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  "documentTitle": "Antofagasta | Results Presentation Deck | 35 slides",
  "authorId": "antofagasta",
  "authorName": "Antofagasta",
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  "presentationDate": "2025-02-01 00:00:00",
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      "kind": "chart",
      "text": "Higher growth / higher risk, Higher growth / lower risk, Lower growth / higher risk, Lower growth / lower risk, Increasing growth, Decreasing country risk",
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      "kind": "legend",
      "text": "Copper pure plays, Diversified miners, Size of bubble represents copper production",
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      "text": "Lower operational risk: 100% current production in Chile, Well-established mining industry in Chile, Fully permitted growth projects, Long-term committed shareholders",
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      "text": "Lower financial risk: Strong balance sheet, Committed to investment grade rating, Growth projects funded, 35% minimum dividend payout",
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      "kind": "source-note",
      "text": "Source: Visible Alpha copper sales figures (actuals / consensus). Growth shown for 2024-2028. Production data used if sales breakdown by country not available. Note: Risk premium for each company is calculated as copper production-weighted average country risk premium. Country risk source: Aswath Damodaran, Country Default Spreads and Risk Premiums, January 2025. For reference: USA, Sweden, Australia, Canada at 0%; Chile at 1.2%; Portugal at 1.8%; Peru at 2.3%; Mexico, Indonesia and Kazakhstan all at 2.8%; Brazil at 4.4%; DRC, Turkey and Mongolia all at 9.5%; Zambia at 14.6%, Argentina at 17.6% Companies shown are AAL.L, ANTO.L, BHP.L, FCX.NY, GLEN.L, IVN.TO, KGH.WA, RIO.L, SCCO.NY, TECK-B.TO.",
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      "text": "Differentiated via higher growth with lower risk profile",
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