|
Report Date : |
13.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
COMPAŅIA MINERA DOŅA INES DE COLLAHUASI
S.C.M. |
|
|
|
|
Registered Office : |
Av. Andrés Bello 2687 Piso 11 - Las Condes, Santiago, XIII Region Metropolitana |
|
|
|
|
Country : |
Chile |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.04.1983 |
|
|
|
|
Legal Form : |
Contractual Mining Company |
|
|
|
|
Line of Business : |
Copper Mining Company |
|
|
|
|
No. of Employees : |
2.605 employees |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Chile - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for more than one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Since 1999, growth has averaged 4% per year. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 59 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico. Over the past seven years, foreign direct investment inflows have quadrupled to some $15 billion in 2010, but foreign direct investment had dropped to about $7 billion in 2009 in the face of diminished investment throughout the world. The Chilean government conducts a rule-based countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and allowing deficit spending only during periods of low copper prices and growth. As of November 2011, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $18 billion. Chile used this fund to finance fiscal stimulus packages during the 2009 economic downturn. In December 2009, the OECD invited Chile to become a full member, after a two year period of compliance with organization mandates, and in May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. The economy started to show signs of a rebound in the fourth quarter of 2009, and GDP grew 5.1% in 2010 and 6.5% in 2011. Chile achieved this growth despite the 8.8 magnitude earthquake that struck in February 2010, which was one of the top 10 strongest earthquakes on record. The earthquake and subsequent tsunamis it generated caused considerable damage near the epicenter, located about 70 miles from Concepcion - and about 200 miles southwest of Santiago.
|
Source : CIA |
COMPAŅIA MINERA
DOŅA INES DE COLLAHUASI S.C.M.
TAX : 89.468.900-5
Av. Andrés Bello 2687 Piso 11 - Las Condes
Santiago
XIII Region Metropolitana
CHILE
Telephone : 56-2-3626500
Fax : 56-2-3626569
E_Mail : meyanez@collahuasi.cl
Web Site : www.collahuasi.cl
Postal Code : 6760276
Started :
1983
Total Employees : 2.605
Payments : Prompt
Financial Sit. : Good
Economic Sit. :
Excellent
Sales :
000's$ 2.000.918.153.-
Net worth :
000's$ 2.081.959.816.-
Current profit :
000's$ 877.308.997.-
Capital :
000's$ 112.017.465.-
Sic(s) : 1021
Line of Business: Copper mining company.-
If additional information is received or present information is
rectified, this
recommendation may be modified.
Payment Scoring = [ 100 ]
Financial
indicators
According to last financial statement, subject shows a good financial
situation,
as indicated in:
** Normal Working Capital
** Excellent Current Liquidity Ratio
** Good Acid Test Ratio
Economic situation is excellent, as reflected in:
** Low Current Indebtedness Ratio
** Low Total Indebtedness Ratio
** Excellent Solvency Ratio
** Excellent Profitability Over Sales Ratio
** Excellent Profitability Over Assets Ratio
** Excellent Profitability Over Net Worth Ratio
Commercial Bulletin : As at
08/10/2012 subject does not register protested
checks, bank drafts
nor promissory notes in the
commercial
information bulletin
Labor Bulletin : As at
08/10/2012 does not register labor infringements
Previsional Bulletin : As at
08/10/2012 does not register pension fund's
infringements
Consolidated delinquency : As at 08/10/2012, subject does not register
any
delinquent bill
Suppliers' trade
references are supplied as follows:
Detail of References
Old : Since 2003
Last purchase : 07-2012
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : -
Owes : -
Due : Does not Register
Paying Comments: Good
Old : Since 2000
Last purchase : 07-2012
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$)
100.000
Owes : -
Due : Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 28.000
Old : Since 2007
Last purchase : 07-2012
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 50.000
Owes : -
Due : Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 20.000
Old : Since 2002
Last purchase : 07-2012
Terms : 30 days
Payment : Prompt
Notes : bank transfer
Credit : -
Owes : -
Due : Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 35.000
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch.
