Tuesday, January 31, 2012


Production Report for the 12 months ended 31 December 2011
Highlights:
  • Record annual production from our Australian thermal coal operations following the successful commissioning of the greenfield Mangoola mine on budget and ahead of schedule, the expansion of Newlands Underground thermal coal operation and a strong second half performance;
  • Record production of mined nickel, including first ore ahead of schedule from the Kikialik expansion at Raglan mine and record nickel metal volumes from a second successive record year at Nikkelverk;
  • We completed an expansion to extend the life of the Kidd copper mine in Canada on time and within budget and began commissioning the expansion at the Antamina copper-zinc joint venture in Peru at the end of 2011;
  • During the second half, we commissioned the 120,000 tonnes per annum Black Star Deeps and 40,000 tonnes per annum Handlebar Hill zinc-lead projects on schedule and on budget;
  • Our Falcondo ferronickel operation in the Dominican Republic exceeded expectations to operate at an annual rate of almost 15,000 tonnes per annum, following its restart in February;
  • We approved seven key projects representing total capital expenditure of $2.6 billion during the year:
  • The 7 million tonnes per annum Ulan Open Cut thermal coal project in Australia;
  • The Tweefontein optimisation coal project in South Africa, which will, subject to receipt of final environmental approvals, produce 4 million tonnes per annum of thermal coal;
  • The 6,000 tonnes per annum Fraser Morgan nickel mine and expansion to 40,000 tonnes per annum at Raglan nickel mine, both in Canada;
  • Our share of capital to expand the joint venture Cerrejón thermal coal operation in Colombia to 40 million tonnes per annum;
  • The 126,000 tonnes per annum greenfield Lady Loretta zinc project in the Mount Isa region, Australia; and
  • Mount Margaret, a 30,000 tonnes per annum copper project in Australia.
  • During 2011, we announced significant increases in mineral resource estimates at the Antamina copper and zinc mine and Las Bambas and Coroccohuayco copper projects in Peru, the El Pachón copper project in Argentina and the Frieda River copper-gold project in Papua New Guinea.
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