Production Report for the 12 months ended 31.12.12
NEWS RELEASE
Baar, 12 February 2013
Production Report for the 12 months ended 31 December 2012
Key Highlights
• Industrial growth projects continue to deliver overall volume improvement.
• Kazzinc own gold production up 22% with recovery rates continuing to improve; successful ramp-up of new copper smelter resulting in increased copper cathode production.
• Katanga copper metal up 2%, with cathode production up 7%, in spite of significant disruption from power shortage. New power converter and synchronous condenser commissioned in December 2012. Agreement with SNEL to provide better reliability and availability of electricity supply in the medium to long term.
• Mutanda copper produced up 37%. Following completion of the cobalt plant, Mutanda now has capacity in place to produce up to 110,000 tonnes of copper and 23,000 tonnes of cobalt.
• Murrin Murrin own sourced production was 33,400 tonnes of nickel, a record production year.
• Prodeco own production up 1% despite the three month strike at La Jagua. The expansion plan remains on track to produce annualised 20 million tonnes by 2014.
• Significant growth in South African coal production following the acquisitions of Optimum and Umcebo.
• Aseng oil field ahead of schedule producing 61.7k bbls/day, with Alen field on schedule to start producing in Q3 2013.
• Sugarcane processing and oilseed crushing increased by 39% and 38% respectively, following the investment into these activities.
• A proforma of Glencore Xstrata production for 2012 and 2011 can be found from page 9. Investors' attention is drawn to the fact that completion of the merger remains conditional upon the receipt of the outstanding regulatory approval in China, completion of the Xstrata court process and Glencore giving effect to the commitments required by the European Commission. As indicated in the merger timing update dated 18 January 2013, the long stop date for the merger is now 15 March 2013.
For further information please contact:
|
Investors & analysts Paul Smith/Elisa Morniroli t: +41 (0)41 709 24 87/28 18 e: elisa.morniroli@glencore.com |
Media Charles Watenphul t: +41 (0)41 709 24 62 e: charles.watenphul@glencore.com |
Finsbury (Media) Guy Lamming Dorothy Burwell t: +44 (0)20 7251 3801 |
website: www.glencore.com
Metals and Minerals
Production data
| thousand1 |
|
Using feed from own sources |
Using feed from third party sources |
2012 Total |
Using feed from own sources |
Using feed from third party sources |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Kazzinc |
|
|
|
|
|
|
|
|
|
Zinc metal |
MT |
227.3 |
74.0 |
301.3 |
246.0 |
54.8 |
300.8 |
- 8% |
|
Lead metal ² |
MT |
26.8 |
55.7 |
82.5 |
35.6 |
66.2 |
101.8 |
- 25% |
|
Copper metal ³ |
MT |
49.6 |
3.0 |
52.6 |
51.2 |
1.8 |
53.0 |
- 3% |
|
Gold |
toz |
474 |
87 |
561 |
390 |
39 |
429 |
22% |
|
Silver |
toz |
4 777 |
15 031 |
19 808 |
4 299 |
5 571 |
9 870 |
11% |
|
Katanga |
|
|
|
|
|
|
|
|
|
Copper metal ³ |
MT |
93.0 |
- |
93.0 |
91.2 |
- |
91.2 |
2% |
|
Cobalt |
MT |
2.13 |
- |
2.13 |
2.43 |
- |
2.43 |
- 12% |
|
Mutanda |
|
|
|
|
|
|
|
|
|
Copper metal ³ |
MT |
87.0 |
- |
87.0 |
63.7 |
- |
63.7 |
37% |
|
Cobalt 4 |
MT |
8.50 |
- |
8.50 |
7.87 |
- |
7.87 |
8% |
|
Mopani |
|
|
|
|
|
|
|
|
|
Copper metal ³ |
MT |
99.0 |
88.1 |
187.1 |
101.4 |
103.0 |
204.4 |
- 2% |
|
Cobalt 4 |
MT |
0.07 |
0.16 |
0.23 |
0.56 |
0.33 |
0.89 |
- 88% |
|
Other Zinc (Los Quenuales, Sinchi Wayra, AR Zinc, Portovesme, |
|
|
|
|
||||
|
Zinc metal |
MT |
53.0 |
81.7 |
134.7 |
61.0 |
92.7 |
153.7 |
- 13% |
|
Zinc oxide |
DMT |
52.5 |
- |
52.5 |
30.9 |
- |
30.9 |
70% |
|
Zinc concentrates |
DMT |
425.0 |
- |
425.0 |
461.2 |
- |
461.2 |
- 8% |
|
Lead metal |
MT |
11.8 |
- |
11.8 |
11.9 |
- |
11.9 |
- 1% |
|
Lead concentrates |
DMT |
67.2 |
- |
67.2 |
61.0 |
- |
61.0 |
10% |
|
Tin concentrates |
DMT |
2.35 |
- |
2.35 |
4.74 |
- |
4.74 |
- 50% |
|
Silver metal |
toz |
783 |
- |
783 |
754 |
- |
754 |
4% |
|
Silver in concentrates |
toz |
7 279 |
- |
7 279 |
7 978 |
- |
7 978 |
- 9% |
|
Other Copper (Cobar, Pasar, Punitaqui, Sable) |
||||||||
|
Copper metal |
MT |
- |
98.4 |
98.4 |
- |
164.1 |
164.1 |
n.m. |
|
Copper concentrates |
DMT |
179.2 |
0.1 |
179.3 |
204.9 |
- |
204.9 |
- 13% |
|
Cobalt |
MT |
- |
0.71 |
0.71 |
- |
0.16 |
0.16 |
n.m. |
|
Silver in concentrates |
toz |
941 |
- |
941 |
1 035 |
- |
1 035 |
- 9% |
|
Alumina/Aluminium (Sherwin) |
|
|
|
|
|
|
|
|
|
Alumina |
MT |
- |
1 379 |
1 379 |
- |
1 460 |
1 460 |
n.m. |
|
Ferroalloys/Nickel/Cobalt (Glencore Manganese, Murrin Murrin) |
|
|
|
|
|
|||
|
Ferro manganese |
MT |
- |
17.34 |
17.34 |
- |
- |
- |
n.m. |
|
Silicon manganese |
MT |
- |
15.91 |
15.91 |
- |
- |
- |
n.m. |
|
Nickel metal |
MT |
33.41 |
3.02 |
36.43 |
28.50 |
1.50 |
30.00 |
17% |
|
Cobalt |
MT |
2.39 |
0.10 |
2.49 |
2.02 |
0.07 |
2.09 |
18% |
|
|
|
|
|
|
|
|
|
|
|
Total Zinc contained |
MT |
534.4 |
155.7 |
690.1 |
563.1 |
147.5 |
710.6 |
- 5% |
|
Total Copper contained |
MT |
376.7 |
189.6 |
566.3 |
362.6 |
268.9 |
631.5 |
4% |
|
Total Lead contained |
MT |
76.3 |
55.7 |
132.0 |
82.5 |
66.2 |
148.7 |
- 8% |
|
Total Tin contained |
MT |
1.15 |
- |
1.15 |
2.23 |
- |
2.23 |
- 48% |
|
Total Gold (incl. Gold equivalents) 5 |
toz |
731 |
367 |
1 098 |
706 |
164 |
870 |
4% |
|
Total Alumina |
MT |
- |
