DOCSLIB.ORG

Investor Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Presentation Southern Copper Corporation September, 2020 0 I. Introduction 1 Safe Harbor Statement This presentation contains certain statements that are neither reported financial results nor other historical information. These estimates are forward-looking statements within the meaning of the safe-harbor provisions of the securities laws. These forward-looking estimates are subject to risk and uncertainties that could cause actual results to differ materially from the expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Southern Copper’s (SCC) ability to control or estimate precisely, such as future market conditions, commodity prices, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date of this presentation. SCC does not undertake any obligation to publicly release any revision to these forward-looking estimates to reflect events or circumstances after the date of this presentation. 2 Corporate Structure 100.0% (*) AMERICAS MINING CORPORATION 88.9% (*) Public Float 11.1% (*) 99.29 % 99.96 % SCC Peru Branch Minera Mexico (*) As of June 30, 2020 3 Copper – The Best Fundamental Story in Commodities Solid Fundamentals Copper Consumption by Region Other ― COVID-19 has dramatically changed the expected supply 11% Japan and demand balance, affecting both of them. 4% ― As of June 30th, refined copper inventories increased by USA 8% 48K tons since Dec-19. China 49% ― Difficult to predict any market direction. At this point, equilibrium has been found at a much lower activity level. Europe 16% Asia Ex China LME Copper Cash Price vs. Inventories 12% Wood Mackenzie 2018 3.50 1,000,000 Copper Consumption by End-use 900,000 3.00 800,000 Transport 2.50 700,000 Consumer & General 11% 600,000 Products 2.00 25% 500,000 1.50 400,000 1.00 300,000 Electrical 200,000 Network 0.50 24% 100,000 0.00 - Industrial Machinery 10% 9-Jul-19 4-Apr-17 2-Jan-15 6-Dec-16 1-Nov-19 31-Jul-17 19-Jul-18 30-Apr-15 15-Apr-16 26-Jun-20 22-Mar-18 12-Mar-19 28-Feb-20 25-Aug-15 18-Dec-15 11-Aug-16 23-Nov-17 13-Nov-18 LME COMEX shanghai LME Cash ► Refined copper inventories have decreased by 34%, since its Construction peak in March, 2018. Wood Mackenzie 2018 30% 4 Southern Copper Strengths ►Highest copper reserves of the industry ►Excellent organic growth projects ►Low cost, fully integrated operations ►Experienced management team ►Strong financial performance / investment grade since 2005 ►Outstanding dividend history ►Good long-term copper & by-product fundamentals 5 II. Overview of Operations 6 Company Overview Copper Reserves 1: 67.6 mmt Mexico Buenavista El Pilar 2020 Cash Cost $ 0.72/lb. Santa Eulalia La Caridad El Arco Santa Barbara San Martin 2020 Estimates (@ $2.75 x Lb of Cu): Charcas Copper Production: 997 kt San Luis Potosi Sales: $ 7.5 B Taxco EBITDA: $ 3.5 B Peru 47% of Sales Key 2 #1 copper company by reserves Michiquillay Copper open pit mines Underground mines 3 #5 copper producer Smelters and Refineries #10 copper smelter 3 Projects Los Chancas 3 #7 refinery Cuajone Tia Maria Source: Company Filings Ilo Toquepala Notes: 1 Copper contained in reserves based on US$2.90 per pound of copper as of December 31, 2019 2 Based on available companies reports 3 Wood Mackenzie Limited 2017 7 World’s Largest Copper Reserves Copper Reserves as Reported SCC Highlights ► #1 mine life among copper producers 80 ► #5 world’s largest producer of mined copper 70 67.6 ► Highly diversified geographical presence 60 52.6 ► Four large-scale