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Secondary Recommendation

Antofagasta - FTSE-100 copper producer enjoying windfall profits

October 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ANTO
  • Price:
  • 448p
The combination of a chronic lack of supply and insatiable demand from China has led to an unprecedented bull market in the price of copper, which at its peak in May had clocked a gain of more than 400% since the start of 2002. This story has even captured the imagination of the mainstream press, with articles being circulated which suggest that it would be worthwhile melting down 2p coins in order to sell the copper content. All this bodes extremely well for Chilean-based copper miner Antofagasta, which has been a terrific long-term investment, culminating in its promotion to the FTSE-100. Apart from owning a railway and a water concession in the arid northern part of Chile, the bulk of Antofagasta’s profits come from two ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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