1 379 |
1 379 |
- |
1 460 |
1 460 |
n.m. |
|
Total Ferro manganese |
MT |
- |
17.34 |
17.34 |
- |
- |
- |
n.m. |
|
Total Silicon manganese |
MT |
- |
15.91 |
15.91 |
- |
- |
- |
n.m. |
|
Total Nickel |
MT |
33.41 |
3.02 |
36.43 |
28.50 |
1.50 |
30.00 |
17% |
|
Total Cobalt |
MT |
13.09 |
0.97 |
14.06 |
12.88 |
0.56 |
13.44 |
2% |
|
2 3 4 5 |
||||||||
Selected average commodity prices
|
|
|
2012 |
2011 |
Change |
|
|
|
|
|
|
|
S&P GSCI Industrial Metals Index |
|
382 |
440 |
- 13% |
|
LME (cash) zinc price ($/t) |
|
1 948 |
2 193 |
- 11% |
|
LME (cash) copper price ($/t) |
|
7 958 |
8 813 |
- 10% |
|
LME (cash) lead price ($/t) |
|
2 062 |
2 397 |
- 14% |
|
Gold price ($/oz) |
|
1 669 |
1 573 |
6% |
|
Metal Bulletin alumina price ($/t) |
|
319 |
374 |
- 15% |
|
LME (cash) aluminium price ($/t) |
|
2 022 |
2 398 |
- 16% |
|
LME (cash) nickel price ($/t) |
|
17 530 |
22 843 |
- 23% |
|
Metal Bulletin cobalt price 99.3% ($/lb) |
|
13 |
16 |
- 19% |
|
Iron ore (Platts 62% CFR North China) price ($/DMT) |
|
130 |
169 |
- 23% |
OPERATIONAL HIGHLIGHTS
Kazzinc (Glencore interest: 69.6%, increased from 50.7% on 11 October 2012)
2012 gold production from own sources was 474,000 toz, an increase of 22% compared to 2011. This higher production reflects the continued growth at Altyntau as well as the benefits from gold recovered from the copper smelter. Silver production from own sources was 4.8 million toz, an increase of 11% compared to the prior year, reflecting an increase in the level of own silver-bearing copper concentrates processed. Total silver production also increased significantly during 2012 as a result of processing more high silver content concentrates from third parties.
Copper production from own sources in 2012 was 49,600 tonnes, a reduction of 3% compared to 2011. However, copper cathode production increased by 25,800 tonnes to 47,300 tonnes, following the ramp-up at Kazzinc's new copper smelter which was commissioned in 2011.
2012 lead production from own sources was 26,800 tonnes, a decrease of 25% compared to 2011. This reflects the ramp-up at the new lead smelter which was commissioned in August 2012 and the processing of gold rich concentrates at the old lead smelter prior to its decommissioning.
Zinc production from own sources was 227,300 tonnes, a decrease of 8%, resulting from the expected small reduction in grade during 2012.
Katanga (Glencore interest: 75.2%)
Katanga produced 93,000 tonnes of copper in metal and in concentrate from own sources during 2012, a 2% increase compared to 2011. Cobalt production in 2012 was 2,100 tonnes, a 12% decrease compared to 2011.
Production during the year was severely disrupted by the recurrent general power disruptions in the DRC which resulted in 67 days of lost production.
The new power converter (part of the World Bank power project) and new synchronous condenser (under Katanga's agreement with
La Société Naturale d'Electricité ('SNEL'), DRC's national power operator) were commissioned in December 2012 and have subsequently resulted in a decrease in power disruption. Further improvements in the reliability and availability of the electricity supply are expected in the medium term as a result of the joint Power Project (announced in March 2012) currently underway and being undertaken by Katanga, Mutanda and Kansuki in partnership with SNEL.
Katanga produced its first copper cathode from the new solvent extraction plants and converted electro-winning facility during December 2012 as part of the Phase 4 project. The completion of this project will enable Katanga to increase total processing capacity and upgrade the quality of copper produced through the application of modern technologies. The Phase 4 project remains on target for mechanical completion in Q3 2013.
For further information please visit www.katangamining.com
Mutanda (Glencore interest: 60.0%)
In 2012, Mutanda produced 87,000 tonnes of copper in metal and concentrate from own sources, a 37% increase compared to 2011. 2012 copper cathodes production increased 90% to 83,500 tonnes.
2012 cobalt production was 8,500 tonnes, an 8% increase from 2011. Mutanda continues to increase cobalt production through the use of SO2 from its sulphuric acid and SO2 plant. A new power generation plant, dedicated to providing reliable power to the acid and SO2 plant, was commissioned in December 2012. Following completion of the cobalt circuit in Q4 2012, Mutanda has installed cobalt in hydroxide capacity of 23,000 tonnes per annum.
The feasibility study for the construction of a 100,000 tonnes (of copper contained) sulphide concentrator remains on track to be completed in Q1 2013.
In May 2012, Glencore acquired an additional 20% of Mutanda for a cash consideration of $ 340 million plus acquired shareholder debts of approximately $ 140 million. Glencore also has the right, subject to the terms of a put and call option agreement exercisable in December 2013, to acquire a further 20% in Mutanda for a cash consideration of $ 430 million.
As previously announced, the above transaction was the first step to achieve the merger of Mutanda and Kansuki, which is expected to form a combined entity having an installed capacity of 200,000 tonnes per annum of copper by the end of 2013. It is anticipated that the merger will be completed during H1 2013.