open-pit mines 50 46.6 44.4 ► A strong pipeline of world class copper 40 greenfield projects and several other opportunities 30 28.8 Mine Life (years of production) Copper Reserves (Mt) 20 19.2 17.3 13.1 10 100 94 0 80 68 SCC First Anglo Xstrata Codelco 60 Freeport Rio Rio Tinto Glencore Quantum American 49 BHP Billiton 40 36 34 Source 10K 10K Annual Rep. 20F Reserve Rep. Annual Rep. Annual Rep. Annual Rep. 27 27 26 23 21 Period Dec.31, 2019 Dec.31, 2019 Dec.31, 2019 Jun. 30, 2019 Dec. 31, 2019 Dec. 31, 2019 Dec. 31, 2019 Dec. 31, 2019 20 Cu Price $2.90 $2.50 $2.96 $2.65 N/A $3.00 $2.70 $2.97 0 SCC SCC SCC after Freeport First Anglo Codelco BHP Rio Tinto Xstrata 2015 2019 expansion Quantum American Billiton (2028) 8 Geographic Footprint & Product Diversification 2019 Revenue by Product 2019 Revenue by Market Other Silver 4% Zinc 3% Asia 40% 4% Peru 5% Molybdenum 8% Other LatAm 7% Europe 8% Copper 81% United States 12% Mexico 28% 9 Low Cost Operations Cash Cost per Pound of Copper Produced Low Cost Drivers Net of By-Products 1.2 1.11 Fully integrated low cost operations World class assets 1.0 0.95 0.92 0.87 0.88 Significant SX-EW production 0.8 (US$/lb) 0.76 Strong by-product credits 0.67 Management focus on cost efficiency and growth 0.6 2015 2016 2017 2018 2019 1Q20 2Q20 Operating Cash Cost per Pound of Copper Cost Structure (1) Produced Other Operating 19% Materials 18% 1.70 1.66 1.54 Fuel 1.49 1.52 13% (US$/lb) 1.44 Maintenance 1.42 21% 1.26 Power 15% 1.20 Labor 2015 2016 2017 2018 2019 1Q20 2Q20 14% 10 (1) 2019 2019 Copper Production Cash Cost by Company Global Weighted Avg. 138.0 c/lb 11 III. Financial Overview 12 SCC Financial Summary (US$ MM) 2017 2018 2019 2020 E Copper Price (LME) US$ per pound 2.80 2.96 2.72 2.62 2.75 Income Statement: Net Revenues $6,655 $7,097 $7,286 $7,257 $7,503 EBITDA 3,292 3,556 3,527 3,322 3,526 EBITDA Margin 49% 50% 48% 46% 47% U.S. Income Tax Reform Adjustment (743) Net Income 729 1,543 1,486 1,466 1,600 Dividends paid per share 0.59 1.40 1.60 0.60 0.60 Balance Sheet Statement: Cash, Equivalents & Short Term Investments $1,055 $1,058 $2,006 $2,640 $2,783 Total Assets 13,771 14,485 16,407 17,083 17,260 Total Debt 5,957 5,960 6,941 6,541 6,541 Total Liabilities 7,621 7,872 9,549 9,098 9,141 Total Shareholders' Equity 6,108 6,567 6,810 7,933 8,067 Cash Flow Statement: Capital Expenditures $1,024 $1,121 $708 $800 $800 Free Cash Flow 1 953 1,114 1,204 1,377 1,520 Dividends paid to common shareholders 456 1,082 1,237 464 464 Total Debt / EBITDA 1.8x 1.7x 2.0x 2.0x 1.9x Net Debt / EBITDA 1.5x 1.4x 1.4x 1.2x 1.1x 1 Free Cash Flow defined as net cash from operating activities less capital expenditures. 13 Solid Financial Performance Top Tier Margins and Conservative Leverage for Increased Financial Flexibility 2019 EBITDA Margin (%) 2019 Total Debt / EBITDA (x) Amortization Schedule Rio Tinto 0.6 2020 $400 BHP 52% 2022 Anglo $300 0.9 Antofagasta 49% American 2025 $500 BHP 1.1 SCC 48% 2028 $51 Antofagasta 1.0 2035 $1,000 Rio Tinto 48% 2040 $1,100 First SCC 2.0 Quantum 40% 2042 $1,200 Anglo Freeport 4.6 American 34% 2045 $1,500 First 2050 $1,000 Freeport 15% Quantum 4.8 Source: Bloomberg Consensus Source: Company Reports and Bloomberg Consensus 14 Investment Program to Significantly Increase Production Board approved Other projects 2017-2020 2021-2024 MEXICO PERU Buenavista: El Arco Conc. & SX/EW 2H27 - Los Chancas Conc. & SX/EW - $3.1B program to increase capacity Pilares 2022 - $159M 35K Tons Cu $2.8B 190K Tons Cu, 105K Oz 1H27 - $2.8B - 130K Tons