Antofagasta Plc · LSE:ANTO
Antofagasta — Investor Presentation (December 2010)
108 slides from Antofagasta's investor presentation, Dec 16, 2010
Slide 1: Analyst trip to Chile - CEO Presentation
Analyst trip to Chile - CEO Presentation 13 16 December 2010
Slide 2: Index
Index I. Strategic Plan 2009 - 2015 II. Market 1. Refined Copper 2. Copper Concentrate 3. Gold 4. Molybdenum III. Production & Financial Performance IV. Challenges 2011 1. Michilla 2. Antucoya 3. Sierra Gorda District 4. Nokomis 5. Reko Diq V. Exploration VI. Conclusion 2
Slide 3: I. Strategic Plan 2009 - 2015
ANTOFAGASTA @ PLC I. Strategic Plan 2009 - 2015
Slide 4: Delivering on strategy for profitability and growth
Delivering on strategy for profitability and growth Strategic Plan 2009 - 2015 Major copper producer with existing low-cost operating base in Chile 3. Growth beyond the Core Business Copper production to increase nearly 60% from 2009 to 2. Organic & sustainable growth of 2011e, providing low cost an
Slide 5: II. Market
ANTOFAGASTA @ PLC ll. Market
Slide 6: Refined copper market
Refined copper market Continued strength in copper demand to date in 2010 Copper price and exchange inventories Clear trend since March in the reduction in visible inventories by 158k to date 35 2010 400 R unning 30 A verag e 350 Chinese total copper imports at similar E xch an g e in v en to ries (
Slide 7: Copper concentrates market
Copper concentrates market Fundamentals remain unchanged, with the concentrates market in continued deficit Market balance and terms Further increase in smelter capacity announced in China and India 40 Market balance ('000 tonnes contained Cu) 30 Mid-year benchmark at record low 700 20 (Combined dis
Slide 8: Molybdenum market
Molybdenum market Molybdenum price and market balance Market fundamentals remain strong driven by recovery in the stainless steel market 60 40 Market balance (m lbs) 35 China remains a net importer, though not 50 Nominal price (US$/lb) at the exceptional levels of 2009 30 Market balance (m lbs) 40 2
Slide 9: Gold market
Gold market Growing demand from investors as US dollar weakens Central banks in emerging countries growing gold Gold price and 10Y TIP positions to diversify from weakening US dollar. In developed countries, net sales from central banks are over 1500 0,0 Gold (left) 10Y TIP (right, inverted) Retail
Slide 10: III. Production & Financial Performance
III. Production & Financial Performance
Slide 11: Production profile of the Core Business
Production profile of the Core Business (1) 707 Total: 442,500 tonnes 530 Los Pelambres 478 311.6K 465 442 428 El Tesoro 90.2K Michilla 40.6K 2006 2007 2008 2009 2010E 2011E-2015E annual average (1) Represents production from Los Pelambres, El Tesoro and Michilla up to 2010 and includes Esperanza fr
Slide 12: Cash cost profile
Cash cost profile 2009 copper cost curve (Ranked by C1) Realised copper price and cash cost 350 300 330 327 302 250 267 271 Cost (c/lb Paid Cu) 200 185 150 129 120 127 Antofagasta 111 100 96 85 92 50 87 96 40 32 Source: Brook Hunt, a Wood MacKenzie company 14 0 - 2,000 4,000 6,000 8,000 10,000 12,00
Slide 13: Financial performance
Financial performance Turnover (US$m), EBITDA (US$m) and EBITDA margin (%) 7.000 76% 74% 6.000 68% 62% 5.000 56% 57% 3,870 3,827 4.000 3,373 3,169 2,957 2,824 2,963 3.000 2,445 1,900 1,957 2.000 1,674 1,681 1.000 0 2005 2006 2007 2008 2009 YTD Sep-10 Turnover (US$m) EBITDA (US$m) EBITDA/Turnover (%)
Slide 14: IV. Challenges 2011
ANTOFAGASTA @ PLC IV. Challenges 2011
Slide 15: Michilla
Michilla 2010e production of 40,000 tonnes, similar to 2009, and 2010e cash costs of approximately 180 cents Recategorization of reserves and engineering plan expected to extend the base case until 2015 Exploration plan to extend the mine life to 2018 15
Slide 16: Antucoya