Kansuki (Glencore interest: 37.5%)
Glencore holds a 50% interest in Kansuki Investments Sprl which in turn holds a 75% interest in the owner of the Kansuki concession, thereby giving Glencore an effective interest of 37.5%. Kansuki is a 185 square kilometre copper and cobalt pre-development project which borders the Mutanda concession. A total of $ 507 million of capital expenditure for mine and plant development has been committed to, of which $ 413 million had been spent as at 31 December 2012. Exploration of the Kansuki concession is on-going.
Katanga, Mutanda and Kansuki - Power Project
Mutanda, Katanga and Kansuki are collectively undertaking a project to secure power for all three operations via the refurbishment of two turbines at the Inga dam. This project is expected to provide 450 megawatts of power by the end of 2015 (the "Power Project"). The project has started and is being executed in partnership with SNEL and EGMF, the project contractor. The estimated cost of $ 284 million will be paid by Mutanda, Katanga and Kansuki. This investment will be recovered via lower future energy tariffs.
Mopani (Glencore interest: 73.1%)
Mopani produced 99,000 tonnes of own copper in 2012 and 187,100 tonnes of total copper including third party sourced and toll material, reflecting a 2% and 8% decline respectively compared to 2011.
The reduction in total finished copper production primarily resulted from the planned biennial smelter shutdown. The small reduction in Mopani's own copper production was due to the temporary suspension of the heap leach process earlier in the year.
The $ 323 million Synclinorium shaft project to increase mine production, which is expected to come online during 2015, and the associated project to improve and modernise the smelter remain on track. In 2012, Mopani announced that the smelter upgrade project (including improving SO2 emission capture to above 97%) is expected to be completed by December 2013, 18 months ahead of the schedule initially agreed with the Zambian authorities.
Other Zinc (Los Quenuales, Sinchi Wayra, AR Zinc, Portovesme, Rosh Pinah)
The acquisition of Rosh Pinah (from 1 June 2012) and a strong performance by AR Zinc resulted in higher production of silver metal and lead concentrates in 2012. This was offset by lower production at Los Quenuales and Sinchi Wayra, as a result of the planned shift towards lower grade ore bodies, union issues at Los Quenuales and the nationalisation of the Colquiri mine at Sinchi Wayra.
The nationalisation of the Colquiri mine resulted in no tin being produced post June 2012.
Los Quenuales recently received community approval to develop a new ore area at Iscaycruz (Santa Este), which has estimated ore resources of five to seven million tonnes. The mine is expected to be operational in Q4 2013 and will reach an annual production of 20,000 tonnes of zinc contained in concentrates in 2014.
Other Copper (Cobar, Pasar, Punitaqui, Sable)
Metal production in 2012 was 40% lower than in 2011, due to a fire at Pasar that stopped production for approximately six months. Since the restart in July 2012, production has been in line or above those levels achieved during 2011.
2012 copper concentrate and silver contained in concentrate production were lower than 2011 levels by 13% and 9% respectively, primarily due to temporary operational issues at Cobar resulting from electrical failures and delays in underground development activities.
Completion of the new mine shaft at Cobar has been delayed due to poor ground conditions and is now expected in 2015.
Alumina/Aluminium
Sherwin Alumina (Glencore interest: 100%)
2012 production was 1.4 million tonnes, a 6% reduction compared to 2011. This reduction primarily relates to the overhaul of the calciner which was completed in Q1 2012. Production since then has been as expected.
Ferroalloys/Nickel/Cobalt
Glencore Manganese (Glencore interest: 100%)
Glencore acquired 100% of Vale's European manganese ferroalloys operations on 1 November 2012. The operations, located in Dunkirk, France and Mo I Rana, Norway, currently have the capacity to produce 150,000 tonnes and 110,000 tonnes of manganese ferroalloys per annum respectively.
Murrin Murrin (Glencore interest: 100%)
Own sourced production in 2012 was 33,400 tonnes of nickel and 2,400 tonnes of cobalt, an increase of 17% and 18% respectively compared to 2011, reflecting a record year of production for Murrin Murrin based on best ever throughput levels and plant availability.
Murrin Murrin has also successfully contained costs as part of its on-going 'Margin Improvement Plan' (in response to the lower nickel price and high Australian dollar environment) with further cost savings targeted in 2013.
Energy Products
Production data
|
thousand MT 1 |
Own |
Buy-in Coal |
2012 Total |
Own |
Buy-in Coal |
2011 Total |
Own |
|
|
|
|
|
|
|
|
|
|
Thermal coal |
|
|
|
|
|
|
|
|
Prodeco |
14 762 |
142 |
14 904 |
14 586 |
195 |
14 781 |
1% |
|
Shanduka (Export) |
440 |
- |
440 |
498 |
- |
498 |
- 12% |
|
Shanduka (Domestic) |
6 017 |
1 084 |
7 101 |
5 422 |
802 |
6 224 |
11% |
|
Umcebo (Export) |
205 |
- |
205 |
- |
- |
- |
n.m. |
|
Umcebo (Domestic) |
6 798 |
31 |
6 829 |
- |
- |
- |
n.m. |
|
Optimum (Export) |
7 347 |
- |
7 347 |
- |
- |
- |
n.m. |
|
Optimum (Domestic) |
6 266 |
495 |
6 761 |
- |
- |
- |
n.m. |
|
Total |
41 835 |
1 752 |
43 587 |
20 506 |
997 |
21 503 |
104% |
|
|
|||||||
|
thousand bbls |
2012 Total |
2011 Total |
Change |
|
|
|
|
|
|
Oil 1 |
|
|
|
|
Block I |
22 570 |
2 785 |
710% |
|
Total |
22 570 |
2 785 |
710% |
|
1 |
|||
Selected average commodity prices
|
|
|
|
|
2012 |
2011 |
Change |
|
|
|
|
|
|
|
|
|
S&P GSCI Energy Index |
|
|
330 |
333 |
- 1% |
|
|
Coal API2 ($/t) |
|
|
93 |
122 |
- 24% |
|
|
Coal API4 ($/t) |
|
|
93 |
116 |
- 20% |
|
|
Prodeco realised price ($/t) 1 |
|
|
85 |
95 |
- 11% |
|
|
South African Coal average realised export price ($/t) |
|
|
90 |
108 |
- 17% |
|
|
South African Coal average realised domestic price ($/t) |
|
|
31 |
43 |
- 28% |
|
|
Oil price - Brent ($/bbl) |
|
|
112 |
111 |
1% |
|
|
|
||||||
OPERATIONAL HIGHLIGHTS
Prodeco (Glencore interest: 100%)
Own production for 2012 was 14.8 million tonnes, up 1% on 2011. The significant growth at Calenturitas was offset by lower production at the La Jagua mine, due to a three month strike that concluded in October 2012.
