2012 Half Year Results Presentation - Antofagasta plc

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Production and realisedprices analysis – 2012 H1Copper, molybdenum and gold productionRealised copper (c/lb), molybdenum(US$/lb) & gold price (oz/lb)2010 2011 2012 H1 2012 E2012 EInitialUpdatedCopper (‘000 tonnes)Los Pelambres 384.6 411.8 197.2 390 390 **Esperanza - 90.1 68.2 170 * 160 *El Tesoro 95.3 97.1 52.7 100 100 ***Michilla 41.2 41.6 18 40 40Group total 521.1 640.5 336 700 700Molybdenum (‘000 tonnes)Los Pelambres 8.8 9.9 6.5 11.0 11.0Gold (‘000 ounces)Los Pelambres 35.1 39.8 26.3 28 40Esperanza - 157.1 109.8 252 * 240 *Group total 35.1 196.8 136.1 280.0 280.0Copper 2010 2011 2012 H1Los Pelambres 371.7 371.1 373.4Esperanza - 354.7 372.5El Tesoro 351.9 391.2 370.4Michilla 263.8 381.6 377.2LME price 342.0 399.7 367.3MolybdenumLos Pelambres 16.2 15.1 12.9Market price 15.7 15.5 14.0GoldLos Pelambres 1,236.5 1,610.6 1,638.8Esperanza - 1,643.4 1,653.2Market price 1,226.3 1,572.0 1,651.3* Current expectations are for 2012 FY copper and gold production to be approximately 160k tonnes and 240k ounces respectively.The initial 2012 FY forecasts had been for a range of between 160-175 k tonnes of copper and 240-260k ounces of gold.** Current expectations are for 2012 production to be in slightly in excess of 390,000 tonnes*** Current expectations are for 2012 production to be in slightly in excess of 100,000 tonnes32
Cash cost (c/lb)Cash cost analysis – 2012 H12010H12011H12012 H12012 E2012 EInitialUpdatedLos Pelambres 68.1 75.2 77.3 90.0 90.0Esperanza - 121.9 60.1 60.0 75.0El Tesoro 146.6 183.0 156.9 160.0 160.0Michilla 180.4 192.5 313.9 285.0 310.0Group weighted average net of by-products91.5 105.6 98.9 105.0 110.0Group weighted average (beforededucting by products)126.5 157.8 160.8 165.0 165.0Los Pelambres cash cost (c/lb)2010H12011H12012 H12012 E2012 EInitialUpdatedOn-site and shipping 98.4 112.0 121.1 123.0 123.0Tolling charges 17.4 18.8 16.1 17.0 17.0Before by-product credits 115.8 130.8 137.2 140.0 140.0By-product credits (47.6) (55.5) (59.9) (50.0) (50.0) *After by-product credits 68.1 75.2 77.3 90.0 90.0Esperanza cash cost (c/lb)2011 H1 2012 H12012 E2012EInitialUpdatedOn-site and shipping 255.3 174.3 178.0 183.0Tolling charges 15.5 17.50 17.0 17.0Before by-product credits 270.8 191.8 195.0 200.0By-product credits (148.9) (131.7) (135.0) (125.0) *After by-product credits 121.9 60.1 60.0 75.0* By-product credit forecasts are based on an average gold price of $1,650 per ounce and a molybdenumprice of US$11 per lb in H2 201233
Page 1: 2012 Half Year Results Presentation
Page 4 and 5: Operational Results
Page 6 and 7: Esperanza• H1 2012 production of
Page 8 and 9: Pricing environment and outlook500L
Page 10 and 11: Financial highlights2012 H1 2011 H1
Page 12 and 13: Net income reconciliationNet income
Page 14 and 15: Consistently strong capitalreturnsD
Page 16 and 17: Growth opportunitiesGroup explorati
Page 18 and 19: Centinela Mining District(formerlyS
Page 20 and 21: Los Pelambres• Total mineral reso
Page 22 and 23: Conclusion• Strong operational pe
Page 24 and 25: Brief History1888Antofagasta Railwa
Page 26 and 27: Our business and strategy3. Growth
Page 28 and 29: Chile: OperationsGeographical locat
Page 30 and 31: Debt analysis (US$mUS$m)2,366492965
Page 34 and 35: Purchased ore2%Spare parts5%Sulphur
Page 36 and 37: Cash cost analysis2011 H1 vs. 2012
Page 38 and 39: Realised pricesand mark-toto-market
Page 40 and 41: Operations and projectsLos Pelambre
Page 42 and 43: Chile’s Antofagasta RegionTranspo
Page 44 and 45: Copper concentrates market• The p
Page 46 and 47: Reserves and resources(at 31 Decemb
Page 48 and 49: Antofagasta contactsLondon(Antofaga

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