Cu, from 180K Tons Cu to 500K Tons Cu, Au 7.5K Tons Mo 4.6K Tons Mo Ilo Smelter & Refinery Buenavista Zinc Conc. 2022 - $413M 20K Empalme Smelter 1H25 - Expansion 1H25 - $1.3 Tons Cu, 100K Tons Zn $1.1B Toquepala Concentrator Expansion Michiquillay 1H28 - $2.5B - El Pilar 1Q22 - $256M – 35K Tons Cu 4Q18 - $1.2B - 100K Tons Cu, 3.1K 225K Tons Cu Tons Mo Tia Maria SX/EW 2H24 – $1.4B - 120K Tons Cu 2018-2028 Capex Program Overview (MM) 2018-2028 Copper Production Forecast (‘000 MT Cu) 1,752 3,400 1,800 2,960 1,600 +98% 3,000 2,862 Average: 2,738 1,400 2,600 $1.8 B 1,298 1,159 2,126 1,200 1,105 1,127 2,200 2,031 2,076 1,067 994 997 986 1,705 1,000 950 1,800 884 800 1,400 1,053 600 1,000 800 678 400 600 358 200 200 0 15 Source: SCC2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Best-in-class Mining Projects Reaching Completion Providing Competitive Cash Costs and Increased Production Levels Project Capital Intensity at SCC Projects Initial Capex % of Total Incremental Production Capital Intensity Type (US$ MM) Capex Cu Eq. (kt/y) (US$/tpy Cu Eq.) Brownfield Projects Toquepala concentrator expansion Expansion (N) 1,253.2 8.5% 100.0 12,532 Buenavista SXEW III Expansion (N) 1,363.5 9.3% 120.0 11,363 Buenavista concentrator expansion Expansion (N) 1,785.4 12.1% 188.0 9,497 Buenavista Zinc Probable 413.0 2.8% 61.7 6,697 Pilares Extension 159.0 1.1% 35.0 4,543 Total / Weighted average intensity 4,974.1 33.8% 504.7 9,856 Greenfield Projets Tia Maria SXEW Probable 1,400.0 9.5% 120.0 11,667 Los Chancas Probable 2,800.0 19.0% 150.0 18,667 Michiquillay Possible 2,500.0 17.0% 225.0 11,111 El Pilar Probable 256.0 1.7% 35.0 7,314 El Arco Possible 2,800.0 19.0% 209.8 13,343 Total / Weighted average intensity 9,756.0 66.2% 739.8 13,187 Industry-Wide Capital Intensity Comparison vs.
Load more

Recommended publications
  • Carta De Codelco
    Codelco Investor Presentation February 2014 Copyrights © 2011 CODELCO-CHILE. Todos los Derechos Reservados. CopyrightsCopyrights © 20112010 by CODELCO--CHILE. All Rights Reserved. 1 Codelco´s Highlights Industry Overview Operating & Financial Review Development Plan Update & Outlook Copyrights © 2011 CODELCO-CHILE. Todos los Derechos Reservados. CopyrightsCopyrights © 20112010 by CODELCO--CHILE. All Rights Reserved. 2 Codelco At a Glance World Largest Copper Producer: 10% of Market Share Copper Reserves and Sep 2013 Financial Results Resources (million US$) (million mft) Pre-Tax Profit 2,672 Geological Resources 339.5 EBITDA 4,194 Mineral Resources 131.9 EBITDA Margin 38.5% Reserves 63.6 Sep 2013 Production* Credit Ratings (thousand mft) S&P AA- Stable Copper 1,310 Moody‟s A1 Negative World largest copper producer Fitch A+ Stable Molybdenum 16.2 2nd world largest moly producer DBRS A Stable *: Includes 49% share in El Abra and 20% in Anglo American Sur Copyrights © 2011 CODELCO-CHILE. Todos los Derechos Reservados. CopyrightsCopyrights © 20112010 by CODELCO--CHILE. All Rights Reserved. 3 Codelco: Sales Breakdown Sales Breakdown by Product – Sep 2013 Sales Breakdown by Region (mft) – Sep 2013 100% US$ millions 2013 % 1% 1% 13% 10% Copper 10,128 92.9% 90% Molybdenum 378 3.5% 10% 80% 12% Other Products (anodic slimes, 395 3.6% 70% 18% sulfuric acid, etc.) 15% Total 10,901 100% 60% 50% 18% 20% Copper Sales Breakdown (mft) – Sep 2013 40% Refined Copper 80% 30% Concentrate 20% - Cathodes 74% - Anodes/Blister 6% 20% 41% 40% 10% 0% Sep-13 Sep-12 China Asia (exc. China) Europe Source: Codelco North America South America Oceania Copyrights © 2011 CODELCO-CHILE.
