Aurubis Smelter Partner for Copper Mines
Transcrição
Aurubis Smelter Partner for Copper Mines
Aurubis Smelter Partner for Copper Mines Bastian Bergholz Director Intermediate Products Business Unit Primary Copper Company profile » Founded in 1866 as Norddeutsche Affinerie AG in Hamburg » IPO in 1998 » Renamed in 2009 after the acquisition of Cumerio Aurum + Rubrum = the red gold = Aurubis » Production sites in European countries and North America with about 6,400 employees » Second largest producer of copper cathodes in the world with an annual output of about 1.1 million t of copper cathodes » No. 1 copper recycler in the world » Largest rod producer in the world » One of the world’s leading copper foil and flat rolled product manufacturers » Production capacities for approx. 1.3 million t of different copper products » Global leader in environmental protection 2 Aurubis, an integrated copper producer Mines and recycling markets Copper production BU Primary Copper Copper processing Processors and end users BU Copper Products Iron silicate CONCENTRATES Flat rolled products SULFURIC ACID SHAPES BU Recycling / Precious Metals RECYCLING MATERIALS PRECIOUS METALS Other metals CATHODES WIRE ROD Other semi-finished products 3 Aurubis is the largest buyer on the free concentrate market International custom smelter output (2013; in 1,000 t of Cu content; primary*) Aurubis Aurubis 570 460 JX Holdings (JP) Mitsubishi Materials (JP) 430 Glencore Xstrata (CH) 420 Sumitomo Metal Mining (JP) 420 Jinchuan (CN) 370 Tongling (CN) 360 340 Jiangxi Copper Co. (CN) * Copper production from concentrates from non-controlled mines Birla Copper (IN) 240 Sterlite Industries (IN) 230 Source: Wood Mackenzie 12/2013, Aurubis 4 Copper is part of daily life Global copper demand by industries 13% Copper content in various applications 9% 13% 30% 35% ~25 kg up to ~115 kg ~200 kg ~4,000 kg ~7,300 kg up to ~30 t Industrial machines and plants Electrical and electronic applications Construction industry Traffic and transport Consumer goods Source: Wood Macquenzie, Sep 2013 3/3/2014 5 New technologies result in more copper applications Cable Alternative energy Hybrid and electric cars » Expansion of electricity grid continues » Expansion of decentralised energy supply proceeds » Increased popularity of hybrid cars worldwide » High copper demand » Underground cable for grid connections use to become priority in Germany » High copper demand for wind turbines 3/3/2014 » Electric drive is the technology of the future, China intends to become market leader within 3 years 6 Copper concentrates – object of global demand » Top producers of copper concentrates: » South America: 5.5 mill. t » Asia: 3.3 mill. t » North America: 1.7 mill. t Copper concentrates: » Copper ore with 0.5-5 % Cu, » Mining operations in Africa face concentrated by grinding and flotation uncertainties regarding the political » Typical composition: environment and infrastructure » 30 % copper, 30 % iron and » Declining copper grades and 30 % sulfur increasing complexity of raw materials » 10 % other elements (e.g. precious metals, other complex materials) 7 Main production of copper concentrates in Latin America – Main consumption in Asia Mine production (MP) and smelter consumption (SC) 2013e (in mill. t) 2.8 1.7 MP 1.5 7.6 1.0 MP SC SC 3.3 1.1 0.7 MP SC 5.5 MP SC 1.9 1.0 MP SC MP 0.4 SC Source: CRU 02/2014 8 A number of new projects will start up production before 2020 Size of deposits Copper price (in mill. t of copper content) (in US$/t – 3-month quotation) 10000 140 9000 120 Andina Expansion Phase II 8000 100 7000 80 6000 Escondida (CL) 5000 60 Oyu Tolgoi (MN) Collahuasi (CL) 40 Chuquicamata underground (CL) Los Pelambres Expansion (CL) 3000 Los Bronces Expansion (CL) Los Pelambres (CL) 20 Antamina Expansion (PE) Antamina (PE) Caserones/Regalito (CL) Salobo I (BR) Esperanza (CL) Batu Hijau (ID) 0 1990 4000 1995 2000 2005 2010 Toromocho (PE) El Teniente (CL) Mina Ministro Halees (MMH) Las Bambas Quellaveco (PE) Salobo II (BR) 2000 1000 2015 2020 Source: CRU 01/2014, internet 9 The market for copper concentrates has some special features » Supply dominated by large mining companies: BHPB, Rio Tinto, Glencore Xstrata, Freeport » Custom smelters in the Far East are heavily subsidized in some cases: duty protections, general subsidies, state-owned investment funds » Increasing EHS (Environment, Health and Safety) discussions against mining operations » Volatile mine production due to technical problems, strikes, etc. » Declining copper grades and increasing production of complex qualities 10 Aurubis – an excellent and reliable partner for mining companies Countries of origin of Aurubis’ concentrate supplies 2012/13 Others 20 % Chile 19 % Canada 5% Peru 18 % Argentina 10 % Brazil 12 % Bulgaria 16 % Selection of Aurubis’ long-term suppliers: » Teck » Vale » Anglo American » Antofagasta » Glencore Xstrata » Highly qualified partner with more than 140 years of experience in copper » Assistance in mine financing (Untied Loan Facility etc.) » Reliable offtake partner for concentrates production » World class environmental reputation » High ability to treat complex materials » High reputation in correct sampling and analysing 11 Environmental compliance is one of Aurubis’ key strengths and a competitive advantage Primary copper Recycling SO2 emissions of copper smelters (in kg SO2 per t of copper) 3500 3000 2500 2000 1500 Hamburg site Pirdop site Copper smelters: - European avg. - International avg. 4 7 42 228 1000 500 Pirdop Hamburg 0 Source: Brook Hunt 2013, certified data, Aurubis Aurubis has achieved outstanding success in environmental and climate protection and is one of the most environmentally friendly copper producers in the world today As the largest copper recycler in the world with the best available technology, Aurubis achieves high metal recovery rates while observing stringent environmental standards with its multi-metal recycling process 12 Aurubis Smelter Partner for Copper Mines Bastian Bergholz Director Intermediate Products Business Unit Primary Copper