29 March 2012 XSTRATA CANADA CORPORATION Mineral Resources and Mineral Reserves, Collahuasi Copper Mine, Tarapacá Region, Chile Prepared for: Xstrata Canada Corporation 100 King Street West Suite 6900 Toronto, Ontario M5X 1E3 Canada Prepared by: Golder Associates S.A. Magdalena, 181, piso 3 Las Condes, Santiago Chile Effective Date: December 31, 2011 Report Number: 1292154001 Qualified Persons: TECHNICAL REPORT Marcelo Godoy, MAusIMM (CP) Ronald Turner, MAusIMM (CP) Juan Pablo González, Chilean Mining Commission MINERAL RESOURCES AND MINERAL RESERVES, COLLAHUASI COPPER MINE Table of Contents 1.0 SUMMARY ........................................................................................................................................................................ 9 1.1 Scope .................................................................................................................................................................. 9 1.2 Notes to the report ............................................................................................................................................. 10 1.3 Property description and ownership ................................................................................................................... 11 1.4 Geology and mineralization ............................................................................................................................... 11 1.5 Status of exploration .......................................................................................................................................... 11 1.6 Development and operations ............................................................................................................................. 11 1.7 Mineral resource and mineral reserve estimates ............................................................................................... 12 1.8 Conclusions and recommendations ................................................................................................................... 16 2.0 INTRODUCTION ............................................................................................................................................................. 17 3.0 RELIANCE ON OTHER EXPERTS ................................................................................................................................ 18 4.0 PROPERTY DESCRIPTION AND LOCATION ............................................................................................................... 19 4.1 Location ............................................................................................................................................................. 19 4.2 Claim status ....................................................................................................................................................... 19 4.2.1 Surface and camps rights ............................................................................................................................ 21 4.2.2 Water rights and right of way ....................................................................................................................... 22 4.3 Property boundaries and location of mineralized zones .................................................................................... 22 4.4 Nature and extent of issuers title ....................................................................................................................... 23 4.5 Environmental liabilities ..................................................................................................................................... 23 4.6 Future work ........................................................................................................................................................ 24 4.6.1 Growth projects for the concentrate line: ...................................................................................................... 24 4.6.2 Growth projects for the cathodes line: .......................................................................................................... 24 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ............................ 25 5.1 Accessibility ....................................................................................................................................................... 25 5.2 Climate and physiography ................................................................................................................................. 25 5.3 Infrastructure and camp facilities ....................................................................................................................... 25 6.0 HISTORY ........................................................................................................................................................................ 25 7.0 GEOLOGICAL SETTING AND MINERALIZATION ....................................................................................................... 26 29 March 2012 Report No. 1292154001 1 MINERAL RESOURCES AND MINERAL RESERVES, COLLAHUASI COPPER MINE 7.1 Regional geology ............................................................................................................................................... 26 7.2 Local geology .................................................................................................................................................... 29 7.2.1 Mineralisation ............................................................................................................................................... 29 7.2.2 Lithology ....................................................................................................................................................... 31 7.2.3 Alteration ...................................................................................................................................................... 33 8.0 DEPOSIT TYPES ............................................................................................................................................................ 35 9.0 EXPLORATION .............................................................................................................................................................. 36 10.0 DRILLING ....................................................................................................................................................................... 37 10.1 Down hole survey .............................................................................................................................................. 38 10.2 Topographic Survey ........................................................................................................................................... 39 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ............................................................................................. 39 11.1 Logging .............................................................................................................................................................. 39 11.2 Drill hole sampling ............................................................................................................................................. 39 11.3 Database Management ..................................................................................................................................... 41 11.4 QAQC ................................................................................................................................................................ 41 11.4.1 Rosario Oeste QAQC ................................................................................................................................... 41 11.4.2 Rosario QAQC ............................................................................................................................................. 42 11.4.2.1 Capella ..................................................................................................................................................... 44 12.0 DATA VERIFICATION .................................................................................................................................................... 45 13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ...................................................................................... 46 13.1 Mineral processing ............................................................................................................................................. 46 13.2 Metallurgical testing ........................................................................................................................................... 47 14.0 MINERAL RESOURCE ESTIMATES ............................................................................................................................. 48 14.1 History ............................................................................................................................................................... 48 14.2 Geological interpretation .................................................................................................................................... 51 14.3 Model definition.................................................................................................................................................