    [Show full text]
  • The Mineral Industry of Chile in 2014
    2014 Minerals Yearbook CHILE U.S. Department of the Interior October 2017 U.S. Geological Survey THE MINERAL INDUSTRY OF CHILE By Susan Wacaster Chile’s position in the world’s mineral economy was that of a accounted for by the mining sector—4.9% by state-owned leading producer of copper, gold, iodine, lithium, molybdenum, Corporación National del Cobre (CODELCO) and 5.1% by natural nitrates, rhenium, silver, and zinc. In 2014, Chile private mining operations. The mining sector’s contribution to continued to be the world’s leading producer of mined copper, Government revenue between 2003 and 2013 averaged about accounting for 31% of the total; iodine, 66%; and rhenium, 20% annually but had been decreasing since 2008. The decrease 56%. Chile was the world’s second-ranked producer of lithium, was directly related to a downturn in international prices for accounting for 36% of total mine production after Australia copper. Since 2012, the average annual rate of growth of the (with less than a 1% difference), and mined boron (ulexite), price of refined copper on both the London Metal Exchange accounting for 10% of total production after Turkey (which and the New York Metal Exchange decreased by an average accounted for 70% of world production). Chile was the world’s annual rate of 8%. In turn, the average annual rate of growth third-ranked producer of molybdenum, accounting for 17% of of copper mine production in Chile increased by 3% per year. world production after China (37% of world production) and Mining sector activities contributed significantly to other the United States (24%); and the fifth-ranked producer of mined economic sectors in Chile.
    [Show full text]
  • Telfer W with Pr 800,000 Copper Signific Resourc
    4420 Newcrest Cover 04 6pp 16/9/04 9:52 AM Page 2 Telfer will be the largest gold mine in Australia, with projected annual production of more than 800,000 ounces of gold and 30,000 tonnes of copper for 24 years, positioning Newcrest as a significant and profitable Australian-based resources business. Newcrest Mining Limited Newcrest – The Sustainable Section 5 Resource Business 1 Sustainability and People 38 Section 1 Health and Safety 40 Our Results 2 Environment 42 Human Resources 43 Performance in Brief 2 Chairman’s Review 4 Section 6 ABN: 20 005 683 625 ABN: Managing Director and Corporate Governance 44 Chief Executive Officer’s Report 5 Board of Directors 45 Newcrest Senior Management 10 Corporate Governance 46 Financial Report 11 Section 7 Section 2 Concise Annual Report 2004 Financials 49 Operations 12 Directors’ Report 50 Cadia Valley Operations 14 Management Discussion and Analysis Ridgeway Gold/Copper Mine 14 of the Financial Statements 56 Cadia Hill Gold/Copper Mine 16 Statement of Financial Performance 58 Toguraci Gold Mine 19 Statement of Financial Position 59 Section 3 Statement of Cash Flows 60 Projects 22 Notes to the Concise Financial Report 61 Directors’ Declaration 68 Telfer Gold/Copper Project 24 Independent Audit Report 69 Cracow 26 Cadia East 28 Shareholder Information 70 Boddington Expansion Project 29 Five Year Summary 72 Section 4 Corporate Directory IBC Exploration 30 Strategy and Review 32 Mineral Resources and Ore Reserves 34 Newcrest Mining Limited Newcrest ABN: 20 005 683 625 Notice of Meeting Notice is hereby given that the 24th Annual General Newcrest Mining Limited Meeting will be held at the Hyatt Regency Hotel, Concise Annual Report 2004 99 Adelaide Terrace, Perth, Western Australia on Wednesday 27 October 2004 at 9.30am.
