PRESS RELEASE
XSTRATA COPPER
CREATES NEW DIVISION
IN THE SOUTH OF
PERU
Lima, 19 November 2007
Xstrata
Copper today announces an important organisational change with the creation of
the Southern Peru Division, headquartered out of the city of Arequipa.
"This
initiative is directly related to Xstrata Copper's growth strategy in Peru,"
said Xstrata Copper’s Chief Executive Charlie Sartain.
"The consolidation of our existing operations and projects in Southern Peru within a regionally based organisation will
enable us to rapidly develop this division into one of our major global copper
businesses. It also confirms our long term commitment to our investments in Peru,”
he said.
The
new division will be responsible for the management of the Tintaya
mining operation, the Las Bambas and Antapaccay development projects, regional exploration and
the development of business initiatives in southern Peru.
Jos�
Mar�n, formerly General Manager of Tintaya, will lead the Southern Peru Division as its Chief
Operating Officer. Luis Rivera, formerly Technical Services Manager at the
Xstrata-managed Minera Alumbrera
mine in Argentina,
will replace Jos� Mar�n as General Manager of Tintaya.
At
the same time, Ronald Luethe will continue as General
Manager, Southern Peru Projects and Domingo Drago
will assume the role of General Manager Corporate Affairs of the new division.
Ends
Notes to editors
Xstrata Copper
commenced its business activities in Peru in August 2004 after securing
the right to explore and option to develop the Las Bambas
project through an international bidding process. Las Bambas
is in Grau and Cotabambas
provinces in Apurimac region.
On 18 May 2006,
Xstrata Copper acquired Tintaya in the province of Espinar, Cusco
region. Tintaya is Peru's fourth largest copper
producer with annual production of approximately 120,000 tonnes of copper in
cathodes and concentrates. On 21 August 2006, Xstrata Copper obtained a 33.75%
share in the Antamina mine through the acquisition by
Xstrata Plc of the Canadian mining company Falconbridge, bringing its
attributable annual copper production in Peru to approximately 240,000
tonnes.
ABOUT XSTRATA PLC
Xstrata is a global diversified mining group, listed on
the London and Swiss Stock Exchanges, with its
headquarters in Zug, Switzerland. Xstrata’s
businesses maintain a meaningful position in seven major international
commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel,
vanadium and zinc, with additional exposures to platinum group metals, gold,
cobalt, lead and silver, recycling facilities and a suite of global technology
products, many of which are industry leaders. The Group's operations and
projects span 18 countries: Argentina,
Australia, Brazil, Canada,
Chile, Colombia, the Dominican
Republic, Germany,
New Caledonia, Norway,
Papua New Guinea, Peru, the Philippines,
South Africa, Spain, Tanzania,
the USA and the UK.
Xstrata employs approximately 50,000 people, including contractors.
ABOUT XSTRATA COPPER
Headquartered in Brisbane,
Xstrata Copper is one of the commodity business units within the major global
diversified mining group Xstrata plc. Its operations and projects span eight
countries: Australia, Argentina, Chile,
Peru, Canada, the USA,
the Philippines and Papua New Guinea.
Its operations are administered by five separate divisions, based close to the
mining operations, namely the North Queensland, Alumbrera,
North Chile, Southern Peru and Canada
divisions. It also has a recycling business (Xstrata Recycling) with
plants in the United States
and offices in Canada and Asia.
Xstrata Copper is the fourth largest global
copper producer with annual managed production of over one million tonnes.
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Xstrata Services (UK)
Limited. Registered in England & Wales, Company No:
04365240.
Registered office: Panton House, 25 Haymarket, London, SW1Y 4EN
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