Tuesday, July 31, 2012

Xstrata Copper commences open pit mining at Mount Margaret Mining project

Production Report for the six months ended 30 June 2012
¡ Newly commissioned expansions and improved productivity delivered stronger second quarter production in coal, copper, nickel, zinc and lead compared to the first quarter
¡ Total mined copper production, up by 7% quarter-on-quarter, included volumes from the Antamina expansion which successfully commissioned in March. We continue our transition to new mines and expansions that herald the start of increased copper production from the second half of 2012
¡ Thermal coal volumes increased across all our regions, Australia, South Africa and Colombia, benefiting from new mines and improved productivity at existing operations compared to the same period in 2011
¡ Mined nickel and ferro-nickel production rose by 5% compared to first half of 2011, following improved volumes and higher grades at our Canadian operations and a full six-month contribution from the Falcondo ferronickel operation
¡ A total of ten major approved growth projects will reach commissioning in 2012: Antamina (already commissioned), Antapaccay, Lomas Bayas, Mount Margaret (copper), Ravensworth North and Ulan open cut (coal), Koniambo (nickel), Tswelopele (ferrochrome pelletising plant) and Lady Loretta and George Fisher (zinc). The commissioning of tier one growth projects will reduce overall operating costs and improve the quality and robustness of our portfolio throughout the commodity cycle.

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