Prodeco's expansion project is progressing to plan, excluding the short term impact of the La Jagua strike, and remains on track to deliver annualised production of 20 million tonnes by 2014.
The construction of the new direct loading port, Puerto Nuevo, is also on track and to budget, with commissioning expected in H1 2013. Puerto Nuevo will provide substantially higher annual throughput capacity with a lower operating cost per tonne.
South African Coal (Glencore interest: Shanduka Coal: 49.99%, Umcebo Mining: 43.66% and Optimum Coal: 67.01%)
2012 own production was 27.1 million tonnes, reflecting a significant increase compared to 2011. This increase largely resulted from the consolidation of production from Optimum and Umcebo from 1 January 2012.
South African Coal is currently focused on a number of expansion and development projects which are progressing well. At
Umcebo, the Wonderfontein project started production and railed its first coal during December 2012. At Shanduka and Umcebo, the definitive feasibility studies relating to the Springboklaagte and Argent projects remain on track to be completed in April 2013. At Optimum, construction has started at the Pullenshope underground brownfield project with first coal expected in Q2 2013, while licensing for the Koornfontein project has been delayed slightly to Q1 2013, with construction expected to start in Q2 2013. In addition, South African Coal, along with the other shareholders, has recently taken an active role in the management of the Kusipongo project at Kangra Coal (30% owned by Shanduka Coal).
Oil Exploration & Production (Glencore interest: Block I: 23.75%/Block O: 25.0%)
The Aseng field (Block I) in Equatorial Guinea has continued to perform well during 2012, producing 22.57 million barrels of
cumulative gross production at an average gross rate of approximately 61,700 barrels per day.
Development of the Alen field (Block O) in Equatorial Guinea remains on budget with first production scheduled for Q3 2013. All of the development wells have been drilled and completed and construction of the production platform continues as planned.
Glencore's first operated exploration well on the Oak prospect in the Bolongo Block, offshore Cameroon, was successfully drilled and declared an oil discovery in July 2012. The appraisal programme is planned for H2 2013.
Agricultural Products
Production data
|
thousand MT |
2012 Total |
2011 Total |
Change |
|
|
|
|
|
|
Farming |
674 |
827 |
- 19% |
|
Oilseed crushing |
2 779 |
2 008 |
38% |
|
Oilseed crushing long term toll agreement |
876 |
948 |
- 8% |
|
Biodiesel |
534 |
569 |
- 6% |
|
Rice milling |
248 |
304 |
- 18% |
|
Wheat milling |
1 061 |
1 001 |
6% |
|
Sugarcane processing |
1 256 |
906 |
39% |
|
Total |
7 428 |
6 563 |
13% |
Selected average commodity prices
|
|
|
|
|
2012 |
2011 |
Change |
|
|
|
|
|
|
|
|
|
S&P GSCI Agriculture Index |
|
|
|
459 |
490 |
- 6% |
|
CBOT corn no.2 price (US¢/bu) |
|
|
|
695 |
680 |
2% |
|
ICE cotton price (US¢/lb) |
|
|
|
80 |
137 |
- 42% |
|
CBOT soya beans (US¢/bu) |
|
|
|
1 466 |
1 317 |
11% |
|
NYMEX sugar # 11 price (US¢/lb) |
|
|
|
22 |
27 |
- 19% |
|
CBOT wheat price (US¢/bu) |
|
|
|
751 |
709 |
6% |
OPERATIONAL HIGHLIGHTS
Viterra (Glencore interest: 100%)
On 17 December 2012, Glencore completed the acquisition of Viterra, bringing immediate critical mass in the key grain markets of North America, via Viterra's Canadian operations, as well as materially expanding Glencore's existing operations in Australia.
Rio Vermelho (Glencore interest: 100%)
1.3 million tonnes of sugarcane were crushed in 2012, a 39% increase compared to 2011, which in turn produced 108,400 tonnes of Very High Pol ('VHP') sugar and 34,000 cubic metres of hydrous ethanol. The on-going expansion plan at Rio Vermelho continues to progress on schedule. The first phase of the cogeneration plant, eventually capable of supplying 200,000 megawatt hours of surplus electricity to the power grid at maturity of the project in 2015, will become operational during H2 2013.
Other Agricultural Products
Oilseed crushing
In 2012, oilseed crushing volumes increased 38%, reflecting the additional volumes crushed at the three acquired plants (Czech Republic, Poland and Ukraine) and the completion of the new plant constructed in Hungary.
Following the successful commissioning of Timbues (Argentina) in October 2012, the plant commenced crushing in December 2012.
Glencore Xstrata Proforma
Investors' attention is drawn to the fact that completion of the merger remains conditional upon the receipt of the outstanding regulatory approval in China, completion of the Xstrata court process, and Glencore giving effect to the commitments required by the European Commission. As indicated in the merger timing update dated 18 January 2013, the long stop date for the merger is now 15 March 2013.
