Codelco Investment Plan
Codelco Investment Plan
2012
Project Vice-Presidency
CODELCO INVESTMENTS 2011
Investment Projects (*)
est e t
ojects ( )
US$ 1.835 Bn
US$
835
Mine development expenses costs
US$ 670 M
Project contribute to business
US$ 40 M
TOTAL CODELCO 2011
US$ 2.545 Bn
(*)
Project Portfolio
( )
Project Portfolio
managed by VP
US$ 1.022 Bn
VP INVESTMENT PLAN 2011 ACHIEVEMENTS
Completed Projects
p
j
(US$ M currency 2011)
(
y
)
MH
EARLY
WORKS
150
RÍO
BLANCO
DIVERSION
TUNNEL
160
WATER FLOW REGULARISATION (ANDINA)
95
•
With these projects, operations received assets totalling US$ 405 M
WATER
FLOW
REGULARISATION
(ANDINA)
95
VP INVESTMENT PLAN 2011 ACHIEVEMENTS
Progress at Key Projects
Progress at Key Projects
Ministro Hales Project
j
Stage: Investment Implementation
April: Started world’s largest
p
g
pre-stripping
p
pp g
operation.
p
August: Completed early works.
August: Awarded first civil engineering contract.
Chuquicamata Underground Mine Project
Stage: Feasibility+ Early works implementation
Progress on feasibility stage.
August: Early works approved by Board.
October: Positive recommendation by Cochilco – Mideplan on early
y
p
y
works and start-up operations.
VP INVESTMENT PLAN 2011 ACHIEVEMENTS
Progress at Key Projects
Progress at Key Projects
Andina Expansion 244 Project
p
j
Stage: Feasibility
Progress on early works of projects. Acid Water Treatment (TADA)
and Node 3.,00.
August: Surface rights agreements for concentrator plant and other
facilities.
New Mine Level Project – El Teniente
St
I
t
t I
l
t ti
Stage: Investment Implementation
March: Environmental Impact Assessment (EIA) approval.
J l
I
t
t i
l
t ti
t
d b th B
d
July: Investment implementation stage approved by the Board.
Progress on early works (Confluence platforms).
VP INVESTMENT PLAN 2011 ACHIEVEMENTS
Progress at Key Projects
Progress at Key Projects
RT Sulphide Mine - Phase II Project
Stage: Feasibility
Stage: Feasibility
August: Started Prefeasibility Stage.
Decision to double mineral treatment capacity at concentrator plant,
S
O
p
y
p
that will use desalinated seawater.
December: End of Prefeasibility Stage.
San Antonio Oxides Project
Stage: Feasibility
J l
St t d F
ibilit St
July: Started Feasibility Stage.
September: Base project Environmental Impact Statement approval.
Metallurgical studies to double project production capacity.
Drilling campaign to define primary sulphides at this deposit
VP INVESTMENT PLAN 2011 ACHIEVEMENTS
Safety Indicators
•
Total Frequency Rate
:
1.53
•
Total Severity Rate
:
40
•
Total Man-Hours
:
11 787 421
•
Total Man-Hours
:
11,787,421
Employment
•
Average 2011
:
6,029 employees
CODELCO ESTIMATED CAPITAL EXPENDITURE
FOR 2012
FOR 2012
I
t
t P
j
t (*)
US$ 3 572 B
Investment Projects (*)
US$ 3.572 Bn
Mine development
& contribution to joint-ventures
US$ 756 M
& contribution to joint-ventures US$ 756 M
TOTAL CODELCO 2012
US$ 4.328 Bn
(*) P
j
t P
tf li
(*) Project Portfolio
managed by VP
US$ 2.273 Bn
Note: Values express in nominal currency
Note: Values express in nominal currency.
CHALLENGES TO VP INVESTMENT PLAN 2012
P
j
t Vi
P
id
h
t
tf li
th t
Project Vice-Presidency has to manage a portfolio that
includes approximately 30 studies and projects, totalling US$
2.273 billion, that will have a positive impact on all Codelco
divisions.
Implement projects within deadline, budget and quality
p
p
j
g
q
y
standard,
and,
particularly,
prevent
serious
accidents
occurring.
Complex scenario: Simultaneous projects at Codelco and
in the mining industry; high demand for professionals,
engineering services and supplies; increase in project costs
engineering, services and supplies; increase in project costs
and risk of unexpected events
CHALLENGES TO VP INVESTMENT PLAN 2012
MINISTRO HALES
Total Investment 2012
US$ 1.145 Bn
Total Investment 2012
US$ 1.145 Bn
•
Start all Construction Contracts
1Q 2012
CHUQUICAMATA UNDERGROUND MINE
Total Investment 2012
US$ 234 M
Total Investment 2012
US$ 234 M
•
Complete Basic Engineering
4Q 2012
CHALLENGES TO VP INVESTMENT PLAN 2012
ANDINA EXPANSION 244
T t l I
t
t 2012
US$ 86 M
Total Investment 2012 US$ 86 M
•API (Investment Project Approval) issued End of 2012
NEW MINE LEVEL– EL TENIENTE
Total Investment 2012 US$ 399 M
•
Complete Emergency Ramp
2Q 2012
CHALLENGES TO VP INVESTMENT PLAN 2012
RT SULPHIDE MINE - PHASE II
T t l I
t
t 2012
US$ 73 M
Total Investment 2012
US$ 73 M
•
Development of Feasibility Stage
2012
SAN ANTONIO OXIDES
Total Investment 2012
US$ 57 M
•
Start of Investment Implementation Stage 3Q 2012
BUSINESS & DEVELOPMENT PLAN 2012
Copper Output (
Thousands of Mtf.)
close ENMS Close RT Oxides Close Chuqui Open Close Salvador Oxides
Sur Open Pit
San Quetena NEW MINE ANDINA 244 MH San Antonio RT Phase II LEVEL CHUQUI UNDER
CODELCO’S OUTPUT EVOLUTION
(Thousands of Mtf )
(Thousands of Mtf.)
History
Projection
With
Projects
Without
Projects
Note:
Includes Codelco’s 49% stake in El Abra.
Projection Source:
2011: Budget 2012: Triennial Plan proposed to Ministry of Finance and Ministry of Mining.
2020: Business & Development Plan (PND) 2011 & Non Development Plan (PSD) 2011 and SCM El Abra
2020: Business & Development Plan (PND) 2011 & Non-Development Plan (PSD) 2011, and SCM El Abra.