Antucoya !. Resources of 1.5 billion tonnes @ 0.27% copper .! Oficina Maria Elena !. Michilla .! Oficina !. Pedro !. de Valdivia Feasibility study for stand-alone project expected to be !. ! .! !. Antucoya completed by mid-2011 !. !. !. Potential SX-EW operation: Mejillones !. !. .! !. Estimated pro
Slide 17: Sierra Gorda District
Sierra Gorda District Mineral resource estimates completed at Télegrafo and Caracoles following successful exploration Combined estimate of 3.7 billion tonnes at 0.40% Sierra Gorda Tesoro Mirador copper, with gold and molybdenum credits Esperanza Telégrafo Represents a 25% increase on 2009 Group ton
Slide 18: Nokomis copper-nickel-platinum deposit
Nokomis copper-nickel-platinum deposit Definitive agreement in July 2010 with Duluth Metals to acquire an interest in Nokomis, a base Nokomis and precious metals project located in NE Minnesota, creating the JV company Twin Metals Minnesota 7% interest in Duluth Metals shares acquired Initial 40% in
Slide 19: Reko Diq copper gold project
Reko Diq copper gold project 37.5% effective interest in joint venture with Barrick Gold Corporation and Government of Baluchistan 2009 resource estimate of 5.9 billion tonnes (at interest is 2.2 billion tonnes) Work on feasibility, environmental and social studies completed. Feasibility study submi
Slide 20: V. Exploration
ANTOFAGASTA @ PLC V. Exploration
Slide 21: Geographical locations
Geographical locations USA Exploration Pyramid Agreement with Fullmetals Minerals Ltd. United Kingdom: Registered office, London Eritrea Exploration USA Exploration Asmara: Agreement with Spain Exploration Sunridge Gold Corp Nokomis: Agreement with Duluth Metals Ltd. La Zarza: Agreement with Ormonde
Slide 22: Exploration and future potential
Exploration and future potential Active exploration and evaluation programme in Chile and abroad, with US$39 million* spent in 2010 H1 Grassroots exploration in Chile, in addition to Core Business areas, both directly and through earn-ins Expanding portfolio of early-stage international interests Eu
Slide 23: VI. Conclusion
ANTOFAGASTA @ PLC Vi. Conclusion
Slide 24: Conclusion
Conclusion Significant producer of copper and molybdenum, with increased gold exposure from 2011 Esperanza start up and Completion Testing should be completed in 2011 Feasibility study for Antucoya stand-alone project expected to be completed by mid-2011 Pre-stripping at Mirador is expected to be co
Slide 25: Analyst trip to Chile - Esperanza Copper, Gold Project
Analyst trip to Chile - Esperanza Copper, Gold Project 13 December 2010
Slide 26: Contents
Contents Company overview the Esperanza copper-gold project Project status major achievements Future development significant growth potential
Slide 27: Company overview
Company overview Esperanza Copper Gold Project December 2010
Slide 28: Minera Esperanza
Minera Esperanza Esperanza is a greenfield copper-gold project located 30 km (19 mi) region. During its first 10 years of operation, Esperanza is expected to produce over 191.000 tonnes of copper in concentrate annually, and over construction was initiated in mid-2008, and start-up of commercial ope
Slide 29: Sustainability and innovation
Sustainability and innovation Sustainability a key concept since the earliest stages of the project One of the most relevant elements of the project is the exclusive use of sea water in all of its process. Water will be pumped through a 145 km (90 mi) pipeline running from the Pacific coast to the p
Slide 30: History highlights
History highlights Antofagasta Minerals acquires the mining 1993 property from Anglo American Discovery and exploration of an important Cu/Au 1999 porphyry deposit 2004 Pre-feasibility and feasibility study 2005 2006 Antofagasta Minerals approves the development of the project 2007 EIA approved Cons
