智利国家铜业公司介绍

Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
3
Codelco: Operations and Global Commercial Presence*
Chuquicamata Division Copper
Radomiro Tomic Division Copper
Leadership in Copper Production
Codelco : 11% Others:6 3% FCX:9% BHP Billiton:7 % Xstrata:6 % Rio Tinto:4%
Australia:4 % Russia:4% Poland:5% China:5% Indonesia: 6% United Mexico:7 % States:6% Peru:12% Other Countries: 20% Others Chile:20%
CODELCO UPDATE
Байду номын сангаас
July 2011
Highlights Industry Overview Operating Performance and Capex Program Financial Review
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
Others: 54%
China Molybden um:9% China JDC:7% Grupo Mexico: 6%
Chuquicamata q Radomiro Tomic MMH Salvador Andina El Teniente Minera Gaby S.A. CODELCO
*: Proven and Probable Reserves and Identified Mineral Resources in Minning Plan of BDP Source: Codelco
6 5 4
20.000
30.000
40.000
Developed Countries
China Brazil India
0 2.000 4.000 6.000 8.000 10.000 12.000
3 2
1960
1970
1980
1990
2000
2010
1 0
Source: WBMS, FMI, World Bank *Figures 2010: Forecast. ** Period 1980 – 2010
Concentrate 11% Refined Copper 89% - Cathodes 79% - Fire refined 6% - Blister 4%
1Q 2011 Top p Clients
Nexans Copper France Southwire Company Codelco Kupferhandel Copper Partners Cobre Cerrillos S.A. Maike Metals Int. Int Ltd LS Cable Company Ltd Ningbo Sunhu Chem. Products France USA Germany China Chile China South Korea China China
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
7
Copper Real Price
500 450 400 350 300 250 200 150 100
1930 Great Depression 2004-2008 Price “Boom” principally provoked by China irruption 1914 ‐ 1916 WW1 1966 Bankruptcy of many companies due to Chilean nationalizations & Japanese economic miracle
1917
1926
1935
1944
1953
1962
1971
1980
1989
1998
2007
Source: WBMS, WBMS IMF and Codelco. Codelco *: USA: 1980 – 2004. 2004 2010: Forecast. Forecast
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
2008-2009 Subprime Crisis
1972-1978 Worldwide deceleration due to Petroleum crisis
50 1908
1997-2003 Excessive stock levels, increase in Chilean Production, Asian Crisis
Asia (ex. China) 21% Europe 23%
1Q 2011 Sales Breakdown by Region
Oceania 1% South America 9% N th A North America i 12% China 35%
1Q 2011 Copper pp Sales Breakdown ( (mft) )
Chuqui RT
Antofagasta
El Abra MMH
Calama
Gaby C H
Santiago
CODELCO Resources: Largest world’s world s proven and probable copper reserves, 10%
Andina
El Teniente
2
Competitive Strengths
CODELCO: The World’s Leading Mining Company with High Quality Assets
CODELCO´s CODELCO is one of Leadership: the world’s lowest cost #1 Copper Producer producers of copper: #2 Moly Producer US¢ 98.2 cash cost** Strong 1Q Financial Performance**: EBITDA : US$2 US$2,750 750 mn EBIDA Margin: 64% Interest Coverage: 30x Ratings: g Moody’s A1 Stable S&P A Stable Fitch A+ Stable DBRS A Stable
Metal Exchanges: London, COMEX and Shangai
’000t
c/lb
500 450 400 350 300 250 200 150 100 50
Stocks
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
Taiwan South Korea Germany Japan USA
20 16 12 8 4
China
Others: 15% India: 3% Brazil 2% Russia: 2%
China
0
India
Brazil
10.000
Russia
GDP per Capita (PPP)
0 India
US$ millions Copper Molybdenum Other Products (wire rod, sulfuric acid, id etc..) t ) Total 3 874 3,874 177 254 4,305 Share 90 0% 90.0% 4.1% 5.9% 100%
20.000 18.000 16.000 14 000 14.000 12.000 10.000 8.000 6.000 4.000 2.000 0 1950
Other Developing Countries
Developing Countries: 39%
2010*
China: 38%
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Kg of Copper / Person
Ministro Hales Division Copper
New York - US Codelco Group Inc.
London - UK Chile Copper Ltd.
Düsseldorf - Germany Codelco Kupferhandel GMHB
El Abra Copper Gabriela Mistral Operation Copper
*: Commercial Subsidiaries.
Santiago Headquarters
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
4
World Leader in the Copper and Molybdenum Industry
Leadership in Copper Reserves
Codelco: 10%
Second Largest Molybdenum Producer
FCX: 15% Codelco: 9%
Long Life Copper Resources
TOTAL MINERAL RESOURCES* (mn of tonnes) Mineral Ore Grade (%) Copper 3,277 , 0.57 18.7 2,584 0.47 12.3 902 0.91 8.2 341 0.53 1.8 5,888 0.78 45.8 4 176 4,176 0 84 0.84 35 1 35.1 553 0.39 2.2 17,721 0.70 124.1
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Copper Prices & Stocks in Metal Exchanges
1.600 1.400 1.200 1 000 1.000 800 600 400 200 0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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5
Fully Integrated and Stable Operations & Diversified Sales
1Q 2011 Sales Breakdown by Product
Source: Codelco
g Resources Co. Wanxiang
Copyrights © 2010 by CODELCO-CHILE. All Rights Reserved.
6
Highlights Industry Overview Operating Performance Financial Review
I L E
Largest company in Chile: Contributes 16% of Chilean government budget *
* Average contribution to Chilean Government Budget from 2006 to 2010 ** As of 1Q 2011
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Consensus about Solid Market Fundamentals
W ld Refined World R fi d Copper C Consumption C ti
‘000 tonnes
32 28
GDP and d Copper C C Consumption ti per Capita** C it **
Ventanas Smelter & Refinery Division
Salvador Division Copper Andina Division Copper El Teniente Division Copper pp
Shanghai - China Representative p Office