Payment. Notes (000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2002 07-12
Prompt bank transfer - -
Since 2007 10-11 Prompt order form 50.000 -
Since 2000 10-11
Prompt invoice 100.000 -
Since 2007 07-12
Prompt order form 50.000 -
Since 2007 11-10
Prompt order form 50.000 -
Since 2001 11-10
Prompt invoice Open None
Since 2002 11-10
Prompt bank transfer - -
Since 2002 08-10
Prompt order form - -
Since 2005
Cash invoice - None
Since 2001 12-08
Prompt invoice Open None
Since 1999
Prompt order form Open None
Since 2001 07-08
Prompt invoice - None
Since 1997
Prompt order form - -
11 years 08-07 Prompt
order form 700.000 -
10 years
Prompt current account Open None
Since 1997
Prompt bank transfer Open -
9 years 08-07 Prompt
invoice
Open -
9 years 02-07 Prompt
invoice
Open -
10 years 12-04 Prompt
current account
Open None
10 years
Prompt order form 20.000 -
10 years
Prompt bank transfer Open -
8 years 03-06 Prompt
invoice
20.000 -
9 years 12-04 Prompt
current account
Open None
10 years 03-06 Prompt
order form
20.000 -
10 years 03-06 Prompt
checks
Open -
8 years 03-06 Prompt
not specified
Open -
5 years 09-05 Prompt
not specified
Open -
6 years 09-05 Prompt
current account
Open -
8 years 09-05 Prompt
checks
Open -
5 years 09-05 Prompt not specified - -
10 years 09-05 Prompt
order form
20.000 -
7 years 09-05 Prompt
not specified
20.000 -
8 years 09-05 Prompt
order form
1.000.000 -
8 years 12-04 Prompt
order form
1.000.000 -
6 years 12-04 Prompt
not specified
20.000 -
10 years 12-04 Prompt
order form 20.000 -
3 years 12-04 Prompt
not specified
- -
7 years 12-04 Prompt
checks
Open -
5 years 12-04 Prompt
current account Open -
3 years 12-04 Prompt
not specified
Open -
10 years 06-04 Prompt
order form
20.000 -
5 years 06-04 Prompt
order form 20.000
-
8 years 06-04 Prompt
order form
1.000.000 -
7 years 06-04 Prompt
checks
Open -
During the last 6 months, the account holder credit history shows 254
credit
review inquiries requested by financial institutions, credit assessment
agencies, insurance companies, universities, industries and businesses
in
general.-
The account holder credit report reflects no delinquent payment history,
no
protests, and no social security and/or work infringements as of the
date of
this report.
AVERAGE PAYMENTS
IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
C O M P A R A T I V E - S U
M M A R Y
(
Figures in Thousand Pesos, local currency )
From 01/01/2011 01/01/2010 01/01/2009
To 31/12/2011 31/12/2010 31/12/2009
CURRENT ASSETS
496.369.951 706.975.430 663.368.138
CURRENT LIABILITIES
269.613.069 322.499.429 204.239.564
WORKING CAPITAL
226.756.882 384.476.001 459.128.574
FIXED ASSETS
2.117.460.291
1.563.879.170 1.237.121.254
OTHER ASSETS
30.269.710 41.120.779 15.740.112
LONG TERM LIABILITIES
292.527.067 299.641.206 295.208.072
NET WORTH
2.081.959.816
1.689.834.744 1.416.781.868
OPERATING INCOMES
2.000.918.153
1.910.457.826 1.501.524.907
CURRENT PROFIT(LOSS)
877.308.997 995.818.207 732.210.069
B A L A N C E S H E E T
INDIVIDUAL FISCAL YEAR COMPLETE
ASSETS
31/12/2011 31/12/2010
Cash
17.510.627 67.798.593
Sales Debtors
254.127.273 415.289.962
Inventory
146.903.625 160.978.137
Taxes Recoverable
10.986.119 0
Other Current Assets 66.842.307 62.908.738
CURRENT ASSETS
496.369.951 706.975.430
Net Fixed Asset
2.117.460.291 1.563.879.170
FIXED ASSETS
2.117.460.291 1.563.879.170
Intangibles
4.852.707 4.610.740
Other
25.417.003 36.510.039
OTHER ASSETS
30.269.710 41.120.779
TOTAL ASSETS
2.644.099.952 2.311.975.379
LIABILITIES
31/12/2011 31/12/2010
Oblig.With Banks & Financ.Inst.Short Term 25.442.033 68.280.478
Oblig.With Banks & Financ.Inst.long Term 718.572 690.006