Slide 31: Project status
Project status Esperanza Copper Gold Project December 2010
Slide 32: Project highlights
Project highlights Pre-stripping completed Commissioning activities underway Outstanding safety record Excellent labor relations Full compliance with environmental and social commitments First concentrate production expected in December 2010
Slide 33: Esperanza site overview
Esperanza site overview Mine area ◄ Primary crusher ◄ Overland conveyor belt Truck shop ► Camp & office facilities Plant area Thickened tailings deposit
Slide 34: Pre-stripping completed
Pre-stripping completed in a shorter term, with significant savings, and without LTA* Completed 154.4 Mton * LTA = Lost Time Accidents July 21, 2010
Slide 35: Dry area
Dry area Crusher Conveyor Belt Stockpile Stockpile Nov 30, 2010 236 kton (100%) 0.61% CuT 0.37 g/t Au
Slide 36: Grinding
Grinding SAG & Ball Mills eo
Slide 37: Flotation
Flotation
Slide 38: Tailing thickeners
Tailing thickeners ANTOFAGASTA PLC
Slide 39: Water & concentrate transport
Water & concentrate transport Sea water flow Pumping station #3
Slide 40: Port (onshore facilities)
Port (onshore facilities) Concentrate thickener Concentrate storage bldg. Filter plant Emergency pond
Slide 41: Port (offshore facilities)
Port (offshore facilities) Sa | wv, @ Ao
Slide 42: Power lines
Power lines S/E Encuentro Substations (S/E) Pumping Stations (EB) Cities EB 2 1x23 kV line EB 1 EB 3 18 km ESPERANZA PORT S/E El Tesoro 1x110 kV line 105 km EB 4 S/E Esperanza 1x220 kV line 12 km S/E Chacaya 2x220 kV line 82 km S/E Laberinto S/E El Cobre
Slide 43: Outstanding safety record
Outstanding safety record Over 37 million continuous man-hours of work to date. 6,0 Frequency Rate (FR) Number of LTA / million man-hours worked Peak manpower of 13.000 people including 5,0 4,9 = Industry Average (2008-2009) company personnel and contractors. 4,0 Low Frequency Rate and Severity Inde
Slide 44: Labor relations creating opportunities
Labor relations creating opportunities Excellent labor relations both with employees and contractor workers. High rate of local employees (60%). High rate of female employees (14%). Extensive apprenticeship program responds to community requests identified during EIA.
Slide 45: Building a strong and dedicated workforce
Apprenticeship program for mine & plant operators and maintenance personnel Mine Plant Apprentices trained 159 Apprentices trained 65 Currently training 48 Currently training n/a % local apprentices 88% % local apprentices 100% % female apprentices 19% % female apprentices 9% “Building a strong and
Slide 46: Esperanza funding structure
Esperanza funding structure Shareholders Sponsors 70% 30% Shareholder Funding Banks Lenders US$ 2.5 bn Senior Loan ECAs US$ 1.05 bn
Slide 47: Awards
Awards Avonni 2009, awarded by Foro Special Honor, Benjamín Teplizky Award Best Peer Health and Safety Committee Innovación, TVN, El Mercurio, Ministry August 2009 August 2009 of Economy, and the CPC. Project Finance International “Mining Deal of the Year” (Jan 2010) Best Work Practices Program Proj
Slide 48: Future development
Future development Esperanza Copper Gold Project December 2010
Slide 49: Substantial growth opportunities
Substantial growth opportunities Extensive geological resource base. Positive metallurgical Mo testwork results. Good Mo recovery (70%) Good Mo concentrate grades (50%) Commercially acceptable product Esperanza Telégrafo 0.20 – 0.35 CuEq (%) 0.35 – 0.50 CuEq (%) > 0.50 CuEq (%)
Slide 50: Analyst trip to Chile - Minera Los Pelambres
Analyst trip to Chile - Minera Los Pelambres 13 December 2010
Slide 51: Table of Contents
Table of Contents The Company New Strategy Performance
Slide 52: Location
Location Minera Minera El Tesoro Michilla Minera Esperanza Minera Los Pelambres
Slide 53: Operational Process
