Record annual production of thermal coal, mined nickel, zinc in concentrate and lead metal. Stronger second half volumes of chrome, platinum, copper, semi-soft and coking coal
Accelerated transformation of Xstrata Nickel and restructuring and expansion of Xstrata Zinc’s Australian operations reduced average C1 nickel and zinc costs by 33% and 25% respectively
Year-on-year reductions in injury frequency rates. Total recordable injuries reduced by 14% in 2009 and by an average of 20% each year since 2003
Over $8 billion of projects currently in construction, with a further $9 billion of projects due for approval in 2010
Organic growth pipeline to deliver significant volume growth of more than 50% in copper and coal and more than double nickel volumes
Financial highlights
Operating EBITDA of $7 billion despite unprecedented destocking in the first half and lower demand and average prices in 2009 as a result of the economic downturn
Real unit cost savings of $501 million, representing 5% of the operating cost base and an unbroken record of annual sustainable cost reductions since IPO
Operational cash flow of over $5.3 billion, with stronger second half cash generation of $3.7 billion
Gearing reduced to 26% from 40% as a result of robust cash flows and a successful rights issue to repay a net $3.7 billion of debt
Dividend of 8¢ per share, reflecting the Board’s confidence in Xstrata’s near and medium-term prospects and financial position
Annual Report 2009
View or download a copy of the Annual Report 2009.