    [Show full text]
  • Investor Presentation
    Southern Copper Corporation November, 2018 0 I. Introduction 1 Safe Harbor Statement This presentation contains certain statements that are neither reported financial results nor other historical information. These estimates are forward-looking statements within the meaning of the safe-harbor provisions of the securities laws. These forward-looking estimates are subject to risk and uncertainties that could cause actual results to differ materially from the expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Southern Copper’s (SCC) ability to control or estimate precisely, such as future market conditions, commodity prices, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date of this presentation. SCC does not undertake any obligation to publicly release any revision to these forward-looking estimates to reflect events or circumstances after the date of this presentation. 2 Corporate Structure 100.0% (*) AMERICAS MINING CORPORATION 88.9% (*) Public Float 11.1% (*) 99.29 % 99.96 % SCC Peru Branch Minera Mexico (*) As of September 30, 2018 3 Copper – The Best Fundamental Story in Commodities Solid Fundamentals Copper Consumption by Region ► Copper has the best fundamentals in the basic materials space: ― Expect 2.8% copper demand growth. 2018 demand driven by strong U. S. economic growth. ― Expect supply growth of 2% due to lack of projects. About 1/3 of world supply will discuss labor conditions. ― Our basic scenario does not consider an escalation of U.S.
    [Show full text]
  • Peñasquito Site Tour
    Peñasquito Site Tour FEBRUARY 2020 PEÑASQUITO SITE TOUR 2.27.2020 Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS: This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” “target,” “indicative,” “preliminary,” or “potential.” Forward-looking statements in this presentation may include, without limitation, (i) estimates of future production and sales, including production outlook, average future production, upside potential and indicative production profiles; (ii) estimates of future costs applicable to sales and all-in sustaining costs; (iii) estimates of project spend, budget estimates, sustaining capital and
    [Show full text]
  • Contents Codelco – 1.7MT Steady – Sum 1.7MT 2020 – GROWTH 1.7MT
    Expected forward production per copper miner Contents Codelco – 1.7MT steady – sum 1.7MT 2020 – GROWTH 1.7MT ....................................... 2 BHP – 1.7MT – 3.4 MT – growth 3.4MT ............................................................................ 4 Rio Tinto – 0.4MT = 3.8MT – growth 3.8MT ...................................................................... 4 Glencore – 1.4MT down to 1.3 MT long term – 2020=5.2MT, 2024=5.1MT ...................... 4 FCX – 1.5MT – growing to 1.9 2022 = 6.7 MT later 7.1 MT ............................................... 4 Anglo American0.8 – +0.45MT by 2023 – 7.5MT – later 8.35MT ...................................... 5 Antofagasta – 0.7MT, going to 1MT 2025 – 8.3MT later 9.35 MT ...................................... 5 Norilsk 0.5 – stable – 8.8 MT – 9.85 MT .............................................................................. 5 First quantum 0.7MT – 0.7MT – 9.5MT later 10.55MT ....................................................... 5 Sourhern copper 1MT – 2025 1 MT – 2027 1.7MT – 10.5MT – 11.55 MT by 2025. 2027 12.35 MT................................................................................................................................ 5 Teck 0.3 MT + 0.3 by 2023 – 10.8MT – 2023 12.15 MT ..................................................... 5 Barrick Gold – 0.15 rest included with Zaldivar for Antofagasta – 0.15 = 10.95/12.3 MT .. 6 Newcrest mining – 0.1 growth Wafi Golpu – 11.05/12.4 MT ............................................... 6 Seabridge gold KSM project .................................................................................................