METALS AND MINERALS - total
Pro forma production data
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Total Zinc contained |
MT |
1 589.9 |
894.8 |
2 484.7 |
1 609.1 |
885.1 |
2 494.2 |
- 1% |
|
Total Copper contained |
MT |
1 202.5 |
786.2 |
1 988.7 |
1 325.9 |
943.7 |
2 269.6 |
- 9% |
|
Total Lead contained |
MT |
320.6 |
288.0 |
608.6 |
308.4 |
272.8 |
581.2 |
4% |
|
Total Tin contained |
MT |
1.1 |
- |
1.1 |
2.2 |
- |
2.2 |
- 50% |
|
Total Gold (incl. Gold equivalents)2
|
toz |
1 559 |
753 |
2 312 |
1 700 |
610 |
2 310 |
- 8% |
|
Total Alumina |
MT |
- |
1 379 |
1 379 |
- |
1 460 |
1 460 |
n.m. |
|
Total Ferro manganese |
MT |
- |
17.3 |
17.3 |
- |
- |
- |
n.m. |
|
Total Silicon manganese |
MT |
- |
15.9 |
15.9 |
- |
- |
- |
n.m. |
|
Total Nickel contained |
MT |
109.3 |
100.9 |
210.2 |
106.1 |
96.8 |
202.9 |
3% |
|
Total Cobalt |
MT |
14.3 |
4.2 |
18.5 |
14.2 |
3.8 |
18.0 |
1% |
|
Total Ferrochrome |
MT |
938 |
- |
938 |
1 021 |
- |
1 021 |
- 8% |
|
Total Platinum |
toz |
80 |
- |
80 |
92 |
- |
92 |
- 13% |
COPPER ASSETS
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
African copper (Katanga, Mutanda, Mopani, Sable) |
|
|
|
|
|
|
||
|
Katanga |
|
|
|
|
|
|
|
|
|
Copper metal3 |
MT |
93.0 |
- |
93.0 |
91.2 |
- |
91.2 |
2% |
|
Cobalt |
MT |
2.1 |
- |
2.1 |
2.4 |
- |
2.4 |
- 13% |
|
Mutanda |
|
|
|
|
|
|
|
|
|
Copper metal3 |
MT |
87.0 |
- |
87.0 |
63.7 |
- |
63.7 |
37% |
|
Cobalt4 |
MT |
8.5 |
- |
8.5 |
7.9 |
- |
7.9 |
8% |
|
Mopani |
|
|
|
|
|
|
|
|
|
Copper metal3 |
MT |
99.0 |
88.1 |
187.1 |
101.4 |
103.0 |
204.4 |
- 2% |
|
Cobalt4 |
MT |
0.1 |
0.2 |
0.3 |
0.6 |
0.3 |
0.9 |
- 83% |
|
Other |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
- |
8.8 |
8.8 |
- |
2.0 |
2.0 |
n.m. |
|
Cobalt4 |
MT |
- |
0.7 |
0.7 |
- |
0.2 |
0.2 |
n.m. |
|
|
|
|
|
|
|
|
||
|
Total Copper metal3 |
MT |
279.0 |
96.9 |
375.9 |
256.3 |
105.0 |
361.3 |
9% |
|
Total Cobalt4 |
MT |
10.7 |
0.9 |
11.6 |
10.9 |
0.5 |
11.4 |
- 2% |
|
|
|
|
||||||
|
Collahuasi (Chile)5 |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
16.2 |
- |
16.2 |
15.8 |
- |
15.8 |
3% |
|
Copper in concentrates |
MT |
107.9 |
- |
107.9 |
183.6 |
- |
183.6 |
- 41% |
|
Silver in concentrates |
toz |
1 334 |
- |
1 334 |
1 786 |
- |
1 786 |
- 25% |
|
|
|
|
|
|
|
|
|
|
|
Antamina (Peru)6 |
|
|
|
|
|
|
|
|
|
Copper in concentrates |
MT |
150.8 |
- |
150.8 |
112.6 |
- |
112.6 |
34% |
|
Silver in concentrates |
toz |
4 203 |
- |
4 203 |
3 646 |
- |
3 646 |
15% |
|
|
|
|
|
|
|
|
|
|
|
Other South America (Alumbrera, Lomas Bayas, Altonorte, Tintaya, Antapaccay, Punitaqui) |
|
|
|
|
|
|||
|
Alumbrera (Argentina) |
|
|
|
|
|
|
|
|
|
Copper in concentrates |
MT |
135.7 |
- |
135.7 |
116.7 |
- |
116.7 |
16% |
|
Gold in concentrates and in doré |
toz |
364 |
- |
364 |
356 |
- |
356 |
2% |
|
Silver in concentrates and in doré |
toz |
1 487 |
- |
1 487 |
1 015 |
- |
1 015 |
47% |
|
Lomas Bayas (Chile) |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
73.3 |
- |
73.3 |
73.6 |
- |
73.6 |
- |
|
Altonorte (Chile) |
|
|
|
|
|
|
|
|
|
Copper anode7
|
MT |
- |
270.2 |
270.2 |
- |
311.0 |
311.0 |
n.m. |
|
Tintaya/Antapaccay (Peru) |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
8.8 |
- |
8.8 |
21.0 |
- |
21.0 |
- 58% |
|
Copper in concentrates |
MT |
43.0 |
- |
43.0 |
74.3 |
- |
74.3 |
- 42% |
|
Gold in concentrates |
toz |
17 |
- |
17 |
33 |
- |
33 |
- 48% |
|
Silver in concentrates |
toz |
501 |
- |
501 |
870 |
- |
870 |
- 42% |
|
Other |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
11.9 |
- |
11.9 |
9.7 |
- |
9.7 |
23% |
|
Silver in concentrates |
toz |
179 |
- |
179 |
210 |
- |
210 |
- 15% |
|
|
|
|
|
|
|
|
|
|
|
Total Copper metal |
MT |
82.1 |
- |
82.1 |
94.6 |
- |
94.6 |
- 13% |
|
Total Copper anode7 |
MT |
- |
157.2 |
157.2 |
- |
244.2 |
244.2 |
n.m. |
|
Total Copper in concentrates |
MT |
190.6 |
- |
190.6 |
200.7 |
- |
200.7 |
- 5% |
|
Total Gold in concentrates and in doré |
toz |
381 |
- |
381 |
389 |
- |
389 |
- 2% |
|
Total Silver in concentrates and in doré |
toz |
2 167 |
- |
2 167 |
2 095 |
- |
2 095 |
3% |
|
|
|
|
|
|
|
|
|
|
|
Australia and Asia (Ernest Henry, Mount Isa, Cobar, Pasar) |
|
|
|
|
|
|||
|
Ernest Henry |
|
|
|
|
|
|
|
|
|
Copper in concentrates |
MT |
34.1 |
- |
34.1 |
100.3 |
- |
100.3 |
- 66% |
|
Gold in concentrates |
toz |
40 |
- |
40 |
129 |
- |
129 |
- 69% |
|
Silver in concentrates |
toz |
194 |
- |
194 |
449 |
- |
449 |
- 57% |
|
Mount Isa |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
136.3 |
130.5 |
266.8 |
148.8 |
127.8 |
276.6 |
- 8% |
|
Copper in concentrates |
