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Chilean miner Antofagasta says it is close to pay deal after profit jump

RIO DE JANEIRO, BRAZIL - Chilean miner Antofagasta expects to reach a pay deal with its workers this month, it said on Tuesday after posting a 12.3% jump in annual profit on high copper and gold prices while its mines performed well despite pandemic-related disruption.

The London-listed miner also declared an increased full-year dividend but remained circumspect on future payouts.

“We are going to maintain discipline on the capital allocation,” finance chief Mauricio Ortiz told Reuters.

He highlighted that Antofagasta’s growth projects were fully funded and debt was down to US$82 million from US$563 . . .

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