Slide 1: The New Leader in Global Copper
The New Leader in Global Copper May 2, 2014 First Quarter 2014
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward looking statements
Slide 3: Phase 1 Smelter - Overview
Phase 1 Smelter - Overview 3
Slide 4: Phase 1 Smelter – Cold Box Lifts – April 2014
Phase 1 Smelter – Cold Box Lifts – April 2014 4
Slide 5: Sentinel - Overview
Sentinel - Overview FIRST QUANTUM
Slide 6: Sentinel – 80 Meter Feed Shuttle Conveyor Truss - April 2014
Sentinel – 80 Meter Feed Shuttle Conveyor Truss - April 2014 6
Slide 7: Sentinel – 80 Meter Feed Shuttle Conveyor Truss - April 2014
Sentinel – 80 Meter Feed Shuttle Conveyor Truss - April 2014 7
Slide 8: Q1 2014 Highlights
Q1 2014 Highlights Increase Production Q1 2014 vs Q1 2013 Production higher in all core metals Copper ('000 tonnes) 113k + 34k Nickel ('000 tonnes) 11.8k + 0.8k Gold ('000 ounces) 60k + 4k Copper C1 Cost 9% lower Nickel C1 Cost 18% lower Reduction in both copper and nickel C1 Costs • Weaker metal pr
Slide 9: Production
Production Pre-acquisition copper production +10% vs Q1 2013 Pre-acquisition operations higher with increased production at Kansanshi despite an unusually harsh wet season A full quarter contribution from acquired operations of 30k tonnes Nickel production +7% vs Q1 2013 Ravensthorpe higher throughp
Slide 10: Copper C1 Cost
Copper C1 Cost Lower cost acquired operations driving Group lower on comparative quarter Pre-acquisition C1 Cost similar to Q1 2013 Kevitsa lower processing costs and higher production Kansanshi operating costs lower partially offset by higher treatment charges as lower volumes of concentrate were s
Slide 11: Nickel C1 Cost
Nickel C1 Cost Ravensthorpe processing efficiencies and weaker Australian Dollar driving Group lower Nickel C1 Cost 18% lower vs Q1 2013 Ravensthorpe $1.34/lb lower vs Q1 2013 Processing efficiencies mainly from maintenance and operational improvements Lower cost sulphur Weaker Australian Dollar Kev
Slide 12: Financial Overview
Financial Overview Comparative EBITDA in line with Q1 2013 and prior quarter despite weaker metal prices $ million Q1 2014 Q1 2013 Q4 2013 Revenue 891 901 897 (1) Gross Profit before fair value adj 308 323 350 Gross profit before fair value adjustments 4% lower vs Q1 2013 Gross Profit 282 310 319 Lo
Slide 13: Gross Profit
Gross Profit Lower prices and sales offset by cost savings and contribution from acquired operations Lower acid consumption at Kansanshi; processing Lower copper and gold sales at pre-acquisition efficiencies, lower sulphur cost and a weaker operations, higher nickel sales Australian Dollar at Raven
Slide 14: Quarterly Net Debt Movement
Quarterly Net Debt Movement Opening Net Debt at start of Quarter ($m) (3,295) EBITDA 364 Working capital (171) Taxes paid (97) Capital expenditure (588) Net interest paid(1) (46) ENRC principal & interest (2) 125 Other (20) Net cash (debt) movement (433) Closing Net Debt at end of Quarter ($m) (3,72
Slide 15: 2014 Market Guidance
2014 Market Guidance Production guidance unchanged; all mines in line with expectation Copper production(1) Nickel production Gold production 418 – 444k tonnes 42 – 47k contained tonnes 221 – 246k ounces Zinc production Palladium & Platinum 59 – 65k tonnes 22 – 24k ounces (each) Copper C1 Cost guida
Slide 16: The New Leader in Global Copper
The New Leader in Global Copper May 2, 2014 First Quarter 2014