Antofagasta lowers dividend on Covid uncertainties

The board of Chilean copper producer Antofagasta has lowered its 2019 final dividend recommendation, citing uncertainty created by the Covid-19 crisis.

The London-listed company said on Tuesday that while its operations were not affected the quarantine measures in the Greater Santiago area of Chile, the increase in the number of new Covid-19 cases in the last week had created additional uncertainty.

“The evolution of the health emergency in Chile could result in an increased risk of an escalation in quarantine provisions which could restrict the company’s ability to move its workforce to and from its operations,” Antofagasta said in a statement.