Operational Process Crushing Two primary Conveyor Mine crushers Tunnel Plant 12.6 km 175 ktpd Tailings Pipeline Concentrate 50 km Pipeline 120 km Mauro Quillayes Tailings Dam Tailings Dam Port 1,700 million ton 380 million ton Reclaim Water Pipeline 60 km (900 L/s)
Slide 54: Ownership
Ownership United Kingdom Chile Japan 60% 5% Mitsubishi Corp. 10% Mitsubishi Materials 15% Nippon Mining 8.75% Marubeni Antofagasta plc 1.25% Mitsui
Slide 55: Table of Contents
Table of Contents The Company New Strategy Performance
Slide 56: To face its new challenges, the company proposes a new target
To face its new challenges, the company proposes to adopt a new target Target function Value Add sustainable value Add economic value EVA Production and cash cost (C1) 1990 2000 Today 2020 The environmental and social dimensions are now part of the target function
Slide 57: MLP as a system recognizing stakeholder contributions
…which considers MLP as a system that must recognize the contribution of its stakeholders to generate value Shareholders Communications Contractor Companies Media / Suppliers Government NGOs Employees Collaborators Academic World Communities Trade Clients Organizations Recognizing the contributions
Slide 58: Mission of MLP
Mission of MLP ADDING SUSTAINABLE VALUE MAKING RESOURCES FEASIBLE EXCELLENCE IN WHAT WE DO EFFECTIVE ORGANIZATION RELATIONS FOR MUTUAL IN INNOVATIVE WAYS BENEFIT MISSION VALUES VISION - PURPOSE Maximizing the generation of sustainable value for the system made up of all of the company’s stakeholders
Slide 59: Table of Contents
Table of Contents The Company New Strategy Performance
Slide 60: Social
Social Best Sustainability Report in Chile Launching of the Gabriela Mistral Anthology on 2007- 2009 International Book Day Magister in Mining Management for employees. Road and Traffic Safety Campaign Minera Los Pelambres Scholarships
Slide 61: Environmental Management
Environmental Management Reforestation Closing of Quillayes Tailings Dam Archeological Management Plan Dust Control Waste Management
Slide 62: Production
Production 0.81 0.80 (as of Sept’10) 0.77 % 0.76 0.74 0.71 333 336 301 351 324 400 Ktons 2005 2006 2007 2008 2009 2010 E CuF (ktmf) Copper Grade 9,847 10,156 9,200 tons 8,710 7,759 297 7,229 277 225 (as of Sept’10) 191 193 189 ppm 2005 2006 2007 2008 2009 2010 E Mof Mo Grade
Slide 63: Financial Performance
Financial Performance 340 333 ¢/lb 328 278 247 188 3.012 2.845 2.298 2.157 2.379 US$ mill 1.961 2005 2006 2007 2008 2009 Sept. 2010 Operating Income Cu Accounting Price 2,322 Sales distribution 2,207 1,628 US$ mill 1,457 9.3% 1,370 1,352 88.8% 2005 2006 2007 2008 2009 Sept. 2010 Copper Molybdenum Si
Slide 64: Cash Cost Competitiveness
Cash Cost Competitiveness 2010 Copper Mine Cost League: Flexed Data C1 Cash Cost (c/lb Cu) Minera Los Pelambres 2010 15% Source: Brook Hunt – A Wood Mackenzie Company 2010
Slide 65: Final Phase of IDP Start-up Process
Final Phase of IDP Start-up Process Ktpd Ore Throughput 200 180 175 160 137 140 126 120 110 100 85 80 2000 2002 2004 2006 2008 2010 2012 2014 Ktmf 550 500 Existing mine plan includes ore reserves of 1.5 billion 450 tonnes 400 350 Total mineral resources of 6.2 billion tonnes @ 300 0.52% copper plus
Slide 66: Areas involved in Final Phase of IDP
Areas involved in Final Phase of IDP Mine Conveyor Belt - Stockpile Grinding Molybdenum Plant Flotation Cu – Tailings Thickeners Tailings System (28’’) Concentrate Pipeline Port
Slide 67: Analyst trip to Chile - Minera El Tesoro
Analyst trip to Chile - Minera El Tesoro 13 December 2010
Slide 68: El Tesoro Location - Chile
Location - Chile Sierra Gorda Minera El Tesoro is 21 km located at about 21 km east of Sierra 190 km EL TESORO Gorda, about 190 km Antofagasta to the Northeast of Antofagasta and 1,570 km North from Santiago.
