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James Wyatt-Tilby Pranill Ramchander Paul Galloway
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Emily Blyth Shamiela Letsoalo Edward Kite
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Notes to editors:
Anglo American Norte is comprised of Mantos Blancos and Mantoverde, two well established open-pit copper mines in northern Chile. The mines have been owned and operated by Anglo American since 1980 and 1995 respectively.
Mantos Blancos Mantoverde
Production 2014 52,400 tonnes 51,800 tonnes
1H 2015 29,000 tonnes 23,800 tonnes
C1 unit cost1 2014 $2.83/lb $2.10/lb
1H 2015 $2.39/lb $2.07/lb
EBITDA 2014 $16m $110m
1H 2015 $1m $15m1
1C1 Costs exclude internal cost recharges, TC/RCs and by-products
At 31 December 2014, and as stated in the Anglo American Annual Report 2014, Mantos Blancos had a Reserve Life of ten years and Mantoverde a Reserve Life of five years, with both mines offering life extension opportunities.
The contingent payments of up to $200 million are made up of: up to $50 million dependent upon the average copper price from today through to three months post-closing, with a ratchet beginning at $2.35/lb; up to $100 million payable as a percentage of net revenues over a four year period post-closing dependent upon the copper price with a ratchet beginning at $3.00/lb; and $50 million upon any future decision to pursue the sulphide life extension project at the Mantoverde mine.
Audley Capital LLP is a well known investment firm which has focused primarily on the naturalresources sector for the past 10 years, and has completed a number of significant transactions. John Mackenzie joined Audley in January 2014 to lead its mining investments following a 24-year career with Anglo American, ultimately serving as CEO of Anglo American’s Copper business.
www.audleycapital.com
The Orion Mine Finance Group is one of the world’s leading mining-focused investment businesses with approximately $1.86 billion under management, specialising in providing flexible capital investment solutions to mining companies in the base and precious metals sectors. Orion has demonstrated capability in debt, equity, convertibles, streaming, and royalty investments. In addition, the Orion Mine Finance team has experience in the physical metals markets, such as facilitating the purchase, metal financing, transporting, processing and selling of a mine’s output to end customers.
www.orionminefinance.com
Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from bulk commodities and base metals to precious metals and diamonds (through De Beers) – to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com