MT |
6.4 |
- |
6.4 |
- |
- |
- |
n.m. |
|
Silver in concentrates |
toz |
724 |
- |
724 |
726 |
- |
726 |
- |
|
Other |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
- |
89.6 |
89.6 |
- |
162.2 |
162.2 |
n.m. |
|
Copper in concentrates |
MT |
34.5 |
- |
34.5 |
44.7 |
- |
44.7 |
- 23% |
|
Silver in concentrates |
toz |
360 |
- |
360 |
409 |
- |
409 |
- 12% |
|
|
|
|
|
|
|
|
|
|
|
Total Copper metal |
MT |
136.3 |
220.1 |
356.4 |
148.8 |
290.0 |
438.8 |
- 8% |
|
Total Copper in concentrates |
MT |
75.0 |
- |
75.0 |
145.0 |
- |
145.0 |
- 48% |
|
Total Gold in concentrates |
toz |
40 |
- |
40 |
129 |
- |
129 |
- 69% |
|
Total Silver in concentrates |
toz |
1 278 |
- |
1 278 |
1 584 |
- |
1 584 |
- 19% |
|
|
|
|
|
|
|
|
|
|
|
North America (CCR, Horne, Kidd) |
|
|
|
|
|
|
|
|
|
CCR/Horne |
|
|
|
|
|
|
|
|
|
Copper metal |
MT |
- |
265.5 |
265.5 |
- |
264.0 |
264.0 |
n.m. |
|
Kidd |
|
|
|
|
|
|
|
|
|
Copper in concentrates |
MT |
34.4 |
- |
34.4 |
42.3 |
- |
42.3 |
- 19% |
|
Zinc in concentrates |
MT |
78.1 |
- |
78.1 |
71.5 |
- |
71.5 |
9% |
|
Silver in concentrates |
toz |
2 877 |
- |
2 877 |
2 602 |
- |
2 602 |
11% |
|
|
|
|
|
|
|
|
|
|
|
Total Copper metal |
MT |
- |
265.5 |
265.5 |
- |
264.0 |
264.0 |
n.m. |
|
Total Copper in concentrates |
MT |
34.4 |
- |
34.4 |
42.3 |
- |
42.3 |
- 19% |
|
Total Zinc in concentrates |
MT |
78.1 |
- |
78.1 |
71.5 |
- |
71.5 |
9% |
|
Total Silver in concentrates |
toz |
2 877 |
- |
2 877 |
2 602 |
- |
2 602 |
11% |
ZINC ASSETS
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Kazzinc (Kazakhstan) |
|
|
|
|
|
|
|
|
|
Zinc metal |
MT |
227.3 |
74.0 |
301.3 |
246.0 |
54.8 |
300.8 |
- 8% |
|
Lead metal |
MT |
26.8 |
55.7 |
82.5 |
35.6 |
66.2 |
101.8 |
- 25% |
|
Copper metal |
MT |
49.6 |
3.0 |
52.6 |
51.2 |
1.8 |
53.0 |
- 3% |
|
Gold |
toz |
474 |
87 |
561 |
390 |
39 |
429 |
22% |
|
Silver |
toz |
4 777 |
15 031 |
19 808 |
4 299 |
5 571 |
9 870 |
11% |
|
|
|
|
|
|
|
|
|
|
|
Australia (Mount Isa, McArthur River) |
|
|
|
|
|
|
|
|
|
Mount Isa |
|
|
|
|
|
|
|
|
|
Zinc in concentrates |
MT |
390.4 |
- |
390.4 |
357.0 |
- |
357.0 |
9% |
|
Lead in concentrates |
MT |
153.1 |
- |
153.1 |
130.7 |
- |
130.7 |
17% |
|
Silver in lead bullion |
toz |
5 927 |
951 |
6 878 |
5 516 |
1 029 |
6 545 |
7% |
|
McArthur River |
|
|
|
|
|
|
||
|
Zinc in concentrates |
MT |
202.1 |
- |
202.1 |
194.1 |
- |
194.1 |
4% |
|
Lead in concentrates |
MT |
40.4 |
- |
40.4 |
38.3 |
- |
38.3 |
5% |
|
Silver in concentrates |
toz |
1 820 |
- |
1 820 |
1 594 |
- |
1 594 |
14% |
|
|
|
|
|
|
|
|
|
|
|
Total Zinc in concentrates |
MT |
592.5 |
- |
592.5 |
551.1 |
- |
551.1 |
8% |
|
Total Lead in concentrates |
MT |
193.5 |
- |
193.5 |
169.0 |
- |
169.0 |
14% |
|
Total Silver in lead bullion |
toz |
5 927 |
951 |
6 878 |
5 516 |
1 029 |
6 545 |
7% |
|
Total Silver in concentrates |
toz |
1 820 |
- |
1 820 |
1 594 |
- |
1 594 |
14% |
|
|
|
|
|
|
|
|
|
|
|
Europe (Portovesme, San Juan de Nieva, Nordenham, Northfleet) |
|
|
|
|
|
|||
|
Total Zinc metal |
MT |
22.2 |
736.8 |
759.0 |
30.6 |
744.9 |
775.5 |
- 27% |
|
Total Zinc in oxide |
MT |
35.9 |
- |
35.9 |
21.2 |
- |
21.2 |
69% |
|
Total Lead metal |
MT |
- |
156.9 |
156.9 |
- |
130.1 |
130.1 |
n.m. |
|
Total Silver |
toz |
- |
7 249 |
7 249 |
- |
5 381 |
5 381 |
n.m. |
|
|
|
|
|
|
|
|
|
|
|
North America (Brunswick, CEZ Refinery, Perseverance) |
|
|
|
|
|
|||
|
Brunswick mine |
|
|
|
|
|
|
|
|
|
Zinc in concentrates |
MT |
185.7 |
4.7 |
190.4 |
209.0 |
- |
209.0 |
- 11% |
|
Lead in concentrates |
MT |
50.9 |
0.9 |
51.8 |
56.8 |
- |
56.8 |
- 10% |
|
Copper in concentrates |
MT |
7.8 |
0.3 |
8.1 |
8.8 |
- |
8.8 |
- 11% |
|
Silver in concentrates |
toz |
2 689 |
62 |
2 751 |
2 980 |
- |
2 980 |
- 10% |
|
Brunswick Smelting |
|
|
|
|
|
|
|
|
|
Lead metal |
MT |
- |
74.5 |
74.5 |
- |
76.5 |
76.5 |
n.m. |
|
Silver |
toz |
- |
12 359 |
12 359 |
- |
13 434 |
13 434 |
n.m. |
|
CEZ Refinery8 |
|
|
|
|
|
|
|
|
|
Zinc metal |
MT |
- |
72.6 |
72.6 |
- |
72.4 |
72.4 |
n.m. |
|
Perseverance mine |
|
|
|
|
|
|
|
|
|
Zinc in concentrates |
MT |
125.2 |
- |
125.2 |
135.0 |
- |
135.0 |
- 7% |
|
Copper in concentrates |
MT |
10.9 |
- |
10.9 |
9.8 |
- |
9.8 |
11% |
|
|
|
|
|
|
|
|
|
|
|
Total Zinc metal |
MT |
- |
72.6 |
72.6 |
- |
72.4 |
72.4 |
n.m. |
|
Total Zinc in concentrates |
MT |
310.9 |
4.7 |
315.6 |
344.0 |
- |
344.0 |
- 10% |
|
Total Lead metal |
MT |
- |
74.5 |
74.5 |
- |
76.5 |
76.5 |
n.m. |
|
Total Lead in concentrates |
MT |
50.9 |
0.9 |
51.8 |
56.8 |
- |
56.8 |
- 10% |
|
Total Copper in concentrates |
MT |
18.7 |
0.3 |
19.0 |
