4Q

2017

1Q

2018

2Q

2018

3Q

2018

4Q

2018

Q4’18 vs. Q4’17

Full Year

2018

Full Year

2017

2018 vs.

2017

Operating results

Open pit material mined (‘000 tonnes)

28,929

23,131

22,792

22,523

22,863

-21.0%

91,310

105,921

-13.8%

Ore treated (‘000 tonnes)

10,838

9,561

10,164

9,652

9,361

-13.6%

38,738

41,177

-5.9%

Average mill head grades:

  Copper (%)

0.53

0.51

0.48

0.51

0.55

3.8%

0.51

0.51

0.0%

  Gold (g/t)

0.20

0.25

0.26

0.38

0.56

180.0%

0.36

0.17

111.8%

  Silver (g/t)

1.54

1.32

1.17

1.19

1.22

-20.8%

1.22

1.39

-12.2%

Concentrates produced (‘000 tonnes)

205.4

177.3

178.8

179.8

189.0

-8.0%

724.9

722.5

0.3%

  Average concentrate grade (% Cu)

22.0

21.9

22.0

21.9

21.9

-0.5%

21.9

21.8

0.5%

Production of metals in concentrates:

  Copper (‘000 tonnes)

45.3

38.8

39.4

39.4

41.5

-8.4%

159.1

157.4

1.1%

  Gold (‘000 ounces)

35

42

50

77

117

234.3%

285

114

150.0%

  Silver (‘000 ounces)

285

221

225

230

238

-16.5%

914

974

-6.2%

Concentrates sold (‘000 tonnes)

175.5

163.1

220.0

171.9

191.4

9.1%

746.4

724.3

3.1%

Sales of metals in concentrates:

  Copper (‘000 tonnes)

35.7

34.3

46.1

36.0

40.2

12.6%

156.7

149.3

5.0%

  Gold (‘000 ounces)

27

31

51

55

111

311.1%

248

111

123.4%

  Silver (‘000 ounces)

205

206

250

201

216

5.4%

873

860

1.5%

Metal recovery (%)

  Copper

78.0

79.5

79.7

80.9

84.8

8.7%

81.4

75.4

8.0%

  Gold

50.5

55.0

59.8

64.7

71.7

42.0%

65.2

49.7

31.2%

  Silver

53.0

54.6

58.4

62.8

67.1

26.6%

60.9

52.9

15.1%

Financial results ($ in millions, unless otherwise noted)

Revenue

251.7

245.6

341.7

246.5

346.2

37.5%

1,180.0

939.8

25.6%

Revenue by metals in concentrates

  Copper

216.1

202.1

273.7

180.4

210.3

-2.7%

866.5

795.6

8.9%

  Gold

32.5

40.3

64.1

63.3

132.7

308.3%

300.4

130.8

129.7%

  Silver

3.2

3.2

4.0

2.9

3.0

-6.3%

13.1

13.4

-2.2%

Operating cash flow

91.1

14.7

149.6

52.5

146.1

60.4%

363.0

325.8

11.4%

Cost of sales

182.7

168.9

239.6

181.0

187.7

2.7%

777.2

763.8

1.8%

  Production and delivery costs

106.6

114.6

174.2

135.9

143.3

34.4%

568.0

468.4

21.3%

  Depreciation and depletion

73.4

55.6

64.1

45.2

44.6

-39.2%

209.5

304.1

-31.1%

Capital expenditure on cash basis

330.4

285.7

318.0

328.8

371.8

12.5%

1,304.3

917.5

42.2%

  Underground

309.0

270.5

291.2

304.8

347.3

12.4%

1,213.8

835.7

45.2%

  Open pit (2)

21.4

15.2

26.8

24.0

24.5

14.5%

90.5

81.8

10.6%

Royalties

15.8

14.9

20.3

15.5

20.1

27.2%

70.8

57.1

24.0%

Operating cash costs(3)

217.7

176.6

201.7

196.4

242.3

11.3%

817.1

711.6

14.8%

Unit costs ($)

  Cost of sales (per pound of copper sold)

2.32

2.23

2.36

2.28

2.12

-8.6%

2.25

2.32

-3.0%

  C1 (per pound of copper produced) (3)

2.05

1.76

1.72

1.65

1.24

-39.5%

1.59

1.92

-17.2%

  All-in sustaining (per pound of copper produced) (3)

2.40

2.07

2.42

2.29

2.01

-16.3%

2.20

2.39

-7.9%

  Mining costs (per tonne of material mined) (3)

1.72

1.94

2.12

2.18

2.28

32.6%

2.13

1.51

41.1%

  Milling costs (per tonne of ore treated) (3)

5.92

7.42

6.70

7.38

6.82

15.2%

7.11

6.36

11.8%

  G&A costs (per tonne of ore treated)

3.56

1.90

2.25

3.43

4.55

27.8%

3.03

2.93

3.4%

Financial position

Cash and cash equivalents ($’000,000)

1,444.8

1,498.4

1,463.3

1,520.6

1,603.1

1,603.1

1,444.8