Annual Report 2000 in PDF - Antofagasta plc

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Notes to the Financial Statements17 Trade and Other CreditorsUS DollarsSterlingRestatedRestatedGroup Group Group Group2000 1999 2000 1999Amounts falling due within one year US$m US$m £m £mTrade creditors 43.5 5.2 29.1 3.2Other creditors 43.6 72.2 29.2 45.087.1 77.4 58.3 48.2US DollarsSterlingGroup Group Group Group2000 1999 2000 1999Amounts falling due after more than one year US$m US$m £m £mOther creditors 28.5 – 19.1 –Other creditors falling due after more than one year include US$28.0 million (£18.7 million) relating to the purchase ofa power line at Los Pelambres. Payment is due in monthly instalments over 8 years at a fixed rate of interest of 8%.18 LoansUS DollarsFloating Fixed Interest Total Totalrate rate free 2000 1999Currency US$m US$m US$m US$m US$ma) Los PelambresLoans US$ 878.7 – – 878.7 902.8Subordinated debt US$ – – – – 34.7ANTOFAGASTA PLC Annual Report 2000b) El TesoroLoans US$ 149.5 – – 149.5 25.2Subordinated debt US$ 36.2 – – 36.2 94.9Finance leases US$ 0.4 14.6 – 15.0 –c) MichillaFinance leases US$ 1.0 1.1 – 2.1 1.2Loans US$ 0.1 – – 0.1 0.2d) FCAB RailwayLoans US$ 4.6 1.6 4.5 10.7 12.1e) Andino RailwayLoans DM – 3.4 – 3.4 –601,070.5 20.7 4.5 1,095.7 1,071.1
18 Loans (continued)SterlingFloating Fixed Interest Total Totalrate rate free 2000 1999Currency £m £m £m £m £ma) Los PelambresLoans US$ 588.2 – – 588.2 560.7Subordinated debt US$ – – – – 21.5b) El TesoroLoans US$ 100.0 – – 100.0 15.7Subordinated debt US$ 24.2 – – 24.2 58.9Finance leases US$ 0.3 9.8 – 10.1 –c) MichillaFinance leases US$ 0.7 0.7 – 1.4 0.7Loans US$ 0.1 – – 0.1 0.1d) FCAB RailwayLoans US$ 3.1 1.1 3.0 7.2 7.5e) Andino RailwayLoans DM – 2.3 – 2.3 –716.6 13.9 3.0 733.5 665.1The total loans in 1999 of US$1,071.1 million (£665.1 million) comprised floating rate loans of US$784.0 million (£487.0million), fixed rate loans of US$270.3 million (£167.7 million) and interest free loans of US$16.8 million (£10.4 million).a) Loans are secured on the assets of Los Pelambres. These borrowings are repayable over 9 to 11 years and carryinterest at the Libor six month rate plus approximately 1%. Minority shareholder funding to Los Pelambres byway of subordinated debt of US$34.7 million on which interest of Libor plus 3% was payable was repaid on27 December 2000. Funding provided by the Group by way of subordinated debt to Los Pelambres (which iseliminated on consolidation) was also repaid on the same date.b) Loans are secured on the assets of El Tesoro and are guaranteed by Minera Michilla S.A., a subsidiary ofAntofagasta plc. These borrowings are repayable over 8 years after the project achieves completion and carryinterest at the Libor six month rate plus approximately 2.5%.Subordinated debt represents funding by minority shareholders and includes US$36.2 million (£24.2 million) onwhich an interest rate of Libor plus 3.25% is payable. Amounts are repayable during the two years followingcompletion of the project. Funding provided by the Group by way of subordinated debt to El Tesoro has beeneliminated on consolidation.Finance leases of US$14.6 million (£9.8 million) have a fixed interest rate of 9% and are repayable over 11 yearsand other finance leases of US$0.4 million (£0.3 million) have a variable interest rate of the Libor 3 month rateplus 6.6% and are repayable over five years.ANTOFAGASTA PLC Annual Report 200061
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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