Mining production and sales, transport and water statistics

Production and sales volumes, realised prices

and
cash cost by mine
2011
'000
tonnes
2010
'000
tonnes
2011
'000
tonnes
2010
'000
tonnes
2011
US cents
2010
US cents
2011
US cents
2010
US cents
Copper
Los Pelambres 411.8 384.6 415.5 379.1 78.3 79.3 371.1 371.7
Esperanza 90.1 86.3 83.2 354.7
El Tesoro 97.1 95.3 96.0 95.3 171.6 169.2 391.1 351.9
Michilla 41.6 41.2 42.2 41.6 213.3 183.8 381.6 263.8
Group total 640.5 521.1 640.0 516.0
Group weighted average (net of by-products) 101.9 104.0 372.6 359.3
Group weighted average (before deducting by-products) 155.2 137.3
Group weighted average (before deducting by-
products and excluding tolling charges from
concentrate) 141.5 124.3
Cash cost at Los Pelambres comprise
On-site and shipping costs 110.0 106.8
Tolling charges for concentrates 18.0 17.6
Cash cost before deducting by-product credits 128.0 124.4
By-product credits (principally molybdenum and gold) (49.7) (45.1)
Cash cost (net of by-product credits) 78.3 79.3
Cash cost at Esperanza comprise
On-site and shipping costs 219.4
Tolling charges for concentrates 15.5
Cash cost before deducting by-product credits 234.9
By-product credits (gold) (151.7)
Cash cost (net of by-product credits) 83.2
LME average 399.7 342.0
Gold 000 ounces000 ounces000 ounces000 ounces US US
Los Pelambres 39.8 35.1 39.8 35.1 1,610.6 1,236.5
Esperanza 157.1 153.4 1,643.4
Group total 196.8 35.1 193.2 35.1 1,636.6 1,236.5
Market average price 1,572.4 1,226.3
Molybdenum 000 tonnes 000 tonnes000 tonnes 000 tonnes US US
Los Pelambres 9.9 8.8 9.4 8.9 15.1 16.2
Market average price 15.5 15.7
Silver 000 ounces000 ounces000 ounces000 ounces
Los Pelambres 1,774.3 1,470.8 1,774.3 1,470.8 35.9 20.4
Esperanza 724.3 724.3 35.2
Group total 2,498.6 1,470.8 2,498.6 1,470.8 35.7 20.4
Market average price 35.1 20.2
Production Sales Cash costs Realised prices
Quarterly information Q1 Q2 Q3 Q4
2011
Year
Group total
Total copper production volume (000 tonnes) 129.80 158.70 165.00 187.00 640.5
Total copper sales volume (000 tonnes) 120.80 168.70 143.60 206.90 640.0
Total gold production volume (000 ounces) 22.10 48.60 54.30 71.80 196.8
Total gold sales volume (000 ounces) 9.80 55.80 40.80 86.80 193.2
Total molybdenum production volume (000 tonnes) 2.30 2.60 2.40 2.60 9.9
Total molybdenum sales volume (000 tonnes) 1.80 2.60 2.80 2.20 9.4
Weighted average realised copper price (cents per pound) 427.70 419.00 288.00 361.40 372.6
Realised molybdenum price (dollars per pound) 17.80 16.20 13.70 12.80 15.1
Weighted average cash costs (cents per pound)
excluding by-product credits and tolling charges 140.80 146.10 140.40 138.90 141.5
excluding by-product credits 155.80 159.40 155.10 151.30 155.2
net of by-product credits 107.80 103.80 100.50 97.30 101.9
Los Pelambres (60% owned)
Daily average ore treated (000 tonnes) 171.30 175.50 174.60 184.70 176.6
Average ore grade (%) 0.68 0.73 0.76 0.77 0.7
Average recovery (%) 89.30 89.90 89.00 90.60 89.7
Concentrate produced (000 tonnes) 274.80 308.30 318.20 326.70 1,228.0
Payable copper in concentrate production volume (000 tonnes) 91.20 101.20 104.90 114.40 411.8
Payable copper in concentrate sales volume (000 tonnes) 88.00 108.20 90.70 128.60 415.5
Payable gold in concentrate production volume (000 ounces) 7.20 10.90 8.80 12.90 39.8
Payable gold in concentrate sales volume (000 ounces) 7.20 10.90 8.80 12.90 39.8
Average moly ore grade (%) 0.02 0.02 0.02 0.02 0.0
Average moly recovery (%) 82.40 82.70 82.60 81.70 82.3
Payable moly in concentrate production volume (000 tonnes) 2.30 2.60 2.40 2.60 9.9
