Annual Report 2000 in PDF - Antofagasta plc

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Notes to the Financial Statements14 Other InvestmentsThe carrying value of other investments may be analysed as follows:US DollarsSterlingGroup Company Group CompanyUS$m US$m £m £m1 January 2000 185.8 5.4 108.3 2.8Disposals (0.3) (0.4) (0.1) (0.2)31 December 2000 185.5 5.0 108.2 2.6Other investments held by the Group are listed on recognised stock exchanges as follows:US DollarsSterlingGroup 2000 1999 2000 1999Cost US$m US$m £m £mListed – in UK 0.4 0.4 0.2 0.2Listed – overseas 185.1 185.1 108.0 107.9185.5 185.5 108.2 108.1Unlisted – 0.3 – 0.2185.5 185.8 108.2 108.3US DollarsSterlingGroup 2000 1999 2000 1999Market value US$m US$m £m £mListed – in UK 0.3 0.3 0.2 0.2Listed – overseas 256.6 411.7 172.2 255.7256.9 412.0 172.4 255.9ANTOFAGASTA PLC Annual Report 200058Other investments held by the Company at 31 December 2000 of US$5.0 million (£2.6 million) are all listed on recognisedoverseas stock exchanges with a market value of US$4.8 million (£3.2 million). Other investments held by the Companyat 31 December 1999 of US$5.4 million (£2.8 million) included US$5.0 million (£2.6 million) listed overseas with a marketvalue of US$5.8 million (£3.6 million) and US$0.4 million (£0.2 million) which was unlisted.Other investments held by the Group include 362.9 million shares in Quiñenco S.A., representing 33.61% of thatcompany’s issued share capital. Notwithstanding its substantial investment, the Group is not directly involved in theoperating and financial policies of and does not exercise significant influence over Quiñenco. The relationship betweenthe Group and Quiñenco is that both are under the common control of their majority shareholder. Quiñenco is listedon the Santiago Stock Exchange and in ADR form on the New York Stock Exchange. At 31 December 2000, its marketprice was US$6.94 per ADR (1999 – US$11.19), valuing the Group’s investment at US$251.5 million (£168.9 million;1999 – US$406.0 million; £252.1 million). Quiñenco’s loss for the financial year (after tax and minority interests) wasCh$5.6 billion (1999 – profit of Ch$160.3 billion) shareholders’ funds at 31 December 2000 amounted to Ch$637.0 billion(1999 – Ch$661.4 billion). Exchange rates between the US Dollar and Chilean Peso are given on page 42.
15 StocksUS DollarsSterling2000 1999 2000 1999Group US$m US$m £m £mRaw materials and consumables 20.7 16.4 13.9 10.2Work in progress 16.3 7.4 10.9 4.6Finished goods 4.6 8.6 3.0 5.341.6 32.4 27.8 20.116 DebtorsUS DollarsRestatedGroup Group Company Company2000 1999 2000 1999US$m US$m US$m US$mTrade debtors 74.7 18.0 – –Other debtors 34.0 58.1 0.2 1.3Overseas corporation tax repayable 1.4 5.4 – –110.1 81.5 0.2 1.3SterlingRestatedGroup Group Company Company2000 1999 2000 1999£m £m £m £mTrade debtors 50.0 11.2 – –Other debtors 22.7 36.1 0.1 0.8Overseas corporation tax repayable 1.0 3.3 – –73.7 50.6 0.1 0.8Debtors include amounts due after more than one year of US$6.5 million (£4.4 million; 1999 – US$2.3 million; 1.4 million).ANTOFAGASTA PLC Annual Report 200059
Page 1 and 2:
ANNUAL REPORT 2000
Page 3:
Directors and AdvisorsDirectorsA A
Page 8:
Chairman’s ReviewMININGMinera Los
Page 11 and 12: View of crushing facilitiesDome ove
Page 13: Harvesting cathodes from electrowin
Page 16 and 17: Chairman’s ReviewTRANSPORT ANDREA
Page 18 and 19: Chairman’s ReviewANTOFAGASTA PLC
Page 20 and 21: Financial ReviewBasis of Financial
Page 22 and 23: Financial ReviewIncome from Other F
Page 24 and 25: Financial ReviewCash Flows and Fina
Page 26 and 27: Production StatisticsFor the year e
Page 28 and 29: Report of the DirectorsThe Director
Page 30 and 31: Report of the DirectorsSpecial Busi
Page 32 and 33: Corporate GovernanceGiven its small
Page 34 and 35: Report on Remuneration and Related
Page 36 and 37: Auditors’ Report to the Members o
Page 38 and 39: Consolidated Profit and Loss Accoun
Page 40 and 41: Consolidated Statement of Total Rec
Page 42 and 43: Parent Company Balance SheetAt 31 D
Page 44 and 45: Notes to the Financial Statements1
Page 78 and 79: Five Year Summary - US DollarsConso
Page 80 and 81: Notice of MeetingAntofagasta plcNot
Page 82: Designed by RDA. Printed by Royle F
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Annual Report 2000 in PDF - Antofagasta plc

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