Mine to Market - Ernest Henry Mining
Mine to Market - Ernest Henry Mining
Mine to Market - Ernest Henry Mining
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2 : mine <strong>to</strong> market<br />
Steve de Kruijff<br />
WELCOME<br />
As you would all be aware, the current unprecedented global financial crisis is<br />
severely impacting most industries, including the resources industry. While Xstrata<br />
as a company is well positioned <strong>to</strong> weather the <strong>to</strong>ugh times ahead, the turmoil in<br />
financial markets coupled with a high cost environment and substantially lower<br />
commodity prices presents us with significant challenges. At our north Queensland<br />
operations, we need <strong>to</strong> take a set of deliberate, measured responses <strong>to</strong> optimise<br />
the cashflow from our operations and <strong>to</strong> ensure that our businesses remain<br />
sustainable in the longer term. Over the coming months we will be initiating a<br />
number of cost improvement and strategic business initiatives <strong>to</strong> ensure that our<br />
north Queensland Copper and Zinc operations meet these objectives.<br />
Water conservation remains a key focal point for our north Queensland operations.<br />
The low rainfalls recorded during the 2007/2008 north west Queensland wet<br />
season have required us <strong>to</strong> implement new initiatives <strong>to</strong> find large-scale water<br />
savings within our operations. Therefore we must remain committed <strong>to</strong> doing<br />
everything we can <strong>to</strong> reduce our fresh water usage and <strong>to</strong> maximise our recycled<br />
water usage in order <strong>to</strong> meet our future 30% reduction target if the water levels<br />
continue <strong>to</strong> decline. We also encourage you <strong>to</strong> do your bit, both at work and at<br />
home, <strong>to</strong> conserve this precious resource. We thank you for contributing your<br />
water-saving initiatives as part of our internal campaign <strong>to</strong> reduce water and hope<br />
you continue <strong>to</strong> do so. Please refer <strong>to</strong> page three for an overview of our<br />
water-saving initiatives throughout our north Queensland operations.<br />
During Oc<strong>to</strong>ber, George Fisher <strong>Mine</strong>’s $10 million KG53 underground incline/<br />
decline project, which now links George Fisher North and South, was successfully<br />
completed. This project is a significant step for Xstrata Zinc’s mining operations in<br />
Mount Isa and we congratulate all those involved in completing this project<br />
successfully and ahead of schedule.<br />
You will notice that we have included a publications survey inside this edition.<br />
We value your opinion and want <strong>to</strong> know what you, as employees and<br />
stakeholders of Xstrata North Queensland, think of our two key publications –<br />
<strong>Mine</strong> <strong>to</strong> <strong>Market</strong> newsletter and the annual Sustainability Reports. We encourage<br />
you all <strong>to</strong> take the time <strong>to</strong> fill out this survey so we can better understand your<br />
expectations and ensure our publications continue <strong>to</strong> meet your needs.<br />
By completing the survey, you have the chance <strong>to</strong> win one of five 8GB Apple<br />
iPod Nanos. For more information and your chance <strong>to</strong> win, please refer <strong>to</strong> the<br />
enclosed survey.<br />
Kevin Hendry<br />
STEVE DE KRUIJFF<br />
CHIEF OPERATING OFFICER<br />
Xstrata Copper North Queensland<br />
KEVIN HENDRY<br />
EXECUTIVE GENERAL MANAGER<br />
Xstrata Zinc Mount Isa<br />
4,500<br />
10%<br />
FRONT COVER<br />
Monica Thomas, Senior Training Advisor,<br />
Mount Isa Copper Operations.<br />
CONTACT THE EDITOR<br />
Input from all Xstrata North Queensland operations<br />
is invited. Any articles, innovations, achievements,<br />
ideas or suggestions are very welcome. Please contact<br />
Catherine Peters, Community Relations, Mount Isa <strong>Mine</strong>s<br />
on email: cpeters@xstratacopper.com.au<br />
or phone: 4744 3140.<br />
XSTRATA STOCK PRICE<br />
Xstrata is listed on the London and Zurich<br />
s<strong>to</strong>ck exchanges. As at 7 November 2008<br />
the Xstrata share price on the London<br />
S<strong>to</strong>ck Exchange (XTA.L) was 10.22 (GBp).<br />
Price (p)<br />
Volume (m)<br />
4,000<br />
3,500<br />
3,000<br />
2,500<br />
2,000<br />
1,500<br />
1,000<br />
20<br />
10<br />
May-2008 Jul-2008 Sep-2008<br />
0%<br />
-10%<br />
-20%<br />
-30%<br />
-40%<br />
-50%<br />
-60%<br />
-70%<br />
-80%<br />
Xstrata PLC<br />
Percentage<br />
Date