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Investors’ Visit

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The views expressed here contain information derived from publicly

available sources that have not been independently verified.

No representation or warranty is made as to the accuracy,

completeness or reliability of the information. Any forward looking

information in this presentation has been prepared on the basis of a

number of assumptions which may prove to be incorrect. This

presentation should not be relied upon as a recommendation or

forecast by BHP Billiton or Samarco Mineração S.A.

Nothing in this release should be construed as either an offer to sell or

a solicitation of an offer to buy or sell shares in any jurisdiction.

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3 33

Agenda

Company

Company OverviewOverview Achievements

Achievements

Third

Third Pellet PlantPellet Plant Corporate

Corporate StrategyStrategy

Summary Summary

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4 44

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5 55

Ownership

2001 2002 2003 2004 2005 2006 Employees 1206 1248 1286 1320 1336 1381

Sales - Million Metric Tons

Pellets 9.5 12.3 13.7 14.1 14.1 14.1

Pellet-Feed 2.0 2.5 2.7 2.2 1.4 1.9

Total 11.5 14.8 16.4 16.2 15.5 16.0

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6 66

Company Overview

• It is the worldIt is the world’’s second largest exporter of seaborne iron ore pelletss second largest exporter of seaborne iron ore pellets

-- In 2006, SamarcoIn 2006, Samarco’’s net sales were US$1.14 billion with EBITDA of s net sales were US$1.14 billion with EBITDA of US$695 million

US$695 million

• In the years of 2004, 2005 and 2006, SamarcoIn the years of 2004, 2005 and 2006, Samarco’’s pellet production s pellet production reached its full volume capacity

reached its full volume capacity

• In November 2005 Samarco started the implementation of the In November 2005 Samarco started the implementation of the ‘‘Third Third Pellet Plant Project

Pellet Plant Project’’ with expected investment cost of US$ 1.2 billionwith expected investment cost of US$ 1.2 billion

$800

$800 67.6%

32.4% $383

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7 77

• SAMARCO:SAMARCO: •

• One main raw materialOne main raw material •

• An integrated production process (own mine, beneficiation, An integrated production process (own mine, beneficiation, transportation and port facilities)

transportation and port facilities)

• Two products with prices set once a yearTwo products with prices set once a year •

• 25 customers / Long25 customers / Long--term supply contractsterm supply contracts

For the year ended December 31,

(US$ in millions) 2001 2002 2003 2004 2005

Total Pellet Sales Volume (mm ton) 9.5 12.3 13.7 14.1 14.1

Net Sales $327 $392 $465 $572 $1,031

EBITDA $147 $190 $242 $322 $685

margin* 45% 49% 52% 56% 66%

Debt / EBITDA 1.9x 1.1x 0.8x 0.6x 0.5x

Source: Samarco

*EBITDA Margin calculated as EBITDA / Net Sales

2006 14.1 $1,143 $695 61% 1.1x Company Overview

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8 88

• BrazilBrazil’’s good underlying economic s good underlying economic fundamentals, strong market

fundamentals, strong market

liquidity, positive Company

liquidity, positive Company

management results and strong

management results and strong

shareholder structure allowed for

shareholder structure allowed for

risk re

risk re--assessment by Fitch Ratings, assessment by Fitch Ratings, resulting in risk re

resulting in risk re--classification in classification in foreign currency in June from 'BB+'

foreign currency in June from 'BB+'

to 'BBB

to 'BBB--', with stable outlook. ', with stable outlook. •

• In August, following the updating in In August, following the updating in methodology to establish the

methodology to establish the

country ceiling, Fitch Ratings raised

country ceiling, Fitch Ratings raised

the risk classification of some

the risk classification of some

companies in Latin America, among

companies in Latin America, among

them Samarco, whose classification

them Samarco, whose classification

in foreign currency changed from

in foreign currency changed from

'BBB

'BBB --' to 'BBB', with stable outlook.' to 'BBB', with stable outlook.

