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FIRST QUANTUM MINERALS LT LTD.
ANNUAL GENERAL MEETING
PHI HILI LIP P PASC SCALL LL
CHAI AIRMAN MAN & CHIEF EF EX EXEC ECUTIVE UTIVE OFFICER ICER
FIRST QUANTUM MINERALS LT LTD. ANNUAL GENERAL MEETING PHI HILI - - PowerPoint PPT Presentation
FIRST QUANTUM MINERALS LT LTD. ANNUAL GENERAL MEETING PHI HILI - - PowerPoint PPT Presentation
FIRST QUANTUM MINERALS LT LTD. ANNUAL GENERAL MEETING PHI HILI LIP P PASC SCALL LL CHAI AIRMAN MAN & CHIEF EF EX EXEC ECUTIVE UTIVE OFFICER ICER CLI LIVE VE NEWALL LL PRES ESIDE IDENT NT & DIRECT ECTOR OR AN
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CLI LIVE VE NEWALL LL
PRES ESIDE IDENT NT & DIRECT ECTOR OR
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AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 MO 2 MONTHS THS
STRENGTHENED OUR OPERATING BASE
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REINFORCED THE BALANCE SHEET
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ADVANCED OUR COBRE PANAMA PROJECT
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Brought the new Sentinel mine into commercial production Long-life mine Ramping up & transitioning to terrace layout Capacity to produce over 250,000 tonnes of copper in concentrate annually
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Strong operations at Kansanshi complex Mine performance benefitting from process & margin improvement work Smelter set sequential records for throughput and copper production New 3-year labour agreement signed and effective January 2017
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Las Cruces mine hits its stride Most consistent operations since start-up Maintaining a low unit cost profile Researching potential for mine life extension
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 MO 2 MONTHS THS
STRENGTHENED OUR OPERATING BASE
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Smaller, more mature mines Good contributors to earnings & cash flow Guelb Moghrein
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Smaller, more mature mines Good contributors to earnings & cash flow Çayeli
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Smaller, more mature mines Good contributors to earnings & cash flow Pyhäsalmi
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Smaller, more mature mines Together Guelb Moghrein, Çayeli and Pyhäsalmi contributed:
$125 million in operating profit in 2016
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL PAST 12 2 MON ONTHS THS
STRENGTHENED OUR OPERATING BASE
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Ravensthorpe Low-cost nickel producer Long-life mine Challenging nickel price environment
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL 12 2 MONTH ONTHS
STRENGTHENED OUR OPERATING BASE
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A STRONG ONG START T TO O 20 2017
131 140 Q1 2016 Q1 2017
Copper Sales 000’s tonnes
119 132 Q1 2016 Q1 2017
Copper Production 000’s tonnes
Hi Higher ye year ar-over ver-year year co coppe pper r pr production duction & & sale les
Generated $265 million comparative EBITDA & $239 million of cash flow
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AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL 12 M 2 MONTH ONTHS
Sold the Kevitsa operation Restructured the balance sheet Implemented & maintaining a focused sales hedge program Total proceeds of $732 million Improved debt maturity profile No senior debt due until 2021 when Cobre Panama is expected to be well in production and generating cash flow Reduced revolving & senior term debt Protecting cash flows, in a low metal price environment, ahead of the completion of Cobre Panama
REINFORCED THE BALANCE SHEET
Outlook for First Quantum upgraded to STABLE by S&P Ratings Agency
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- Total project over 50% complete
- Mining concession extended for a 2nd 20-year term to
February 2037
- Heading for peak construction activity
- Power station and associated infrastructure
prioritized for early completion
- Power production expected in Q4 2017 from the 1st
150MW generating set
- The 2nd 150MW set expected to follow in the 1st half of
2018
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL 12 M 2 MONTH ONTHS
ADVANCING OUR COBRE PANAMA PROJECT
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- At mine site, 6 of the 7 mills installed
- Installing the large gearless mill drives, with 3 mill
drives fully complete and a further 3 installed and well progressed to completion
- Other areas of the project well underway in
construction
- Cobre Panama will benefit from learnings from our
Sentinel mine
- Targeting a phased commissioning in 2018 followed by
continued ramp up in 2019
AN EVENTFUL NTFUL AND SU SUCCESSFUL ESSFUL 12 M 2 MONTH ONTHS
ADVANCING OUR COBRE PANAMA PROJECT
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COBRE E PANAMA AMA PROGRE RESS SS – PORT T & POW OWER ER STATION TION OVERVIEW VIEW
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COB OBRE RE PANAMA MA PROGRESS OGRESS – POR ORT T SU SUBS BSTATION TION
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COB OBRE RE PANAMA MA PROGRESS OGRESS – POWER OWER STATION ION OVERVI ERVIEW EW
Set 1 Set 2
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COB OBRE RE PANAMA MA PROGRESS OGRESS – POWER OWER STATION ION
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COB OBRE RE PANAMA MA PROGRESS OGRESS – POWER OWER STATION ION
Set 1 Set 2
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COB OBRE RE PANAMA MA PROGRESS OGRESS – POWER OWER STATION ION
Set 1 Set 2
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COB OBRE RE PANAMA MA PROGRESS OGRESS – 23 230K 0KV V SW SWITCHY TCHYARD ARD
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COB OBRE RE PANAMA MA PROGRESS OGRESS – PLA LANT T AREA EA OVERVI ERVIEW EW
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COB OBRE RE PANAMA MA PROGRESS OGRESS – BOXCUT UTS S & & PRE-STRIP TRIP
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COBRE E PANAMA AMA PROGRE RESS SS – TAILIN ILINGS GS MANAGEMENT EMENT FACILIT ILITY Y DEC ECANT NT TUNNEL EL
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COBRE E PANAMA AMA PROGRE RESS SS – TAILIN ILINGS GS MANAGEMENT EMENT FACILIT ILITY Y NORTH H WALL
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Acquired in August 2014 Located in the Puna region of Salta Province An outstanding copper deposit Conducting environmental impact assessment studies; expected to conclude in 2nd quarter 2017 Commercial & logistics aspects being addressed
A ROB OBUS UST T PROJE OJECT CT PIPELINE ELINE
TACA TACA PROJECT, ARGENTINA
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Acquired in December 2010 Located in the Apurimac Department of southern Peru One of the world’s major undeveloped copper deposits Focused on the community and environmental aspects of the project
A ROB OBUS UST T PROJE OJECT CT PIPELINE ELINE
HAQUIRA PROJECT, PERU
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FIRS RST T QUANTUM TUM MINERALS ERALS
PLATFORM OF HIGH-QUALITY, EFFICIENT OPERATIONS
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HEALTHY BALANCE SHEET
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ROBUST COPPER PROJECT PIPELINE
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INDUSTRY LEADING PROJECT DEVELOPMENT EXPERTISE
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FIRST QUANTUM MINERALS LT LTD.
ANNUAL GENERAL MEETING
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PHI HILI LIP P PASC SCALL LL
CHAI AIRMAN MAN & CHIEF EF EX EXEC ECUTIVE UTIVE OFFICER ICER
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FIRST QUANTUM MINERALS LT LTD.
ANNUAL GENERAL MEETING