Highlights
-
Group turnover
(US$m)2,962.6
2008: 3,372.6
-
Year-end net cash
(US$m)1,595.7
2008: 2,919.1
-
Earnings per share
(US cents)67.7
2008: 85.5 (excluding exceptional items);
173.1 (including exceptional items)2 -
Total dividends per ordinary share3 (US cents)
23.4
2008: 60.0 (reflecting the exceptional gain on disposal in that year)
Strong operating performance with copper production of 442,500 tonnes, ahead of the original forecast for the year. Molybdenum production unchanged at 7,800 tonnes.
Reduced operating costs, with weighted average cash costs excluding by-product credits down 7% to 120.3 cents1.
Financial position further strengthened in challenging market conditions, with US$1.8 billion raised in two major financings.
Continued progress with capital projects. The plant expansion at Los Pelambres was substantially complete by the end of 2009, and the Esperanza project is due to start commissioning by the end of 2010.
Increased potential through successful exploration from the Group's internal team and growing portfolio of international early-stage exploration and evaluation agreements.
1 Cash costs are a measure of the cost of operational production expressed in terms of US cents per pound of payable copper produced. Further details are given in Note (c) to the financial statements.
2 There were no exceptional items in the year ended 31 December 2009. Details of the 2008 exceptional items are set out in Note 5 to the financial statements.
3 Total dividends represent dividends proposed in relation to the year.