Antamina Copper Zinc Mine
BHP Billiton Limited
12 October 2001
BHP Billiton Limited is issuing this announcement to fulfil disclosure
obligations arising from its secondary listing on the London Stock Exchange.
The text of this release is identical to that issued by BHP Billiton Plc
earlier.
Date: 12 October 2001
Ref: 19/01
Antamina Copper-Zinc Mine Achieves Commercial Production
Melbourne, Toronto, Vancouver and Tokyo - BHP Billiton, Noranda Inc., Teck
Cominco Limited and Mitsubishi Corporation announced that effective 1 October
2001, the Antamina copper-zinc project in northern Peru has achieved
commercial production, more than four months ahead of the original schedule of
February 2002, and is projected to be slightly under budget.
Commercial production is defined as 80 per cent of the project's designed
throughput rate, 70,000 tonnes per day, over a period of 90 days.
Commissioning and start-up began in late May with the introduction of ore to
the concentrator. The start-up period has progressed well and virtually all of
the facilities are operating satisfactorily.
As of October 1, the mill has treated more than 6.7 million tonnes of ore,
produced over 314,000 tonnes of copper concentrates, operated at or above the
design capacity throughput for a significant period of the start-up and is
currently achieving projected recoveries.
The pipeline and port facilities have operated at or near design capacity and
more than 210,000 tonnes of concentrate has been shipped. The ramp-up period
is continuing and a significant tonnage of copper-zinc ore is scheduled for
treatment during the fourth quarter of calendar 2001.
Antamina will be among the largest and lowest cost copper-zinc producers in
the world with average annual production at 675 million pounds of copper and
625 million pounds of zinc in the first ten years with a mine life in excess
of 22 years.
Antamina is located approximately 270 kilometres north of Lima. The project
has been developed and will be operated by Compania Minera Antamina which is
owned 33.75% by BHP Billiton, 33.75% by Noranda Inc., 22.5% by Teck Cominco
Limited and 10% by Mitsubishi Corporation.
This news release contains forward looking information (as defined in the
United States Private Securities Litigation Reform Act of 1995) that involves
a degree of risk and uncertainty affecting the business of BHP Billiton,
Noranda and Teck Cominco and in particular participation by them in the
development of the Antamina project including, but not limited to, base metal
price volatility, concentrate transport costs and the continued availability
of financing.
For a more detailed discussion of certain of these risks and other factors,
refer to the companies' Annual Information Forms (see Financial Instruments in
BHP Billiton Plc's Annual Report, 'Risks and Uncertainties' and 'Forward
Looking Statements' for Noranda and 'Risks and Uncertainties' for Teck
Cominco) which are filed with Canadian Securities Regulatory Authorities and
with the United States Securities and Exchange Commission under Form 40-F.
****
Contact:
Mandy Frostick Dale Coffin
BHP Billiton Noranda Inc.
+ 61 3 9609 4157 (416)982-7161
www.bhpbilliton.com www.noranda.com
Steven Dean Kazuhiko Noguchi
Teck Cominco Limited Mitsubishi Corporation
(604) 687-1117 (81)(3) 3210-3673
www.teckcominco.com www.mitsubishi.co.jp
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number
3196209
Registered in Australia Registered in England and Wales
Registered Office: 600 Bourke Street Registered Office: 1-3 Strand London
Melbourne Victoria 3000 WC2N 5HA United Kingdom
Telephone +61 3 9609 3333 Facsimile +61 Telephone +44 20 7747 3800 Facsimile
3 9609 3015 +44 20 7747 3900
The BHP Billiton Group is headquartered in Australia
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