Accounts Payable
213.592.623 154.491.396
Provisions 19.842.074 14.825.168
Withholdings
10.017.767 84.212.381
CURRENT LIABILITIES
269.613.069 322.499.429
Oblig.with Banks & Financial Intitutions 25.391.452 47.354.663
Obligations With Public (Bonds) 0 2.978.843
Provisions
264.540.309 233.140.449
Other Long Term Liabilities 2.595.306 16.167.251
LONG TERM LIABILITIES 292.527.067 299.641.206
Paid Capital
326.808.368 304.749.392
Other Reserves -97.145.912 -90.588.252
Accumulated Profits
974.988.363 479.855.397
Current Profit (Losses) 877.308.997 995.818.207
NET WORTH 2.081.959.816 1.689.834.744
TOTAL LIABILITIES
2.644.099.952 2.311.975.379
STATEMENTS OF RESULTS 31/12/2011 31/12/2010
Operating Income
2.000.918.153 1.910.457.826
Operating Cost
-801.464.205 -568.574.943
OPERATING MARGIN
1.199.453.948 1.341.882.883
Administration & Sales Expenses -28.805.972 -35.772.866
OPERATING RESULT
1.170.647.976 1.306.110.017
Financial Incomes
2.580.707 580.112
Other non Operating Incomes 10.429 21.856.521
Financial Expenses
-3.636.662 -16.996.816
Other non Operating Expenses -13.386.400 -17.196.184
NON OPERATING RESULT -14.431.926 -11.756.367
Result Before Income Tax 1.156.216.050 1.294.353.650
Income Tax
-278.907.053 -298.535.445
NET PROFIT(LOSS)
877.308.997 995.818.205
CURRENT PROFIT(LOSS) 877.308.997 995.818.205
ECONOMIC - FINANCIAL RATIOS
31/12/2011 31/12/2010 Average
Working Capital
(000's$) 226.756.882 384.476.001 305.616.442
Current Liquidity
(Times) 1,84 2,19 2,02
Acid Test
(Times) 1,30 1,69 1,50
Collection Period Days
( Days) 45,72 78,26
61,99
Accounts Receivable Turnover(Times) 7,87 4,60 6,24
Inventory Turnover
(Times) 5,46 3,53 4,50
Current Indebtedness
(Times) 0,13 0,19 0,16
Total Indebtedness
(Times) 0,27 0,37 0,32
Solvency
(Times) 4,70 3,72 4,21
Assets Tying Up
( % )
80,08 67,64 73,86
Profitability Over Sales
( % )
43,85 52,12 47,99
Profitability Over Assets
( % )
33,18 43,07 38,13
Profitability Over Net Worth(
% ) 72,83 143,49 108,16
Subject operates with the following banks:
- Banco de Chile
- Banco de Credito e Inversiones
Line of Business : Copper mining company. Development, construction and
start-up
of Collahuasi mining
project. Working of three fields UJINA,
ROSARIO (copper
minerals) and HUINQUITIPA (copper
oxides).
Certification
ISO 14001, 9001 OHSAS
Classification according to commercial activity:
Sic: 1021-0000 Copper ores
Subject is considered as a large company in this line of business,
normal
competition
Sales
Sales are steady throughout the year
National and international sales territory
Products are sold
National: 40%.
Sales conditions: Cash and term payments to 30 & 60 days.
International: 60%.
Sales conditions: Letter of credit.
Exports to Germany, China, South Korea, Philippines, Netherlands, India,
Italy,
Japan, Peru, Taiwan, Thailand and United States
of Exports obtained from Customs'National Service
Country %last year %Accum.
-------------------------------------------------------
Japan 38,96 48,38
China 30,90 31,81
India 20,60 15,89
Germany 3,06 0,00
Philippines 2,77 0,00
South Korea 1,79 2,52
Taiwan 1,02 0,57
United States 0,27 0,78
Netherlands 0,27 0,00
Italy 0,21 0,00
Thailand 0,14 0,00
Peru 0,02 0,01
Historical registries
Total 2011 = 000's$
820.767.646 Accumulated 2012 =
000's$ 349.199.595
Total 2010 = 000's$
1.075.795.759
Total 2009 = 000's$
845.171.152
Total 2007 = 000's$
1.180.288.356
Total 2006 = 000's$
1.163.228.239
Total 2005 = 000's$
528.110.851
Total 2004 = 000's$
589.885.972
Total 2003 = 000's$
291.843.680
Purchases
Places orders with multiple suppliers
National: 80%
Purchase conditions: Cash and term payments to 30 & 60 days.