Date Changed FC Ratings Oct. 13, 2005 BB-... Sep. 3, 2003 B Jun. 29, 2006 BBB-Apr. 24, 2006 BB+ Dec. 12, 2005 BB Aug. 17, 2006 BBB Ratings by Fitch Company Overview

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9 99 Company Overview History History: :

• In 1973, Samitri and Marcona Corporation merged to form Samarco In 1973, Samitri and Marcona Corporation merged to form Samarco Minera

Mineraçção S.A., with headquarters in Belo Horizonte, in the state of ão S.A., with headquarters in Belo Horizonte, in the state of Minas Gerais, Brazil

Minas Gerais, Brazil

• In 1977, Marcona Corporation was sold to Utah InternationalIn 1977, Marcona Corporation was sold to Utah International •

• In 1978, Utah Marcona Corp. was sold to General ElectricIn 1978, Utah Marcona Corp. was sold to General Electric •

• In 1984, BHP bought UtahIn 1984, BHP bought Utah--Marcona and thus took over 49% of SamarcoMarcona and thus took over 49% of Samarco •

• In 2000, CVRD bought and incorporated Samitri In 2000, CVRD bought and incorporated Samitri ÙÙ This led to a This led to a shareholder reorganization in Samarco, now a 50

shareholder reorganization in Samarco, now a 50--50 joint venture 50 joint venture between CVRD and BHP Billiton Brasil.

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10 1010

Company Overview

Samarco

Samarcos s ProductProduct OverviewOverview: :

• SamarcoSamarco’’s iron ore pellets are produced from two forms of concentrate: ls iron ore pellets are produced from two forms of concentrate: low ow silica (

silica (““CLSCLS””) and normal silica () and normal silica (““CNSCNS””), and used in two different steel ), and used in two different steel production process: Direct Reduction (

production process: Direct Reduction (““DRDR””) and Blast Furnace () and Blast Furnace (““BFBF””) smelting.) smelting.

-- About 80% of current world pellet production is used as BF feedsAbout 80% of current world pellet production is used as BF feedstock; the tock; the remaining 20% is used for DR

remaining 20% is used for DR

• Through Ponta Ubu port facility (load capacity of 20 mtpa) SamarThrough Ponta Ubu port facility (load capacity of 20 mtpa) Samarcoco’’s products s products are loaded Free

are loaded Free--onon--Board (Board (““FOBFOB””) and shipped overseas to steel producers in ) and shipped overseas to steel producers in the Americas, Asia, the Middle East, Africa and Europe

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11 1111

Company Overview

Production

Production ProcessProcess: :

• Production process is divided into three major stages: Production process is divided into three major stages:

-- Mining and beneficiationMining and beneficiation

-- TransportationTransportation

-- Pelletizing and shippingPelletizing and shipping •

• The first stage starts in the Germano site, where the iron ore (The first stage starts in the Germano site, where the iron ore (called called Itabirite) is mined, grounded and concentrated.

Itabirite) is mined, grounded and concentrated.

• The worldThe world’’s largest pipeline for iron ore transporting, carries the s largest pipeline for iron ore transporting, carries the concentrate produced at Germano mining site to the pelletizing p

concentrate produced at Germano mining site to the pelletizing plants, in lants, in the form of slurry (mixture of water and concentrated iron ore)

the form of slurry (mixture of water and concentrated iron ore)

• At Ponta Ubu site, the slurry is dewatered and most of the conceAt Ponta Ubu site, the slurry is dewatered and most of the concentrate is ntrate is pelletized.

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12 1212

Company Overview

• Samarco is amongst the worldSamarco is amongst the world’’s lowests lowest--cost producers of iron ore pellets:cost producers of iron ore pellets:

-- Efficient mining operationsEfficient mining operations

-- Energy self generationEnergy self generation

-- CostCost--effective pipeline effective pipeline •

• Operational costs are mainly driven by fuel and electricity costOperational costs are mainly driven by fuel and electricity costs s •

• Samarco employs various procurement strategies to mitigate its Samarco employs various procurement strategies to mitigate its exposure to input price and volume volatility thus ensuring a co

exposure to input price and volume volatility thus ensuring a competitive mpetitive production cost

production cost

Cost

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13 1313

Company Overview

Customer

Customer BaseBase: :

