Aurubis Smelter Partner for Copper Mines - Bastian Bergholz Director Intermediate Products Business Unit Primary Copper - Deutsche ...
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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 Processors and
Copper production Copper processing
recycling markets end users
BU Primary Copper BU Copper Products
Iron silicate
Flat rolled
SULFURIC products
CONCENTRATES ACID
SHAPES
BU Recycling /
Precious Metals
CATHODES
WIRE ROD
Other
RECYCLING metals Other semi-finished
PRECIOUS products
MATERIALS
METALS
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
JX Holdings (JP) 460
Mitsubishi Materials (JP) 430
Glencore Xstrata (CH) 420
Sumitomo Metal Mining (JP) 420
Jinchuan (CN) 370
Tongling (CN) 360
Jiangxi Copper Co. (CN) 340
Birla Copper (IN) 240
Sterlite Industries (IN) 230
* Copper production from concentrates from non-controlled mines Source: Wood Mackenzie 12/2013, Aurubis
4
Copper is part of daily life
Global copper demand Copper content in various applications
by industries
13% 9%
13%
30%
35%
~25 kg up to ~115 kg ~200 kg
Industrial machines and plants
Electrical and electronic
applications
Construction industry
Traffic and transport
Consumer goods ~4,000 kg ~7,300 kg up to ~30 t
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 » Expansion of » Increased popularity of
electricity grid decentralised energy hybrid cars worldwide
continues supply proceeds
» Electric drive is the
» Underground cable » High copper demand technology of the
use to become priority for grid connections future, China intends
in Germany » High copper demand to become market
for wind turbines leader within 3 years
3/3/2014 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
30 % sulfur » Declining copper grades and
» 10 % other elements (e.g. increasing complexity of raw materials
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
1.5 7.6
1.7
1.0
MP SC 3.3
MP SC
1.1 MP SC
0.7
5.5
MP SC
1.9
1.0
0.4
MP SC
MP 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)
140 10000
9000
120
Andina Expansion -
Phase II 8000
100
7000
80
6000
Escondida (CL)
60 5000
Oyu Tolgoi Chuquicamata
Collahuasi (CL)
(MN) underground (CL) 4000
40
Los Pelambres Expansion (CL)
Los Bronces Expansion (CL)
3000
Los Pelambres (CL) Toromocho (PE)
20 Antamina Expansion (PE)
El Teniente (CL)
Antamina (PE) Caserones/Regalito (CL) Mina Ministro Halees (MMH)
2000
Las Bambas
Batu Hijau (ID) Salobo I (BR) Quellaveco (PE)
Salobo II (BR)
Esperanza (CL)
0 1000
1990 1995 2000 2005 2010 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
10Aurubis – an excellent and reliable partner for
mining companies
Countries of origin of Aurubis’
concentrate supplies 2012/13 » Highly qualified partner with more than 140
Others years of experience in copper
Chile
20 % » Assistance in mine financing (Untied Loan
19 %
Facility etc.)
Canada » Reliable offtake partner for concentrates
5% Peru production
Argentina 18 %
» World class environmental reputation
10 %
» High ability to treat complex materials
Brazil
Bulgaria » High reputation in correct sampling and
12 %
16 %
analysing
Selection of Aurubis’ long-term
suppliers:
» Teck
» Vale
» Anglo American
» Antofagasta
» Glencore Xstrata
11Environmental 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 Hamburg site 4
2500 Pirdop site 7
2000
Copper smelters:
- European avg. 42
1500
- International avg. 228
1000
500 Pirdop Hamburg
0
Source: Brook Hunt 2013, certified data, Aurubis
As the largest copper recycler in the world
Aurubis has achieved outstanding success with the best available technology, Aurubis
in environmental and climate protection and achieves high metal recovery rates while
is one of the most environmentally friendly observing stringent environmental standards
copper producers in the world today with its multi-metal recycling process
12Aurubis Smelter Partner for Copper Mines Bastian Bergholz Director Intermediate Products Business Unit Primary Copper
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