International: 20%
Purchase conditions: Direct collection.
Imports from Germany, Austria, Brazil, Chile, Philippines, Honduras,
India,
Peru, United States and Ukraine.
of Imports obtained from Customs'National Service
Country %last year %Accum.
-------------------------------------------------------
Peru 48,42 0,00
Philippines 31,75 0,00
Honduras 15,11 0,00
Austria 2,18 0,00
Ukraine 1,95 0,00
United States 0,27 0,00
Brazil 0,18 70,38
Chile 0,07 1,85
Germany 0,06 27,76
India 0,01 0,00
Historical registries
Total 2011 = 000's$
4.657.806 Accumulated 2012 = 000's$
61.315
Total 2010 = 000's$
2.800.337
Total 2009 = 000's$ 665.106
Total 2007 = 000's$
1.684.563
Total 2006 = 000's$ 0
Total 2004 = 000's$
2.833.911
Total 2003 = 000's$
1.344.097
Main suppliers
- A.S. Chile Energy Group S.A.
- ABB S.A.
- Aceros Chile S.A.
- Bucyrus International (Chile) Ltda.
- Cooperativa de Dueņos de Camiones de Iquique Caliche Ltda.
- Edyce S.A.
- Elementos Industriales y Tecnologicos Limitada
- Esinel Ingenieros Limitada
- Finning Chile S.A.
- GasAtacama Generacion S.A.
- Industria de Plasticos Andes Drip Ltda.
- Industria Metalurgica Inamar Limitada
- Ingenieria y Construccion Sigdo Koppers S.A.
- Komatsu Chile S.A.
- Reliper Comercial Ltda.
- Sociedad G.N.L. Mejillones S.A.
- Thyssen Krupp Ingenieria Chile Ltda.
Employees: 2.605 employees
Location
- Administrative offices at Av.
Andrés Bello 2687 Piso 11 Las Condes Santiago,
Chile, commercial area, main avenue
of normal traffic, construction in good
conditions
Branches
- Commercial office at Av.
Baquedano 902 Iquique Chile
- Commercial office in Pica and
Port in Punta Patache, Iquique.-
Subject does not have any related company.
FIXED ASSETS
Real estates
Subject registers real estates
- Sites, LT A 2 pampa Coposa P I2
6595 Pica-Chile, Fiscal value of 000's$
6.115.606.-, rol Nš 800-9
- Premises, Avda. Andrés Bello
2687, Oficina 1102 Las Condes Santiago-Chile,
Fiscal value of 000's$
284.190.-, rol Nš 269-20
- Industry, Punta Patache LT A I2
6102 CR Iquique-Chile, Fiscal value of 000's$
4.726.782.-, rol Nš 2460-10
- Home, LT A 1 pampa Coposa P I2
6595 Pica-Chile, Fiscal value of 000's$
3.890.649.-, rol Nš 800-10
- Sites, LT A 1 Rosario
Huinquintipa Pica-Chile, Fiscal value of 000's$
653.486.-, rol Nš 800-17
- Premises, Avda. Andrés Bello
2687, Oficina 1101 Las Condes Santiago-Chile,
Fiscal value of 000's$
239.151.-, rol Nš 269-19
- Parking lot, Av. Andrés Bello
2687 Box 1057 Las Condes Santiago-Chile, Fiscal
value of 000's$ 2.874.450.-,
rol Nš 269-137
- Sites, Sector Norte Patache P
I2 6593 Iquique-Chile, Fiscal value of 000's$
620.251.-, rol Nš 2460-1
- Sites, LT A 1 Ujina P del Inca
P 6594 Pica-Chile, Fiscal value of 000's$
933.029.-, rol Nš 800-19
- Sites, Sector norte I2 6222
Iquique-Chile, Fiscal value of 000's$ 990.671.-,
rol Nš 2460-6
- Industry, LT A 1 Sector Ujiba P
I2 6596 Pica-Chile, Fiscal value of 000's$
2.255.512.-, rol Nš 800-12
- Parking lot, Av. Andrés Bello
2687 Box 1056 Las Condes Santiago-Chile, Fiscal
value of 000's$ 2.874.-, rol Nš
269-136
- Shops and warehouses, Av.