• Samarco has developed Samarco has developed long

long--term relationships with term relationships with its clients (average of 17

its clients (average of 17

years)

years)

• It benefits from a small, It benefits from a small, stable and diversified

stable and diversified

customer base, selling its

customer base, selling its

products to 25 customers in

products to 25 customers in

18 countries

18 countries

• 10 largest customers 10 largest customers represent 61% of

represent 61% of

Samarco

Samarco’’s output in 2006s output in 2006

Pellet sales by region (wmt)

China 31% Other Asia 20% Europe 18% Americas 10% Africa / Middle East 21% 2006 BF: 0% DR:100% BF: 100% DR: 0% BF: 57% DR: 43% BF: 0% DR:100% BF: 96% DR: 4%

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14 1414

Company Overview

Customer

Customer BaseBase: :

Source: Samarco 8 2 6 5 3 3 6 13

Up to 1 2 and 3 4 and 5 5 & over

2002 2006

• The Company has signed 10The Company has signed 10--year supply contracts with its largest year supply contracts with its largest customers

customers

• Almost 100% of SamarcoAlmost 100% of Samarco’’s sales are governed by longs sales are governed by long--term (in excess term (in excess of three years) volume

of three years) volume--based contracts, many of which are automatically based contracts, many of which are automatically renewable when they expire (known as

renewable when they expire (known as ““evergreenevergreen”” contracts)contracts) •

• From 13 contracts with more than 5 years life, 12 have a remainiFrom 13 contracts with more than 5 years life, 12 have a remaining life in ng life in excess of 10 years

excess of 10 years

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15 1515

(16)

16 1616 Pipeline A ltitude (in m eters)

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17 1717

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18 1818

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19 1919

Muniz Freire – Power Plant

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20 2020

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21 2121

Agenda

Company

Company OverviewOverview Achievements

Achievements

Third

Third Pellet PlantPellet Plant Corporate

Corporate StrategyStrategy

Summary Summary

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22 2222

Integrated Operations Results

Production and Sales

Pellets Fines 1,497 1,648 2,913 2,035 1,735 1,226 13,703 13,797 13,266 11,582 9,890 13,852 -1.000 1.000 3.000 5.000 7.000 9.000 11.000 13.000 15.000 17.000 19.000 01 02 03 04 05 06 1,408 2,228 2,730 2,526 1,893 1,96 1 14,076 14,071 13,677 12,326 14,057 9,547 -1.000 1.000 3.000 5.000 7.000 9.000 11.000 13.000 15.000 17.000 19.000 01 02 03 04 05 06 Production - In TMS 000´s Sales - In TMN 000's

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23 2323 Financial Results Gross Revenue Faturamento Bruto 333 413 500 641 1,092 1,170 0 200 400 600 800 1000 1200 1400 01 02 03 04 05 06 777 1,218 1,529 1,869 2,618 2,544 0 500 1.000 1.500 2.000 2.500 3.000 01 02 03 04 05 06

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24 2424

Financial Results

Net Income

Lucro Líquido Lucro Líquido

504 206 102 96 56 442 0 100 200 300 400 500 600 01 02 03 04 05 06 987 1,220 87 689 180 436 0 200 400 600 800 1.000 1.200 1.400 01 02 03 04 05 06

(25)

25 2525 Financial Results EBITDA EBITDA EBITDA 147 190 242 322 685 695 0 100 200 300 400 500 600 700 800 01 02 03 04 05 06 369 627 724 937 1,615 1,497 0 200 400 600 800 1000 1200 1400 1600 1800 01 02 03 04 05 06

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26 2626 Financial Results ROCE ROCE ROCE 12.0 16.3 23.1 32.9 71.6 67.4 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 01 02 03 04 05 06 16.3 26.5 32.5 42.4 72.4 56.5 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 01 02 03 04 05 06 ROCE in US$ (%) ROCE in R$ (%)

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27 2727

Sales Distribution

Market Share and Sales Distribution

17.3 14.8 16.5 17.2 17.3 16.1 15.0 13,5 14,0 14,5 15,0 15,5 16,0 16,5 17,0 17,5 00 01 02 03 04 05 06 Market Share In (%)