    [Show full text]
  • Emerging Players in Global Mining Public Disclosure Authorized Public Disclosure Authorized
    Extractive Industries and Development48882 Series #5 June 2009 Public Disclosure Authorized Emerging Players in Global Mining Public Disclosure Authorized Public Disclosure Authorized Dr. David Humphreys The World Bank 1818 H Street, N.W. Washington, D.C. 20433 USA www.worldbank.org/ogmc (OR /oil OR /gas OR /mining) Public Disclosure Authorized www.ifc.org/ogmc (OR /oil OR /gas OR /mining) World Bank Group’s Oil, Gas, and Mining Policy Division Oil, Gas, Mining, and Chemicals Department A joint service of the World Bank and the International Finance Corporation The Oil, Gas, and Mining Policy Division series publishes reviews and analyses of sector experience from around the world as well as new findings from analytical work. It places particular emphasis on how the experience and knowledge gained relates to developing country policy makers, communities affected by extractive industries, extractive industry enterprises, and civil society organizations. We hope to see this series inform a wide range of interested parties on the opportunities as well as the risks presented by the sector. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors and should not be attributed in any manner to the World Bank or its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use. Extractive Industries
    [Show full text]
  • (Microsoft Powerpoint
    SOUTHERN COPPER Company Overview & Highlights May 2017 1 Presenter: Raul Jacob Vice President of Finance, Treasurer & CFO Southern Copper Corporation 2 Corporate Structure 3 Remarkable • Record production of 900 ktons of Year 2016 and copper in 2016, 21% YOY growth. • Net income for 1Q17 was $314.4 million, 1Q 2017 for 70% higher than 1Q16 net income of • Highest margin major copper $185.1 million. SCC producer globally: US$0.95 cash cost per pound in 2016. • 1Q17 EBITDA was $722.3 million, 50.2% higher than 1Q16. Margin increased to • Proven Strong Track-Record of 45.6% from 38.6% in 1Q16. Transformational Organic Growth: Delivered 448 ktons of copper in • Cash cost per pound continued improving Buenavista (vs 180 ktons in 2012). during 1Q17; reaching $0.88. Nine cents lower than the cash cost for the 4Q16. • We have best-in-class low cost operations, coupled with a large, high-quality reserve base in investment grade jurisdictions. 4 COPPER MARKET TO DEMAND 4.4 Mt OF NEW PRODUCTION COPPER: Taking advantage of the market structural OUR TRACK RECORD SCCO 2 nd GENERATION OF PROJECTS deficit (000 tons) (000 tons) 900 1,503 +68% +88% 900 479 Tia Maria 120K Los Chancas 130K El Arco 180K El Pilar 35K Pilares-Caridad 35K Other 103K 2010 2016 2017(E) 2016+New Projects 5 SCCO Zinc Production (000 MT) Buenavista Zinc Concentrator + 88K ZINC: IMMSA +13K significant 175 market deficit creates 136% oportunities 74 to enhance 62 shareholders value 2015 2016 2016+New Projects 6 Cost Leader in the industry with fully integrated operations and unparallel organic growth projects Largest copper reserves of the industry Good long-term copper & by-product Southern fundamentals Copper Strengths Strong balance sheet & financial performance Experienced Management Team 7 Company Overview 8 #1 Copper Mining Company in Mexico, #1 in Peru, Company Overview Fully integrated low-cost operations in Investment Grade countries .
    [Show full text]
  • Codelco 2020 Corporate
    CODELCO Corporate Presentation September 2020 Disclaimer This presentation does not constitute a prospectus, and nothing in this presentation is intended to be taken by, or should be taken by, you as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security in any jurisdiction, including the United States, in which it is unlawful to make an offer or solicitation. Such an offer or solicitation can only be made in the U.S. by way of an effective registration statement or prospectus in accordance with the applicable securities laws. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information set forth herein does not purport to be complete, should be considered in the context of the circumstances prevailing at the time, and CODELCO is not responsible for any error and/or omissions with respect to the information contained herein. None of CODELCO or any of its respective affiliates shall have any liability whatsoever (in negligence or otherwise), for any loss howsoever arising from any use of this presentation, its contents or otherwise arising in connection with it. This presentation includes ‘forward-looking statements’, containing the words “anticipate”, “believe”, “intend”, “estimate”, “expect” and other words of similar meaning. All statements other than historical facts covered in this presentation, including, without limitation, those regarding CODELCO’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives related to CODELCO’s products and services), industry trends and the environment in which CODELCO operates, are forward-looking statements.