Slide 69: El Tesoro Shareholders & Processes
Shareholders & Processes Sources of Copper: - Tesoro Central open pit - Tesoro Noreste open pit - ROM - Mirador Crushing Plant Antofagasta Marubeni (Primary/Secondary/Tertiary) Minerals 70% 30% Leaching (Height of heap leach: 2,5 mts) Tailings Stacking EL TESORO Solvent Extraction & Electro winning
Slide 70: 2010 Performance
2010 Performance December 2010
Slide 71: 2010 Performance: safety
2010 Performance Historical safety performance: FI: 0.5 / TFI: 3.5 / LTA: 2 TNE preventative suspension due to geomechanical review Solved restriction for wells extraction 9 Safety indicators 25,0 8 19,5 20,0 7 6 15,4 15,0 5 4 9,1 10,0 3 6,6 6,0 2 5,0 1 3,5 8 7 4 8 7 2 0 0,0 2005 2006 2007 2008 2009
Slide 72: 2010 Performance: copper production
2010 Performance Copper production in line with revised budget (90 kton) Successful re-opening of TNE operations. Water supply for ROM project is assured. Annual production 102.905 82.933 67.532 68.556 93.040 90.772 90.196 86.862 2007 2008 2009 2010 YTD Copper production (tCuf) Pit extraction (kTMS)
Slide 73: Mirador ROM TNE
Mirador ROM TNE Tesoro Central Mirador - Acquisition and Financing completed Pre-stripping started late November 2010 Production expected to commence in 4Q 2011
Slide 74: Development Strategy
Development Strategy December 2010
Slide 75: Tesoro Base Case
Tesoro Base Case 100 90 120 80 70 60 Ton Cuf 231 50 40 533 30 20 10 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Cobre Fino MET Cobre Fino Mirador Cobre Fino ROM
Slide 76: Guidelines for the future
Guidelines for the future 1 Explorations & Feasibility Studies • Improve access to resources information and district planning; coordination with projects team to generate business cases additional to the sulphur projects 2 Operational Flexibility • Solve bottle necks and review operational & manage
Slide 77: Future Challenges
Future Challenges EW at MC Available capacity at EW plant 100 100 90 90 120 Llano/Paleocanal 80 80 Sierra Gorda District Opportunities: 70 70 • Telegrafo • Caracoles 60 60 Ton Cuf • Others. 50 50 40 40 231 30 30 533 20 20 10 10 00 2010 2010 2011 2011 2012 2013 2012 2013 2014 2014 2015 2015 2016 2016
Slide 78: Social & Environmental Performance
Social & Environmental Performance Ranked 18th in Social Responsibility Presidential Recognition Earthquake reconstruction activities Best Work Practices and Gender Equality
Slide 79: Analyst trip to Chile Antucoya Project
Analyst trip to Chile Antucoya Project 13 16 December 2010
Slide 80: Overview
ANTOFAGASTA @ PLC Overview
Slide 81: Antucoya Project is part of the Group growth strategy
Antucoya Project is part of the strategy for growing the Antofagasta Group Strategic Pillars 2009 - 2015 Scope • Search for high potential early stagee mining base: – Chile (outside Sierra Gorda and Los Pelambres 3. Growth beyond the Core districts) Business – International • Reko Diq • Nokomis • Ge
Slide 82: Antucoya Project Location
Antucoya Project Location Key Aspects Excellent location. Access by 3 alternative routes. Power Transmission Lines at 23 km from site. Access to 3 regional Port infrastructure: Antofagasta (200km) Mejillones (140km) Michilla Terminal (55km) Synergy with existent Antofagasta Group Infra
Slide 83: General Site View
General Site View West View East View from “Cerro Mirador”
Slide 84: Antucoya Project Overview
Antucoya Project Overview 80,000 tons of fine copper from conventional open pit operation. Conventional primary, secondary and tertiary crushing line. 30,000,000 tons per year to crushing and 125,000 tons per day as mine movement. Dynamic heap leach area and dump leach & Conventional SX-EW pla
Slide 85: Feasibility Study Strategy
Feasibility Study Strategy Test Pit Development (Trepsa-Cerro Alto) EID & Permiting Leaching Industrial For Industrial Test Work Test Work (GAC, B&B) Industrial Geotechnical and (Minera Michilla) Blasting Test Work (Arcadis, Enaex, Cerro Alto) Geological Model Update (SRK) Trade Offs & Value Enginee