Andrés Bello 2687 Bodega 307 Las Condes
Santiago-Chile, Fiscal value of
000's$ 6.492.-, rol Nš 269-70
- Shops and warehouses, Av.
Andrés Bello 2687 Of. 1103 Las Condes
Santiago-Chile, Fiscal value of
000's$ 284.190.-, rol Nš 269-21
- Parking lot, Av. Andrés Bello
2687 Box 1058 S 106 Las Condes Santiago-Chile,
Fiscal value of 000's$
17.223.-, rol Nš 269-138
- Av. Andrés Bello 2687 Piso 11
Las Condes Santiago-Chile, Fiscal value of
000's$ 239.151.-, rol Nš 269-22
Total fiscal appraisal: $
24.558.899.977.-
Vehicles
Owns vehicles for the company's use
Vans , cars and 42 trucks Komatsu, load capacity 240
tons.(model 380).
Machinery & Instalations
Own equipment
- Front loaders , 5 bulldozers
D-375 Komatsu , 4 drillers M M , 2 mills
,
crushing machines , plants and concentrators other necessary elements
INSURANCES
Insurance covering interests are undersigned
Executive President : Roberto
Darouiche
Executive President : Miguel
Angel Durán
Finance Vice President : Michael
Farrelly
and Sales
Administration : John
Coldham
Vicepresident & Services
Legal and Public : Juan
Carlos Palma Irarrázabal
Affains Vice President
Operation Vice :
Fernando Saavedra
President & Mine
Human Resources : Fernando Hernández
Vicepresident
Vice President of Plant : Ana
Salazar
Corporate Affairs Vice :
Bernardits Fernández
President
Operation Vice :
Alejandro Fernández
President & Mine
CURRICULUM
Juan Carlos Palma Irarrázabal
Titled as : Attorney.
Position : Legal and
Public Affains Vice President
Legal Structure : Contractual
Mining Company
Constitution date : 11/04/1983.
Registered under business name "CIA. MINERA
DOŅA
INES DE COLLAHUASI LTDA."
Notary : Andrés
Rubio Flores, Santiago
Term of duration : Indefinite
Legal Address : Santiago -
Chile
Published in : Official
Gazette dated 27/04/1983 page Nš 18
Current Social Capital: 000's$ 112.017.465.-Divided to 45.134.160.-
registered
shares
unique series
Partner : 3
- 44,00% Cias. Subsidiarias de
Xstrata PLC
- 44,00% Cias. Subsidiarias de
Anglo American PLC (Luxembourg)
- 12,00% Consorcio Japones
Liderado por Mitsui & Co. Ltd.
Power of attorney held by Executive President.
Legal changes
Public Deed dated 08/07/1983, notary Víctor Bianchi Pacheco, suplente de
Andrés
Rubio Flores, Santiago, published in the Official Gazette dated
25/07/1983 page
N° 9, corporate name was modified: CIA. MINERA DOŅA INES DE COLLAHUASI
LTDA. was
modified into a private stock company, under business name COMPAŅIA
MINERA DOŅA
INES DE COLLAHUASI S.A.
Public Deed dated 27/09/1994, notary Martín Vásquez Cordero, Santiago,
published
in the Official Gazette dated 05/10/1994 page N° 12, statutes were
modified: it
was agreed to divide subject into 2 companies: one is the continuer,
keeping
same business name (subject) and a new one called FALCONBRIDGE
COLLAHUASI S.A.
Consequently, subject reduced its capital from US$6.493.285,56 to
US$3.994.218,58. The difference
of US$2.499.066,98 is for the recently
established company. At the same time, a new text of social statutes was
stated,
increasing capital to US$11.028.885,03 divided into 72.000.000 no par
value
shares.