Destino das Vendas em 2002

em (%) China 31% Africa/ Middle East 21% Europe 18% Other Asia 20% Americas 10% Sales Distribution in 2006 (%)

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28 2828

Agenda

Company

Company OverviewOverview Achievements

Achievements

Third

Third Pellet PlantPellet Plant Corporate

Corporate StrategyStrategy

Summary Summary

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29 2929

Favorable market perspectives;Favorable market perspectives;

Significant Significant ““PlayerPlayer”” in the seaborne pellets market: 2nd largest in the seaborne pellets market: 2nd largest exporter;

exporter;

Strong and long standing commercial relationships;Strong and long standing commercial relationships;

Balanced geographical distribution of costumers;Balanced geographical distribution of costumers;

Leading position in operational excellence: lowest production coLeading position in operational excellence: lowest production cost;st;

Strong cash generation;Strong cash generation;

Logistics: integrated industrial process (from mine to port).Logistics: integrated industrial process (from mine to port).

Strategy

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30 3030

Safety & Environment

Safety

Safety & & EnvironmentalEnvironmental PolicyPolicy : :

• Samarco operates under rigorous safety standardsSamarco operates under rigorous safety standards •

• The Company is monitored by International Finance Corporation (The Company is monitored by International Finance Corporation (““IFCIFC””) ) for the environmental world bank standards,

for the environmental world bank standards,

• Is fully compliant with current environmental laws in the countrIs fully compliant with current environmental laws in the countryy –

– Has an internal committee to identify and evaluate the environmeHas an internal committee to identify and evaluate the environmental ntal laws

laws

– Has engaged an environmental legal office, which monitors all neHas engaged an environmental legal office, which monitors all new w laws and changes

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31 3131 Certificates ISO 14001 ISO 14001 1998 1998 ISO 9001:2000 ISO 9001:2000 1994 1994 OHSAS 18001 OHSAS 18001 2000 2000 BS 7799 BS 7799 2004 2004

(32)

32 3232 11.59 1.42 0.71 1.09 1.39 2.67 2.46 3.81 6.45 7.23 10.76 10.89 8.89 10.00 10.78 5.19 20.14 16.10 27.51 29.24 70.05 0.53 0.16 0.52 0.37 0.40 0.21 0.81 0.71 1.20 2.62 2.24 0 10 20 30 40 50 60 70 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 Fr eque nc y R at e Samarco Samarco+Contractors

Source: Samarco´s data

Safety

Lost Time Injury Frequency Rate

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33 3333

Samarco believes that the company´s growth should be shared with the communities, and seeks various ways to contribute to the practice of citizenship and the sustainable development of these localities.

The initiatives are based on four different areas:

• Socio-environmental programs;

• Institutional positioning (campaigns, visits, participation in forums, committees and entities);

• Sponsorship and donations; • Volunteering programs.

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34 3434 Environmental Education

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35 3535 Volunteer Work

(36)

36 3636 Health

(37)

37 3737 Regional Development

Current Social and Environmental Activities

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38 3838

Market

The world is going through a period of great growth,

fired by China and its industrial expansion

3.6% 3.6% 3.6% 4.0% 4.4% 4.2% 4.1% 3.3% 4.4% 2.6% 4.1% 7.1% 7.1% 7.1% 7.4% 7.6% 8.0% 8.0% 8.3%9.1%9.5% 8.3% 2000-2012

Source: AME; A.T. Kearney Analysis

Growth Rate — Industrial Production Growth Rate — GDP 2000-2012 4.9% 4.9% 4.9% 5.6% 5.5% 6.3% 5.0% 4.3% 6.0% 2.0% 3.8% 9.0% 9.0% 9.0% 11.0% 12.0% 14.0% 12.0% 8.6% 17.0% 8.0% 14.4%

World China USA EU-25 Japan

03 04 05 06 07 08 09 10 11 12

02

03 04 05 06 07 08 09 10 11 12

02

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39 3939

Market

The demand for iron ore will continue

with main growth in the seaborne market

Demand — the accelerated world growth, specially from 2003 on, reflected in a higher steel demand. Consequently the increase of iron ore demand made necessary to explore new mines increasing even more the seaborne market