Slide 86: Road Map
Road Map 2010 2011 2012 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Value Engineering Industrial Test Work EIA EIA Process Feasibility Study Expert Capex review Project Execution Plan Project Operation Plan Independent Review Inter-Stage-FEL 3 Financing analysis Project Fin
Slide 87: Geology
ANTOFAGASTA @ PLC Geology
Slide 88: Main Deposit Characteristics
Main Deposit Characteristics Relevant Aspects Cu Porphide from cretaceous age with copper grade < 0.50% CuT. The “Buey Muerto” Porphide is 1.9 km. long by 1.6 km. wide. Mineralization presents oxidation to 350 meters depth. Over 100.000 metres of drillings. Over 1 Billion tonnes @0.3 Total
Slide 89: Typical Deposit Section
Typical Deposit Section ANDESITAS Teeho de sulfuros oxIDOs BRECHAS DE IGNEA GRAVAS ANDESITA PREMINERSL PORFIDO PRINCIPAL gf SN ANTOFAGASTA a Pic GRAVAS CON MINERALIZ, EROTICA DE COBRE OxIDGS DIQUES TARDIOS
Slide 90: Phase 1, 2 and 3 (First 5 years)
Phase 1,2 and 3 (First 5 years) 1490 1490 1415
Slide 91: Phase 9 (Final Pit)
Phase 9 (Final Pit) 1295 1355 1325 1355 1295
Slide 92: Heap - Rom 80.000 TMF Annual Plan
Heap - Rom 80.000 TMF Annual Plan
Slide 93: Engineering
ANTOFAGASTA @ PLC Engineering
Slide 94: Project Layout
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Slide 95: Main Supplies
Main Supplies Sulfuric Acid (700.000 tpy) 100% Truck: Mejillones Terminal – Mititus – Antucoya Water (270 l/seg) Power (45Mw) 7 km Aqueduct from Pump 28 km of 220 Kv. line, from existing Station EB3 of Minera Esperanza line of Transelec or Edelnor
Slide 96: Industrial Test Work
ANTOFAGASTA @ PLC Industrial Test Work
Slide 97: Schematic Representation of Test Work
Schematic Representation of Test Work SITE ANTUCOYA Geotechnical, Geological, Ore Stock Drilling & Blasting, Pit 1,5 M t parameters Ore movement to Michilla 2 ktpd Camp, offices and workshops MINERA MICHILLA ROM Ore Stock Michilla ROM + Primary Crush SX Heap 1 Heap 2 EW Cu Recovery, Metallurgy, Heap
Slide 98: Industrial Test Work
Industrial Test Work Test Pit AMSA Executives at Test pit Antucoya Heap Leach Test Area at Michilla
Slide 99: Ore Stock for testing at Minera Michilla
Ore Stock for testing at Minera Michilla
Slide 100: Crushed Ore Stacking for Testing
Crushed Ore Stacking for Testing
Slide 101: Testing Heap Leach Area at Michilla
Testing Heap Leach Area at Michilla
Slide 102: Irrigation System for Heap Leach at Michilla
Irrigation System for Heap Leach at Michilla
Slide 103: Solutions Flow in Heap Leach Area at Michilla
Solutions Flow in Heap Leach Area at Michilla
Slide 104: Preliminary Results of Test Work
Preliminary Results of Test Work Good Cu Recovery Less Sulfuric Acid Consumption 13 Heap Leach is testing 11 HL will be test next month • Projected 100% of • Acid consumption < 18 kg/t, Soluble Cu Recovery Slightly less than used for Pre feasibility. Good Crushing Better Kinetics • Best results usin
Slide 105: Environmental & Social Sustainability
Environmental & Social Sustainability
Slide 106: Environmental Issues
Environmental Issues Absence of reptiles and micro mammals Presence of Birds: Catarthes aura (Jote de cabeza roja) and Larus modestus (Gaviota garuma). Larus modestus, 2 nesting adults were viewed, Species labeled as Vulnerable. 4 low relevance archeological point was finding in 2010 campaign.
Slide 107: Community Engagement
Community Engagement In accordance with Antofagasta policies and standards about dialogue and transparency, the Antucoya project included, at an early stage, a voluntary anticipated plan of social dialogue and interaction with authorities, to foster and facilitate project development. This anticipat
Slide 108: Antucoya, a good business for Antofagasta
Antucoya, a good business for Antofagasta 1,6 Mton of Cuf 80.000 tpa Cuf LOM 19 years Low Social & Environmental Impact • Nearest community at 45 km • No underground water Synergy with • No relevant archeology Existing Assets • Good Logistic infrastructure • EB3 ESP at 7 km. • 100% Sea water Signifi