    [Show full text]
  • Communications & Sustainability in the Mining Industry
    CHANGING THE GAME COMMUNICATIONS & SUSTAINABILITY IN THE MINING INDUSTRY 1 ABOUT THIS REPORT The International Finance Corporation (IFC), the International Council on Mining and Metals (ICMM) and Brunswick Group work with senior communications professionals in the mining industry in a variety of ways. Each organization has noticed an increased focus on the need for mining companies to effectively communicate with stakeholders and decided to collaborate to develop a better understanding of how communications is used to support business outcomes and sustainability efforts. The insights in this report are drawn from conversations with industry leaders and practitioners as well as the first-hand experience of IFC and Brunswick Group advising on a variety of situations from new mine development to mergers and acquisitions. The publication does not aim to be exhaustive, but the trends and practical examples identified in the report may be instructive to communications professionals and others in the mining industry. Courtesy of Rio Tinto: Magnetite loading bay 2 HOW COMMUNICATIONS SUPPORTS SUSTAINABILITY: 5 TRENDS Creating an environment for effective stakeholder dialogue “Under-engagement is the biggest risk.” Using transparency to build trust “Not understanding and listening … is a sure way to create mistrust.” Integrating communications to enhance sustainability efforts “Communication is not just what we say but how we react to queries from stakeholders.” Prioritising internal communication and corporate culture “Everyone is an ambassador of the company.” Measuring impact “We are linking manager performance to how quickly they respond to grievances.” 3 Changing EXPECTATIONS, CHANGING COMMUNICATIONS In 2011 a junior exploration company operating in range of information. Merely pushing information out is a well-known mining region was riding high.
    [Show full text]
  • Trends and Treatment of Impurities in Copper Mining（PDF：8.0MB）
    TRENDS AND TREATMENT OF IMPURITIES IN COPPER MINING Iván Valenzuela, General Manager, EcoMetales Limited October 16, 17, 2018 – Japan INTERNATIONAL SEMINAR ON IMPURITIES IN COPPER RAW MATERIAL Topics 1 2 3 GLOBAL FINAL ECOMETALES TRENDS REMARKS EcoMetales: Environmental solutions for the mining industry Arsenic An unresolved problem Structural Closed circuit:The Stricter problem: Most process of environmental norms new copper scorodite, or similar, for transporting and deposits have stable residue is processing complex a high arsenic not applied concentrates are content. extensively. expected EcoMetales: Environmental solutions for the mining industry Arsenic content concentrate output is growing fast: 0.13% in 2000 ...>0.20% in 2016...0.30% in 2020, according to ICSG Arsenic Chile is the world’s leading producer of content copper in concentrates with 24% of total Solvingin copper the arsenic problem is a prio- concentrates rit inarsenic Chile and problem is a priority14% 10% 5% 4% Perú Perú China Australia USA Chile should increase its share to 26% by 2030. Perú Chile • El Brocal (Buenaventura): 5 – 8% As • DMH (Codelco): 1 - 3% As • Cobriza (Doe Run): 0.4 – 0.6% As • Chuqui (Codelco): 0.5 – 2% As • Chinalco: 0.5 -1% As • El Teniente (Codelco): 0.15 - 0.20% As • Magistral (Nexa Resources) (*): 1% As • Collahuasi: paying penalties on higher As • Cañariaco (Candente Resources): 1% As (*) Projects; • Other projects: La Granja, Galeno SOURCES: Codelco, Cochilco, Anglo American, EcoMetales, ICSG EcoMetales: Environmental solutions for the
    [Show full text]
  • BHP Billiton Base Metals
    BHP Billiton Base Metals CSG Briefing 13 October 2004 Disclaimer The views expressed here contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by BHP Billiton. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction. Page No 2 Agenda Introduction and Strategy Diego Hernandez, President Financial Overview Glenn Kellow, VP & CFO Market Overview John Crofts, Marketing Director Operations Diego Hernandez, President Ian Ashby, VP & Chief Operating Officer Growth Diego Hernandez , President Question and Answer Page No 3 Purpose of Today’s Briefing • Summary of key messages to close • An update on the CSG’s performance • To discuss some of the key issues facing the CSG and the industry • To demonstrate our continuous optimisation of the existing asset base • To highlight our value enhancing organic growth projects, helping to meet increased global demand for our commodities Page No 4 BHP Billiton Base Metals Base Metals M arketing, The Hague M arketing presence in Shanghai, Tokyo and Seoul Resolution Project, Arizona Antamina, Peru Cerro Colorado Chile Tintaya, Peru Cannington, Escondida, Chile Spence Project, Chile Australia CSG Head Office Page No 5 Santiago, Chile Strategic focus Base Metals’ mission is to create value for BHP Billiton shareholders through its exposure to the base metals value chain.
    [Show full text]