Antofagasta Plc, the copper producer controlled by Chilean billionaire Jean-Paul Luksic, appointed Diego Hernandez, the former chief executive officer of Chile’s state-owned Codelco, to run its mining division.
Antofagasta Plc’s Chief Executive Officer Marcelo Awad resigned, a week before the copper producer controlled by Chile’s Luksic family plans to post 2011 results, following delays in ramping up its Esperanza plant.
Antofagasta Plc, whose Chief Executive Officer Marcelo Awad unexpectedly resigned last month, increased payments to Chairman Jean-Paul Luksic about 6 percent last year after losing a quarter of its value in London trading.
High school rugby coach Bob Markovich paid $3,812 for 250 shares of the Global X Copper Miners ETF in September. He got the idea from an investment club he advises for students, including his daughter Lydia.
Antofagasta Plc , the copper producer controlled by Chile’s Luksic family, said prices for the metal this year will average about $3.30 a pound, 17 percent more than today’s price, as market volatility persists.