Payable moly in concentrate sales volume (000 tonnes) 1.80 2.60 2.80 2.20 9.4
Copper realised price (cents per pound) 428.40 419.80 266.00 365.20 371.1
On-site and shipment costs (cents per pound) 110.50 113.20 108.40 108.20 110.0
Tolling charges for concentrates (cents per pound) 20.30 17.50 19.40 15.30 18.0
Cash costs (before by-product) (cents per pound) 130.80 130.70 127.80 123.50 128.0
By-product credits (cents per pound) (55.60) (55.50) (45.30) (44.00) (49.7)
Cash costs (cents per pound) 75.20 75.20 82.50 79.50 78.3
Esperanza (70% owned)
Daily average ore treated (000 tonnes) 27.10 53.30 65.30 76.50 55.7
Average ore grade (%) 0.54 0.54 0.53 0.60 0.6
Average recovery (%) 80.90 84.70 86.00 86.50 85.3
Concentrate produced (000 tonnes) 43.50 83.80 101.00 139.00 367.2
Payable copper in concentrate production volume (000 tonnes) 7.40 21.90 25.20 35.60 90.1
Payable copper in concentrate sales volume (000 tonnes) 1.40 25.70 17.70 41.50 86.3
Average gold ore grade (%) 0.41 0.34 0.34 0.38 0.4
Average gold recovery (%) 69.00 71.90 73.80 74.00 72.8
Payable gold in concentrate production volume (000 ounces) 15.00 37.70 45.50 58.90 157.1
Payable gold in concentrate sales volume (000 ounces) 2.60 44.90 32.10 73.80 153.4
Copper realised price (cents per pound) 424.40 423.10 239.10 359.30 354.7
On-site and shipment costs (cents per pound) 287.00 244.60 226.00 185.40 219.4
Tolling charges for concentrates (cents per pound) 15.40 15.50 15.30 15.60 15.5
Cash costs (before by-product) (cents per pound) 302.30 260.10 241.30 201.00 234.9
By-product credits (cents per pound) (157.40) (146.00) (168.90) (141.90) (151.7)
Cash costs (cents per pound) 144.90 114.10 72.40 59.10 83.2
Other information: Mining production and sales,
transportandwaterstatistics
2010
Year
521.1
516.0
35.1
35.1
8.8
8.9
359.3
16.2
124.3
137.3
104.0
159.4
0.8
90.0
1,160.7
384.6
379.1
35.1
35.1
0.0
81.3
8.8
8.9
371.7
106.8
17.6
124.4
(45.1)
79.3
















Quarterly information Q1 Q2 Q3 Q4
2011
Year
El Tesoro (70% owned)
Daily average ore treated (000 tonnes) 25.20 26.00 23.90 20.20 23.8
Average ore grade (%) 0.97 1.10 1.31 1.75 1.26
Average recovery (%) 68.90 72.20 71.20 72.10 71.0
Copper cathodes production volume (000 tonnes) 20.30 24.90 24.50 27.40 97.1
Copper cathodes sales volume (000 tonnes) 20.80 23.10 24.90 27.20 96.0
Copper realised price (cents per pound) 437.00 418.60 372.70 349.50 391.1
Cash costs (cents per pound) 195.20 173.00 161.90 161.40 171.6
Michilla (74.2% owned)
Daily average ore treated (000 tonnes) 14.90 12.50 10.40 12.10 12.5
Average ore grade (%) 1.03 1.31 1.34 1.08 1.18
Average recovery (%) 76.20 74.80 75.20 75.30 75.6
Copper cathodes production volume (000 tonnes) 11.00 10.70 10.30 9.60 41.6
Copper cathodes sales volume (000 tonnes) 10.60 11.70 10.30 9.60 42.2
Copper realised price (cents per pound) 404.00 402.80 361.10 353.00 381.6
Cash costs (cents per pound) 192.20 192.70 205.60 268.50 213.3
Transport (100% owned)
Rail tonnage transported (000 tonnes) 1,524.00 1,651.00 1,618.00 1,627.00 6,419
Road tonnage transported (000 tonnes) 461.00 473.00 481.00 481.00 1,896
Water (100% owned)
Water volume sold potable and untreated (000m) 12,296.00 11,689.00 11,765.00 12,545.00 48,296
Notes
(iv) Realised copper prices are determined by comparing revenue from copper sales (grossing up for tolling charges for concentrates) with sales volumes for
each mine in the period. Realised molybdenum and gold prices are calculated on a similar basis. In the current year realised prices reflect gains and losses on
commodity
derivatives, which are included within revenue.