Public Deed dated 08/06/1995, notary Andrés Rubio Flores, Santiago,
published in
the Official Gazette dated 24/06/1995 page N° 8, capital was increased:
It was
not considered the capital increase made from US$6.493.285,47 divided
into
32.580.000 no par value shares, to US$11.028.885,03 divided into
72.000.000 no
par value shares.
At the same time, capital was increased from US$6.493.285,47 divided
into
32.580.000 no par value shares, to US$200.262.677,56 divided into
43.440.000
registered no par value shares.
Public Deed dated 30/04/1996, notary Andrés Rubio Flores, Santiago,
published in
the Official Gazette dated 13/05/1996 page N° 8, corporate structure was
modified: from private stock company to a MINING CONTRACT PARTNERSHIP
(S.C.M.)
Also, capital was increased from US$200.262.677 divided into 43.440.000
shares
to US$232.502.677,56 divided into 45.134.160 shares, by issuing
1.694.160
shares.
(Rectified in Official Gazette Jun 12, 1996, page 13)
Capital US$232.502.677,56 x
$481,79 (exchange rate as at Aug. 16, 2012) =
$112.017.465.021.-
PUBLICATIONS
Information regarding subject is supplied as follows
NOTA ESPECIAL.- of 25/11/2010 SPECIAL NOTE:
The commercial activity of COLLAHUASI mine started in 1980 with the
exploitation of high fineness of copper-silver veins.
In 1991, a combination of surveys based on satellite images, air
photogrammetric mappings and drilling activities of exploration resulted
in the
discovery of UJINA field.
Feasibility and environmental impact surveys of COLLAHUASI Project were
approved in 1995.
At the end of 1996, after subscription of agreements of financing and
commercialization, the development & construction stage started.
**Japanese Association headed by Mitsui & Co. Ltd. that joins the
companies
Nippon Mining & Metals Co. Ltd. and Mitsui & Smelting Co. Ltd.
Falconbridge is a leading international producer of low-cost nickel,
copper,
cobalt and platinum group metals. It is also one of the world's largest
recyclers and processors of metal-bearing materials.
Anglo American is an international mining and natural resources group
operating businesses in gold, platinum, diamonds, base and ferrous
metals, coal,
industrial minerals. In Chile the Anglo American Group is the
controlling
shareholder of Empresa Minera de Mantos Blancos S.A. and Compaņía Minera
Disputada de las Condes S.A. -
Economía y Negocios El Mercurio Cuerpo B Pag 3 of 27/10/2011 Collahuasi
to
invest US$500 million to extract seawater
The project aims to meet the increase in water needs of the deposit
after
its expansion.
1.500 liters of water per second from the sea to the mountains, almost
at
5.000 meters over sea level, is the goal of mining company Doņa Ines de
Collahuasi for the expansion of its industrial processes related to
copper
extraction in northern district Pica.
The project requires an investment of US$500 million and will be
operating in
2017.
The executive president of the copper company, Giancarlo Bruno, said
that the
prospects of the industry and the viability of the business allow to
take such a
significant investmen decision. Currently the mine needs 1.070 liters of
water
to operate, which is obtained from water wells.
The project is in the prefeasibility stage. Then it will continue to the
permit obtention and detail engineering stages. "This project shows
the
company's commitment with the responsible use of water" Bruno
added. He also
explained that the seawater would not replace the water being currently
used,
and the new ressources would complement the current ones, because the
needs of
the mine increased as a result of the expansion.
Collahuasi is the world's fourth biggest copper mine, with shareholders
such
as Anglo American, XStrata Copper and Mitsui. It is located 185 km.
southeast
from Iquique and 4.400 mt. over sealevel. Last year it produced 465.000
tons of
copper concentrate, 38.000 copper cathodes and 4.476 tons of molybdenum.
This
production could be doubled with the expansion of the so called phase
III, which
will be operating in 2017. -
INFORMATION
SOURCES
On 14/08/2012 Miss. Marta Yáņez, General Manager Assistant, submitted the data
shown in this report, outside
sources provided financial figures.
-Other outside information sources.
Exchange rate
-As at 17/08/2012 $483,67 Per US$
-As at 31/12/2011 $521,46 Per US$
-As at 31/12/2010 $468,01 Per US$
-As at 31/12/2009 $468,01 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.84.51 |
|
Euro |
1 |
Rs.68.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SCs credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.