Geographic Market — Due to it’s extraordinary industrial growth, China will raise market share from 52% to 58% in the iron ore seaborne market 485 478 512 512 585 642 699 739 794 979 849 911 945 1434 1308 1183 1075 1039 1069 1995 1952 1908 1830 1750 1657 1568 02

Source: AME; A.T. Kearney Analysis

Market — Iron Ore Market Demand — Iron Ore

2000-2012

03 04 05 06E 07E 08E 09E 10E 11E 12E

Million tons World Seaborne 01 00 CAGR 05-12 4.8% CAGR 05-12 6.2%

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40 4040

Market

New players represent 83% of the planned increase in

pellets capacity

59.5 17.5 31.7 55.0 14.4 178.1 0 20 40 60 80 100 120 140 160 180 200 2007 2008 2009 2010 In Study Total 2.9% 4.5% 4.9% 5.1% 33.0% 30.3% 19.3%

Source: CRU; Annual Company Reports, Analysis AT Kearney

Others New Plants — Pelletizing (MM tons)

China Steel Companies CVRD Samarco LKAB IOC

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41 4141

Major Players

Major Players

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42 4242 Other Asia 23% Europe 16% Americas 12% China 20% Africa / Middle East 29% Other Asia 20% Europe 18% Americas 10% China 31% Africa / Middle East 21% Sales by Region PDR 41% PBF 59% Marketing

2006

2009

Sales by Region PDR 55% PBF 45% Sales by Region

(43)

43 4343 Pricing Pricing Pricing: :

-- In 2005 an unprecedented 85% rise of the benchmark pellet price,In 2005 an unprecedented 85% rise of the benchmark pellet price, reflected the limited amount of additional supply capacity. Such

reflected the limited amount of additional supply capacity. Such increase increase established a new base price level similar, in real terms, to th

established a new base price level similar, in real terms, to that of the early at of the early 1980s.

1980s.

-- The recently concluded 2007 iron ore price negotiation followed The recently concluded 2007 iron ore price negotiation followed the actual the actual market conditions allowing 9.5% increase in the price of iron or

market conditions allowing 9.5% increase in the price of iron ore fines.e fines.

-- Simultaneously, pellet price negotiations reflected actual markeSimultaneously, pellet price negotiations reflected actual market condition t condition resulting of an increase of 5.28%.

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44 4444 Pricing Pricing Pricing: :

• The resurgence in the direct reduction sector will put further pThe resurgence in the direct reduction sector will put further pressure on pellet ressure on pellet supply, keeping pellet prices similar to the 2005 level in real

supply, keeping pellet prices similar to the 2005 level in real terms through terms through 2009

2009

CVRD and Samarco Iron Ore Prices

53% 55% 82% 83% 80% 80% 72% 71% 67% 65% 68% 70% 85% 51% 45% 71% 46.83 41.95 47.20 51.30 50.95 52.33 45.79 48.43 49.25 46.68 51.36 60.86 113.62 111.40 117.28 41.95 0 20 40 60 80 100 120 19 92 19 93 19 94 19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 Pr ic es ( U SD /d m tu) 40% 50% 60% 70% 80% 90% 100% Pr em iu m over f in es ( % )

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45 4545

Financial KPI’s

Source: Samarco´s data

Revenue (US$ million)

371 339 430 333 413 500 641 1,092 1,170 1,191 1,868 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2010 Forecast Forecast

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46

4646

Financial KPI’s

Source: Samarco´s data

EBITDA (US$ million) - CY

137 164 181 147 190 242 322 685 695 664 1,119 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2010 Forecast Forecast

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47 4747 2.90 1.80 1.70 1.90 0.90 0.80 0.60 0.50 1.10 1.80 0.75 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2010 Financial KPI’s

