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ANTOFAGASTA PLC Antofagasta plc CEO Iván Arriagada said : " We have seen strong copper demand and prices at multi - year highs over the first half of this year which has contributed to the robust financial performance of the Group , generating revenues of $ 3.6 billion and increasing EBITDA by 133 % to a record $ 2.4 billion and our EBITDA margin to 66 % . HALF YEARLY FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2021 Strong Financial Performance " The half year was not without challenges as we continued to manage our operations and projects under COVID - 19 conditions , although the resilience and agility of the Group has resulted in costs below guidance . COVID - 19 continues to impact our communities as well , which is why we have extended our community COVID Fund into 2021 , totalling now $ 12 million since the outbreak of the pandemic . " The weather in central Chile during H1 saw unprecedentedly dry conditions , with almost no rainfall . We have now had 12 years of drought , and the precipitation in 2021 has so far been less than in 2019 , which itself was one of the driest years on record . As a result , assuming there is only minimal precipitation during the rest of H2 , we are adjusting our full year copper production guidance to 710-740,000 tonnes as the winter rainy season is now coming to an end . However , we are maintaining net cost guidance at $ 1.25 / lb . ● Antofagasta plc NEWS RELEASE , 19 AUGUST 2021 " Following our strong performance in H1 , the Board has declared an interim dividend of 23.6 cents per share , in line with our normal pay - out ratio for interims of 35 % of net earnings . ● " Our key growth projects are on track and we remain focused on operating discipline and cost control , while producing copper responsibly and sustainably for all our stakeholders . " ● HIGHLIGHTS Safety Sadly , after 33 months without a fatality a contractor suffered a fatal accident at Los Pelambres in July . Our condolences go to the family of our colleague , and a full investigation is underway , following which actions identified during the review will be implemented under the direct oversight of senior management . Safety remains the Group's top priority Financial performance Revenue for the first half of 2021 was $ 3,591 million , 67.9 % higher than the same period in 2020 mainly as a result of higher realised copper prices , partially offset by a decrease in the volume of copper sales EBITDA ( ¹ ) was a record $ 2,357 million , 132.7 % higher than in the same period last year on higher revenue partially offset by higher operating costs due to the stronger Chilean peso , and higher energy and diesel prices EBITDA margin ( 2 ) was 65.6 % , compared to 47.4 % in H1 2020 and 53.4 % for the full year 2020 The Cost and Competitiveness Programme generated savings of $ 43 million in the first half of 2021 , equivalent to 5c / lb of unit cash costs 1 Profit before tax was $ 1,784 million , a $ 1,396 million increase on the same period in 2020 Strong balance sheet with net cash of $ 701 million at 30 June , an improvement of $ 783 million from the net debt position at the end of 2020. Cash flow from operations was $ 2,461 million compared with $ 907 million in the first half of 2020 Capital expenditure of $ 782 million was 49 % of full year guidance