(v) Water volumes include water transportation of 15,000 m in Q1; 0 m in Q2; 0 m in Q3, 0 m in Q4 and total for 2011 of 15,000 m (185,000 m in Q1
2010;
253,000 m in Q2 2010; 318,000 m in Q3 2010; 299,000 m in Q4 and total for 2010 of 1,055,000 m).
(vi) The totals in the tables above may include some small apparent differences as the specific individual figures have not been rounded.
(i) The production and sales figures represent the actual amounts produced and sold, not the Groups share of each mine. The Group owns 60% of Los
Pelambres,
70% of Esperanza, 70% of El Tesoro and 74.2% of Michilla.
(ii) Los Pelambres produces copper and molybdenum concentrates and Esperanza produces copper concentrate. The figures for Los Pelambres and
Esperanza are
expressed in terms of payable metal contained in concentrate. Los Pelambres and Esperanza are also credited for the gold and silver contained in the
copper
(iii) Cash costs are a measure of the cost of operational production expressed in terms of cents per pound of payable copper produced. Cash costs are stated
net of by- product credits and include tolling charges for concentrates at Los Pelambres and Esperanza. Cash costs exclude depreciation, financial income and
expenses,
hedging gains and losses, exchange gains and losses and corporation tax for all four operations.
2010
Year
26.4
1.10
71.7
95.3
95.3
351.9
169.2
14.1
1.03
77.6
41.2
41.6
263.8
183.8
6,184
1,919
46,302
(iv) Realised copper prices are determined by comparing revenue from copper sales (grossing up for tolling charges for concentrates) with sales volumes for
each mine in the period. Realised molybdenum and gold prices are calculated on a similar basis. In the current year realised prices reflect gains and losses on
commodity
derivatives, which are included within revenue.
(v) Water volumes include water transportation of 15,000 m in Q1; 0 m in Q2; 0 m in Q3, 0 m in Q4 and total for 2011 of 15,000 m (185,000 m in Q1
2010;
253,000 m in Q2 2010; 318,000 m in Q3 2010; 299,000 m in Q4 and total for 2010 of 1,055,000 m).
(vi) The totals in the tables above may include some small apparent differences as the specific individual figures have not been rounded.
(i) The production and sales figures represent the actual amounts produced and sold, not the Groups share of each mine. The Group owns 60% of Los
Pelambres,
70% of Esperanza, 70% of El Tesoro and 74.2% of Michilla.
(ii) Los Pelambres produces copper and molybdenum concentrates and Esperanza produces copper concentrate. The figures for Los Pelambres and
Esperanza are
expressed in terms of payable metal contained in concentrate. Los Pelambres and Esperanza are also credited for the gold and silver contained in the
copper
(iii) Cash costs are a measure of the cost of operational production expressed in terms of cents per pound of payable copper produced. Cash costs are stated
net of by- product credits and include tolling charges for concentrates at Los Pelambres and Esperanza. Cash costs exclude depreciation, financial income and
expenses,
hedging gains and losses, exchange gains and losses and corporation tax for all four operations.