NEWS RELEASE, 1 DECEMBER 2015

COMPLETION OF ZALDIVAR TRANSACTION

Further to the announcement on 30 July 2015, Antofagasta plc (the "Company") is pleased to announce the completion of the acquisition of a 50% interest in Compañia Minera Zaldívar ("Zaldívar") from Barrick Gold Corporation. The Company has become the operator of the mine.

Zaldívar is a high-quality open-pit, heap-leach copper mine located in Northern Chile with over 20 years of operating history and remaining reserve life of approximately 14 years. In 2014, Zaldívar produced approximately 100,000 tonnes of copper at a net cash cost of $1.79/lb.

There have been no material changes to the terms of the acquisition since the announcement of the transaction.

Investors - London                                                                                 Media - London

Andrew Lindsay                    alindsay@antofagasta.co.uk                Carole Cable             antofagasta@brunswickgroup.com

Paresh Bhanderi                   pbhanderi@antofagasta.co.uk            Will Medvei              antofagasta@brunswickgroup.com

Telephone                               +44 20 7808 0988                                  Telephone                        +44 20 7404 5959

Investors - Santiago                                                                                Media - Santiago

Alfredo Atucha                     aatucha@aminerals.cl                            Pablo Orozco                  porozco@aminerals.cl

Telephone                               +56 2 2798 7000                                     Carolina Pica                     cpica@aminerals.cl

                                                                                                                     Telephone                      +56 2 2798 7000