18.6 |
- |
18.6 |
1% |
|
Total Silver |
toz |
2 689 |
12 421 |
15 110 |
2 980 |
13 434 |
16 414 |
- 10% |
|
|
|
|
|
|
|
|
|
|
|
Antamina (Peru)6 |
|
|
|
|
|
|
|
|
|
Zinc in concentrates |
MT |
73.9 |
- |
73.9 |
79.4 |
- |
79.4 |
- 7% |
|
|
|
|
|
|
|
|
|
|
|
Other Zinc (Los Quenuales, Sinchi Wayra, AR Zinc, Rosh Pinah) |
|
|
|
|
|
|||
|
Zinc metal |
MT |
30.8 |
6.7 |
37.5 |
30.5 |
13.0 |
43.5 |
1% |
|
Zinc in concentrates |
MT |
218.3 |
- |
218.3 |
234.8 |
- |
234.8 |
- 7% |
|
Lead metal |
MT |
11.8 |
- |
11.8 |
11.9 |
- |
11.9 |
- 1% |
|
Lead in concentrates |
MT |
37.6 |
- |
37.6 |
35.1 |
- |
35.1 |
7% |
|
Copper in concentrates |
MT |
1.7 |
- |
1.7 |
0.8 |
- |
0.8 |
113% |
|
Silver metal |
toz |
783 |
- |
783 |
754 |
- |
754 |
4% |
|
Silver in concentrates |
toz |
7 681 |
- |
7 681 |
8 394 |
- |
8 394 |
- 8% |
|
Tin in concentrates |
MT |
1.1 |
- |
1.1 |
2.2 |
- |
2.2 |
- 50% |
NICKEL ASSETS
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Integrated Nickel Operations (Sudbury, Raglan, Nikkelverk) |
|
|
|
|
|
|||
|
Sudbury - Mine/mill |
|
|
|
|
|
|
|
|
|
Nickel in concentrates |
MT |
20.4 |
6.2 |
26.6 |
19.8 |
2.9 |
22.7 |
3% |
|
Copper in concentrates |
MT |
52.5 |
5.3 |
57.8 |
47.5 |
2.4 |
49.9 |
11% |
|
Cobalt in concentrates |
MT |
0.3 |
0.2 |
0.5 |
0.3 |
0.1 |
0.4 |
- |
|
Raglan |
|
|
|
|
|
|
|
|
|
Nickel in concentrates |
MT |
28.6 |
- |
28.6 |
27.3 |
- |
27.3 |
5% |
|
Copper in concentrates |
MT |
7.1 |
- |
7.1 |
7.2 |
- |
7.2 |
- 1% |
|
Cobalt in concentrates |
MT |
0.6 |
- |
0.6 |
0.6 |
- |
0.6 |
- |
|
Nikkelverk |
|
|
|
|
|
|
|
|
|
Nickel metal |
MT |
- |
91.7 |
91.7 |
- |
92.4 |
92.4 |
n.m. |
|
Copper metal |
MT |
- |
37.9 |
37.9 |
- |
36.3 |
36.3 |
n.m. |
|
Cobalt metal |
MT |
- |
3.0 |
3.0 |
- |
3.1 |
3.1 |
n.m. |
|
|
|
|
|
|
|
|
|
|
|
Total Nickel metal |
MT |
- |
91.7 |
91.7 |
- |
92.4 |
92.4 |
n.m. |
|
Total Nickel in concentrates |
MT |
49.0 |
6.2 |
55.2 |
47.1 |
2.9 |
50.0 |
4% |
|
Total Copper metal |
MT |
- |
37.9 |
37.9 |
- |
36.3 |
36.3 |
n.m. |
|
Total Copper in concentrates |
MT |
59.6 |
5.3 |
64.9 |
54.7 |
2.4 |
57.1 |
9% |
|
Total Cobalt metal |
MT |
- |
3.0 |
3.0 |
- |
3.1 |
3.1 |
n.m. |
|
Total Cobalt in concentrates |
MT |
0.9 |
0.2 |
1.1 |
0.9 |
0.1 |
1.0 |
- |
|
|
|
|
|
|
|
|
|
|
|
Falcondo |
|
|
|
|
|
|
|
|
|
Nickel in ferronickel |
MT |
15.2 |
- |
15.2 |
13.5 |
- |
13.5 |
13% |
|
|
|
|
|
|
|
|
|
|
|
Australia (XNA, Murrin Murrin) |
|
|
|
|
|
|
|
|
|
Total Nickel metal |
MT |
33.4 |
3.0 |
36.4 |
28.5 |
1.5 |
30.0 |
17% |
|
Total Nickel in concentrates |
MT |
11.7 |
- |
11.7 |
17.0 |
- |
17.0 |
- 31% |
|
Total Copper in concentrates |
MT |
0.6 |
- |
0.6 |
0.9 |
- |
0.9 |
- 33% |
|
Total Cobalt metal |
MT |
2.4 |
0.1 |
2.5 |
2.0 |
0.1 |
2.1 |
20% |
|
Total Cobalt in concentrates |
MT |
0.3 |
- |
0.3 |
0.4 |
- |
0.4 |
- 25% |
Aluminium/Alumina assets
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Sherwin |
|
|
|
|
|
|
|
|
|
Alumina |
MT |
- |
1 379 |
1 379 |
- |
1 460 |
1 460 |
n.m. |
Ferroalloys/PGM assets
|
thousand ¹ |
|
Using feed from own sources |
Using feed from third party |
2012 Total |
Using feed from own sources |
Using feed from third party |
2011 Total |
Own feed change |
|
|
|
|
|
|
|
|
|
|
|
Ferro manganese |
MT |
- |
17.3 |
17.3 |
- |
- |
- |
n.m. |
|
Silicon manganese |
MT |
- |
15.9 |
15.9 |
- |
- |
- |
n.m. |
|
Ferrochrome |
MT |
938 |
- |
938 |
1 021 |
- |
1 021 |
- 8% |
|
Platinum |
toz |
80 |
- |
80 |
92 |
- |
92 |
- 13% |
|
1 Controlled industrial assets and JVs only. Production is on a 100% basis, except as stated. 2 Gold/Silver conversion ratios of 1/53.54 and 1/44.53 for 2012 and 2011 respectively based on average prices. 3 Copper metal includes copper contained in copper concentrates and blister copper. 4 Cobalt contained in concentrates and hydroxides. 5 The Enlarged Group's pro-rata share of Collahuasi production (44%) 6 The Enlarged Group's pro-rata share of Antamina production (33.75%) 7 113,000 tonnes (2011: 66,800 tonnes) of copper anode produced at Altonorte is refined to produce copper cathode at either Mount Isa or CCR and hence is excluded from the totals 8 The Enlarged Group's pro-rata share of CEZ production (25%) 9 Reflects the Enlarged Group's 79.5% share of the Xstrata-Merafe Chrome Venture 10 Consolidated 100% of Eland and 50% of Mototolo
|
||||||||
energy PRODUCTS
Pro forma production data
Coal assets
|
Million MT 1 |
Own |
Buy-in Coal |
2012 Total |
Own |
Buy-in Coal |
2011 Total |
Own production change |
|
|
|
|
|
|
|
|
|
|
Australian coking coal |
6.9 |
- |
6.9 |
7.6 |
- |
7.6 |
- 9% |
|
