ANTOFAGASTA PLC (ANFGF $17.30, RATING REMAINS AT UNDERWEIGHT, Price Target Lowered to $13/share from $16/US ADS share) LOWER PRICE TARGET REFLECTS 2ND COPPER PRICE OUTLOOK CUT, LOWER PROVISIONAL PRICING ADJUSTMENT ESTIMATES; HIGHER NEAR TERM OPERATING COSTS AT MICHILLA 2/21/2013

ANTOFAGASTA PLC (ANFGF $17.30, RATING REMAINS AT
UNDERWEIGHT, Price Target Lowered to $13/share from $16/US ADS share)
LOWER PRICE TARGET REFLECTS 2ND COPPER PRICE OUTLOOK CUT,
LOWER PROVISIONAL PRICING ADJUSTMENT ESTIMATES; HIGHER
NEAR TERM OPERATING COSTS AT MICHILLA 2/21/2013

﻿ANTOFAGASTA PLC (ANFGF $17.30, RATING REMAINS AT UNDERWEIGHT, Price Target Lowered to $13/share from $16/US ADS share) LOWER PRICE TARGET REFLECTS 2ND COPPER PRICE OUTLOOK CUT, LOWER PROVISIONAL PRICING ADJUSTMENT ESTIMATES; HIGHER NEAR TERM OPERATING COSTS AT MICHILLA 2/21/2013

ANTOFAGASTA PLC (ANFGF $17.30, RATING REMAINS AT UNDERWEIGHT, Price Target Lowered to $13/share from $16/US ADS share) LOWER PRICE TARGET REFLECTS 2ND COPPER PRICE OUTLOOK CUT, LOWER PROVISIONAL PRICING ADJUSTMENT ESTIMATES; HIGHER NEAR TERM OPERATING COSTS AT MICHILLA 2/21/2013