Source: Samarco´s data

Forecast

Forecast

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48 4848

Profitability

Source: Samarco´s data

60 43 35 150 200 450 450 300 550 2000 2001 2002 2003 2004 2005 2006 2007 2010

The Company paid uninterruptedly annual dividends

The Company paid uninterruptedly annual dividends

since its inception

since its inception

Continuous Continuous dividend dividend payment payment

Dividends payment long history (US$ million)

Forecast

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49 4949

Agenda

Company

Company OverviewOverview Achievements

Achievements

Third

Third Pellet PlantPellet Plant Corporate

Corporate StrategyStrategy

Summary Summary

(50)

50 5050 5.4 5.7 5.1 4.9 5.8 5.8 5.8 6.1 9.4 10.2 12.5 9.9 11.6 13.3 13.8 13.7 13.9 3.0 2.5 2.2 2.9 3.2 3.6 3.2 3.5 2.2 1.6 1.7 1.6 2.9 2.0 1.7 1.2 1.5 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Capacity

Capacity ExpansionExpansion: :

• In the years of 2004, 2005 and 2006, Samarco reached its maximumIn the years of 2004, 2005 and 2006, Samarco reached its maximum production capacity

production capacity

• The Third Pellet Plant Project will increase capacity to 21.6 miThe Third Pellet Plant Project will increase capacity to 21.6 million tons llion tons by 2008

by 2008

Project Rationale

• SamarcoSamarco’’s historical pellet production:s historical pellet production:

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51 5151

Favorable

Favorable MarketMarket ConditionsConditions: :

Project Rationale

• Pellets account for more than 18% of current global iron ore expPellets account for more than 18% of current global iron ore exports;orts; •

• Brazil remains the largest exporter with more than one third marBrazil remains the largest exporter with more than one third market ket share;

share;

• In 2006, SamarcoIn 2006, Samarco’’s share in seaborne pellet sales market reached 15%; s share in seaborne pellet sales market reached 15%; after Project

after Project’’s implementation market share is expected to increase to s implementation market share is expected to increase to 20%;

20%;

• Additionally, the current strong demand favors longAdditionally, the current strong demand favors long--term contracts term contracts arrangements:

arrangements:

• Most of the total projectMost of the total project’’s output has already been contracted by s output has already been contracted by Samarco with its current customer base under long

Samarco with its current customer base under long--term term

agreements, and the remaining capacity should be contracted

agreements, and the remaining capacity should be contracted

following the same pattern.

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52 5252

The production process of the Expansion will be substantially si

The production process of the Expansion will be substantially similar milar

to Samarco

to Samarcos current operationss current operations Mine

Mine andand ConcentrationConcentration PlantPlant: :

• Samarco will increase its concentrate capacity from 16.5 to 24 mSamarco will increase its concentrate capacity from 16.5 to 24 mtpa.tpa. •

• Expected Investment of US$ 276 millionExpected Investment of US$ 276 million

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53 5353

• Samarco will transport the additional production of its mine andSamarco will transport the additional production of its mine and new new concentrate plant by a second pipeline been constructed in paral

concentrate plant by a second pipeline been constructed in parallel to the lel to the existing pipeline, with capacity to transport 7.5

existing pipeline, with capacity to transport 7.5 mtpamtpa of concentrateof concentrate •

• Expected Investment of US$ 295 millionExpected Investment of US$ 295 million

Project Description Pipeline Pipeline: : FERTECO PONTA UBU VITÓ RI A BARRA LONGA MATIPÓ MINAS GERAIS ES PIR ITO SA NTO RIO DE JANEIRO AT LAN TIC OC EAN

EXIS TING P IPELINE 16.5 MTP Y

LEGEND

PROJECTED PIPELINE 7,5 MTPY

VITÓR IA-M INAS RAIL ROAD BELO HO RIZONTE

IRON ORE QUADRANGLE

E XISTING RAILROAD GERMANO ALEGRIA FERTECO PONTA UBU VITÓ RI A BARRA LONGA MATIPÓ MINAS GERAIS ES PIR ITO SA NTO RIO DE JANEIRO AT LAN TIC OC EAN