Australian thermal coal (Export) |
43.8 |
- |
43.8 |
37.1 |
- |
37.1 |
18% |
|
Australian thermal coal (Domestic) |
5.1 |
- |
5.1 |
7.4 |
- |
7.4 |
- 31% |
|
Australian semi-soft coal |
4.3 |
- |
4.3 |
5.3 |
- |
5.3 |
- 19% |
|
South African thermal coal2
(Export)
|
21.1 |
- |
21.1 |
9.6 |
- |
9.6 |
120% |
|
South African thermal coal2
(Domestic) |
24.7 |
1.6 |
26.3 |
12.4 |
0.8 |
13.2 |
99% |
|
Prodeco (Colombia) thermal coal |
14.8 |
0.1 |
14.9 |
14.6 |
0.2 |
14.8 |
1% |
|
Cerrejon (Colombia) thermal coal3
|
11.6 |
- |
11.6 |
10.8 |
- |
10.8 |
7% |
|
Total coal |
132.2 |
1.8 |
134.0 |
104.8 |
1.0 |
105.8 |
26% |
|
1 2 3 |
|||||||
OiL assets
|
thousand bbls |
2012 Total |
2011 Total |
Change |
|
|
|
|
|
|
Oil 1 |
|
|
|
|
Block I |
22 570 |
2 785 |
710% |
|
Total |
22 570 |
2 785 |
710% |
|
1 |
|||
Selected average commodity prices
|
|
2012 |
2011 |
Change |
|
|
|
|
|
|
Australian coking coal average realised export price ($/t) |
198 |
265 |
- 25% |
|
Australian thermal coal average realised export price ($/t) |
102 |
110 |
- 7% |
|
Australian thermal coal average realised domestic price ($/t) |
41 |
43 |
- 5% |
|
Australian semi-soft coal average realised export price ($/t) |
159 |
202 |
- 21% |
|
South African thermal coal average realised export price ($/t) |
96 |
101 |
- 5% |
|
South African thermal coal average realised domestic price ($/t) |
29 |
32 |
- 9% |
|
Cerrejon (Colombia) thermal coal average realised export price ($/t) |
89 |
101 |
- 12% |
|
Prodeco (Colombia) thermal coal average realised export price ($/t) |
85 |
95 |
- 11% |
agricultural products
Pro forma production data including Viterra
|
thousand MT 1 |
2012 Total |
2011 Total |
Change |
|
|
|
|
|
|
Farming |
674 |
827 |
- 19% |
|
Oilseed crushing |
3 328 |
2 268 |
47% |
|
Oilseed crushing long term toll agreement |
876 |
948 |
- 8% |
|
Biodiesel |
534 |
569 |
- 6% |
|
Rice milling |
248 |
304 |
- 18% |
|
Wheat milling |
1 061 |
1 001 |
6% |
|
Sugarcane processing |
1 256 |
906 |
39% |
|
Malt |
491 |
440 |
12% |
|
Pasta |
283 |
309 |
- 8% |
|
Total |
8 751 |
7 572 |
16% |
|
1 |
|||
Forward looking statements
This document contains statements that are, or may be deemed to be, "forward looking statements". These forward looking statements may be identified by the use of forward looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "will", "could", or "should" or in each case, their negative or other variations thereon or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and include, but are not limited to, statements regarding Glencore's beliefs, opinions or current expectations concerning, among other things, the business, financial condition, results of operations, prospects, strategies and plans of Glencore.
By their nature, forward looking statements involve known and unknown risks and uncertainties, many of which are beyond Glencore's control. Forward looking statements are not guarantees of future performance and may and often do differ materially from actual results. Important factors that could cause these uncertainties include, but are not limited to, those discussed under "Principal risks and uncertainties "in section 1.7 of Glencore's Annual Report 2011, the section headed "Risks and uncertainties "in Glencore's Interim Report 2012 and the section headed "Risk factors "in Glencore's prospectus dated 31 May 2012 (as supplemented from time to time) filed in connection with the proposed merger with Xstrata plc.
No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing Glencore. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward looking statements.
Forward looking statements speak only as of the date of this document. Other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure and Transparency Rules of the Financial Services Authority and the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited), Glencore is not under any obligation and Glencore and its affiliates expressly disclaim any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
No statement in this document is intended as a profit forecast or a profit estimate and no statement in this document should be interpreted to mean that earnings per Glencore share for the current or future financial years would necessarily match or exceed the historical published earnings per Glencore share.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities. The making of this document does not constitute a recommendation regarding any securities.
This information is provided by RNS
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