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CODELCO NORTE Challenges and Opportunities CRU 7Th World Copper Conference, Santiago, Chile April 2008

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CODELCO NORTE Challenges and Opportunities CRU 7Th World Copper Conference, Santiago, Chile April 2008 CODELCO NORTE Challenges and Opportunities CRU 7th World Copper Conference, Santiago, Chile April 2008 Sergio Jarpa, Corporate Vice President Codelco Norte Radomiro Tomic Radomiro Tomic Mine Chuqui Norte CODELCO NORTE Open pit mining, commisioning in 1995 Chuquicamata CHUQUICAMATA Expansión Chuquicamata Mine Norte Mina Sur Open pit mining, industrial scale Mina Sur commisioning since 1915 Quetena MM Genoveva Sur Mine Open pit mining, started in 1970 as Toki La Exótica, Opache CALAMA CODELCO NORTE Challenges and Opportunities .! TOCOPILLATOCOPILLA CHUQUICAMATACHUQUICAMATA ¤£24 .! ¤£50 ¤£21 .! MARIAMARIA ELENAELENA Bypa ss MM ¤£180 .! CALAMACALAMA Ruta 24 Cobija Circun valac ion es Pe ri urba nas ¤£180 ¤£23 ¤£25 1 SANSAN PEDROPEDRO DEDE ATACAMAATACAMA ¤£ SIERRASIERRA GORDAGORDA .! .! ¤£27 ¤£23 ! MEJILLONESMEJILLONES . ¤£5 ¤£272 .! BAQUEDANOBAQUEDANO B-400 ¤£23 .! ANTOFAGASTAANTOFAGASTA¤£26 ¤£28 CODELCO NORTE Challenges and Opportunities 1. Water : 2000 l/s from own sources in the mountain range 2. Electric Power : 390 MW from the SING, Electroandina Company. Contracts until 2009 and 2017. Coal and Diesel Generation 3. Fuels : Diesel and bunker: via trucks from Antofagasta 4. Materials : Via truck or railroad from the ports of Antofagasta, Iquique, Mejillones and other places from the country. 5. Acid : Own production, occasional purchases from Mejillones. 6. Transportation : Railroad (Chuqui) and trucks (RT y SBL). 7. Logistic routes : Roads: Antofagasta – Tocopilla. Railroad: to the ports of Antofagasta and Mejillones. Air: 3 airlines. CODELCO NORTE Challenges and Opportunities • Sustainable Development Policy: Environmental Management – Safety and Social Responsibility. • ISO 14.001 and 9001 and OHSA 18.001 Certification • Chuquicamata cease to be an SO2 emission saturated zone and has its own air quality monitoring system. • Mining Camp relocation to Calama • Environmental Investment: 1,000 MUS$ in last 10 years • EIA Puno and MM Proceedings • Codelco Strong Social Commitment with local community CODELCO NORTE Challenges and Opportunities Total in Situ 17.707 Millions of Tons @ 0,52 % Cu - 92,7 Mtons of i.s. Copper CODELCO NORTE Challenges and Opportunities 120 110 100 90 80 70 n 60 Mto 50 40 30 20 10 - RT Chuquicamata MMH DCN Andina Teniente Recursos 26 39 13 91 102 99 Reservas 10 13 9 34 44 38 Division CODELCO NORTE Challenges and Opportunities Hidronorte RT Heap Leaching SX-EW Bioleaching CHUQUI Sulphur Line Cathode Anodes Smelter ER MM Cu/Mo Project Mill Concentrate Calcine Calcine Roaster Hidrosur Cathode ENMS Heap Leaching SX-EW CODELCO NORTE Challenges and Opportunities MMH Open Pit MMH Underground Roasting proces Chuqui For MMH concentrates Underground PRE Stripping MMH 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2023 2052 Chuqui Open Pit closed Bioleaching of RT Ore tailing sands Bioleaching CODELCO NORTE Challenges and Opportunities Chuqui Open Pit RTS Chuqui UG MMH Open Pit MMH UG Average Grade (%) KTPD RTS Grade (%) Average CODELCO NORTE Challenges and Opportunities Risk Analisys to 95% Reliability 200 180 160 140 VaR95% : MUS$ 2.055 Undeveloped 120 100 plan 80 60 40 20 0 2008 2010 2012 2014 2016 2018 2020 2022 2024 Chuqui Under. Chuqui Open P. MM Under. RT MM Open P. 200 180 160 VaR : MUS$ 480 140 95% 120 RT Plan 100 80 60 ktpd 60 40 20 Variation 2010 0 2008 2010 2012 2014 2016 2018 2020 2022 2024 ΔVaR : MUS$ - 1.575 Chuqui Under. Chuqui Open P. MM Under. RT MM Open P. 95% CODELCO NORTE Challenges and Opportunities PRIMARY CRUSHER STATION MINA R.TOMIC INITIAL STOCKPILE CHANCADOR 4 Stockpile Inicial CONVEYOR BELT CORREA 7,2 7,2 MINA Kms CHUQUI FINAL STOCKPILE STOCKPILE FINAL CODELCO NORTE Challenges and Opportunities 48N 42N 49NW 53W 51W 38S 52W CODELCO NORTE Challenges and Opportunities CODELCO NORTE Challenges and Opportunities Kton Cu Fino Año CODELCO NORTE Challenges and Opportunities Cut Acum (%) • Continue to mitigate geotechnical risk by monitoring and unloading. • Improve “control” of ongoing operations – benchmarking and operational excellence integration. • Investigate pre-stripping of RT and acceleration of MMH open pit as opportunities to mitigate risk. • Revisit high arsenic issue - a long term strategic perspective considering market- values of concentrates and environmental restrictions. • Reassess the mill expansion strategy - requires a rigorous quantitative approach that fully considers associated risks but also the opportunities to expand production capacity based on our significant mineral resources potential. • Reevaluate Toki and bioleaching of low grade sulphide resources to mitigate exhaustion of MS an RT leacheable ore. CODELCO NORTE Challenges and Opportunities CRU 7th World Copper Conference, Santiago, Chile April 2008.
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