EXIS TING P IPELINE 16.5 MTP Y

LEGEND

PROJECTED PIPELINE 7,5 MTPY

VITÓR IA-M INAS RAIL ROAD BELO HO RIZONTE

IRON ORE QUADRANGLE

E XISTING RAILROAD

GERMANO ALEGRIA

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54 5454

• Samarco will increase its capacity by:Samarco will increase its capacity by:

-- Constructing a new 7.6 mtpa capacity pellet plant at Ponta UbuConstructing a new 7.6 mtpa capacity pellet plant at Ponta Ubu

-- Constructing an additional stockyard areaConstructing an additional stockyard area

-- Enhancing the existing handling and shipping facilitiesEnhancing the existing handling and shipping facilities •

• Expected Investment of US$ 600 millionExpected Investment of US$ 600 million

Project Description

Pellet

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55 5555

Third Pellet Plant Project

PROJECT HIGHLIGHTS

Updated February/2007

Updated February/2007

ƒ

Project completion is on Schedule.

ƒ

One lost time injury was registered until February 2007:

¾ Worked hours : 10.540.735

¾ Lost Time Injuries Frequency Rate(LTIFR) : 0,09

¾ Classified Injuries Frequency Rate(CIFR) : 0,19

ƒ

Physical Progress: Up to date = 61%

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56 5656

Agenda

Company

Company OverviewOverview Achievements

Achievements

Third

Third Pellet PlantPellet Plant Corporate

Corporate StrategyStrategy

Summary Summary

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57 5757

Strong

Strong SponsorsSponsors: :

BHP Billiton (A+ by S&P):BHP Billiton (A+ by S&P): a diversified natural resources company a diversified natural resources company occupying industry leader or near industry leader position in ma

occupying industry leader or near industry leader position in major jor

commodity business.

commodity business.

CVRD (BBB+ by S&P): CVRD (BBB+ by S&P): the largest diversified mining company in the the largest diversified mining company in the Americas and the fifth largest company in the global metals & mi

Americas and the fifth largest company in the global metals & mining ning industry.

industry.

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58 5858

Solid

Solid CreditCredit ProfileProfile: :

• Experienced Management Team Experienced Management Team •

• Leading Market Position Leading Market Position •

• Independent from the Brazilian economy: 100% exporter (revenues Independent from the Brazilian economy: 100% exporter (revenues in in hard currency) and fully integrated (own its mines, pipeline and

hard currency) and fully integrated (own its mines, pipeline and port port facilities)

facilities)

• Increasing performance:Increasing performance:

45% 48% 52% 56% 66% EBITD A (US$ Milli ons) 30% 35% 40% 45% 50% 55% 60% 65% 70% EBITD A Margin (% ) CAGR 67.0% 61% $327 $392 $465 $572 $1,031 $1,143 0 200 400 600 800 1000 1200 2001 2002 2003 2004 2005 2006 Net S al e s (US $ Milli on s) CAGR 33.4% Summary $147 $190 $242 $322 $685 $695 0 100 200 300 400 500 600 700 800 2001 2002 2003 2004 2005 2006 66%

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59 5959

Samarco

• Samarco is strongly positioned in the pellet market; • Low-cost producer of high-margin product;

• The company has an unique “continuous” logistical system that provides a very low cost base;

• The end of CAPEX cycle gave the company larger scale, and a higher cash generation capability;

• Samarco has a sound management system and successful continuous improvement program;

• An array of new value-creation possibilities is available for growth.

Summary

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60 6060

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• Excellent mechanical stability and corrosion protection • Excellent oxidation stability, helping extend grease life • Excellent extreme pressure, anti-rust and water

Objective: To determine the in vitro and in vivo antimalarial activity and safety of four medicinal plants used in Kenya to treat malaria.. Materials and Methods: Ximenia

• Acknowledgement in conference program, website, newsletter and pre-conference publicity.. Refreshment Breaks: $1,500 (Limit 6) package

The information in this report that relates to Mineral Resources is based on and accurately reflects information compiled by Mr Iain Macfarlane and Mr Alex Virisheff, both of

• Toyota continues to lead the industry with a 32.8 percent share of the market followed by Mitsubishi Motors Philippines Corp (MMPC) with 19.7 percent and Hyundai Asia Resources