (including non-equity interests) 21 404.7 352.5Approved by the Board and signed on its behalf on 6 May 2004.A A LuksicDirectorsP J AdeaneThe notes on pages 53 to 87 form part of these financial statements.ANTOFAGASTA PLC Annual Report and Financial Statements 200351
Page 1 and 2: Copper 1 a malleable ductile reddis
Page 3 and 4: Highlights 2003Total copper product
Page 5 and 6: Selected Financial and Operating Da
Page 7 and 8: consumption and low interest rates
Page 9 and 10: y an amount equivalent to 16.3 cent
Page 11 and 12: Selected Data for Mining Operations
Page 13 and 14: Exploration Projects - 2004KEYMININ
Page 15 and 16: FCAB Rail NetworkKEY85-90 POUND RAI
Page 17 and 18: Demerger of Quiñenco S.A.Following
Page 19 and 20: Cash Costs and Realised Copper Pric
Page 21 and 22: In 2003, sales of copper concentrat
Page 23 and 24: The Group’s borrowings relate mai
Page 25 and 26: Acquisition of Water ConcessionIn N
Page 27 and 28: Balance SheetThe Group’s balance
Page 29 and 30: As explained in the Chairman’s Re
Page 31 and 32: The Group also commenced a process
Page 33 and 34: Mining Reserves and ResourcesAt 31
Page 35 and 36: DirectorsThe Directors who served d
Page 37 and 38: Special Business at the Annual Gene
Page 39 and 40: Corporate GovernanceThe Board of Di
Page 41 and 42: c) Relations with ShareholdersThe E
Page 43 and 44: Report on Remuneration and Related
Page 45 and 46: Between 8 March 2004 and 30 April 2
Page 47 and 48: In addition, the Group paid Jara de
Page 49 and 50: Basis of Audit OpinionWe conducted
Page 51: Consolidated Statement of Total Rec
Page 55 and 56: Notes to the Financial Statements1
Page 57 and 58: 1 Accounting Policies (continued)De
Page 59 and 60: 1 Accounting Policies (continued)s)
Page 61 and 62: 2 Segmental Information (continued)
Page 63 and 64: 2 Segmental Information (continued)
Page 65 and 66: 5 Directors’ Remuneration2003 200
Page 67 and 68: 7 Dividends 2003 2003 2002 2002cent
Page 69 and 70: 11 Tangible Fixed AssetsLand Buildi
Page 71 and 72: 12 Investment in Subsidiaries (cont
Page 73 and 74: 14 StocksGroup Group2003 2002US$m U
Page 75 and 76: 17 Loans (continued)b) (continued)U
Page 77 and 78: 18 Financial Instruments and Risk M
Page 79 and 80: 18 Financial Instruments and Risk M
Page 81 and 82: 20 Called Up Share Capital (continu
Page 83 and 84: 22 Notes to the Consolidated Cash F
Page 85 and 86: 23 Acquisition (continued)The asset
Page 87 and 88: 24 Demerger of Andsberg Limited (co
Page 89 and 90: 28 Ultimate Parent CompanyAt 31 Dec
Page 91 and 92: 2003 2002 2001 2000 1999Consolidate
Page 93 and 94: a) will expire 15 months after the
Page 95 and 96: f) Article 83 be amended by inserti
Page 97 and 98: A notice given under this Article 1
Page 99 and 100: Produced by Royle Financial Print L

Annual Report 2003 - Antofagasta plc

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