Antofagasta Results Presentation Deck
1
Copper market
Carbon neutral world requires more metals
Source: CRU
kt
1,000
800
600
400
■
200 -
0
Jun
2018
Global economic and geopolitical uncertainty
China reopening
Low copper inventories
Inflationary pressures
Dec
2018
Short term outlook
Copper inventories and prices
Jun
2019
Dec
2019
Jun
2020
Inventories
Dec
2020
Jun
2021
Prices
Dec
2021
Jun
2022
Avg. 2022
$4.00/lb
Dec
2022
$/lb
5
4
3
2
1
■
■
Decarbonisation and clean energy targets are
supportive for copper demand increases
Urbanisation and electrification trends continue
Supply challenge - continued falling grades and
increasing ore hardness
Few new projects or major discoveries
Mt
Antofagasta plc | 2022 Full Year Results
8
6
4
2
0
Longer term outlook
Electric vehicles and renewables Cu demand 1
2020
2030
Electric Vehicles Renewables Grid (incremental)
2025
2035
ANTOFAGASTA PLC
2040
8View entire presentation