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Xstrata copper: Xstrata copper creates new division in the south of Peru
Lima, 19 November 2007
Xstrata Copper today announces an important organisational change with the creation of the Southern Peru Division, headquartered out of the city of Arequipa.
"This initiative is directly related to Xstrata Copper's growth strategy in Peru," said Xstrata Copper’s Chief Executive Charlie Sartain. "The consolidation of our existing operations and projects in Southern Peru within a regionally based organisation will enable us to rapidly develop this division into one of our major global copper businesses. It also confirms our long term commitment to our investments in Peru,” he said.
The new division will be responsible for the management of the Tintaya mining operation, the Las Bambas and Antapaccay development projects, regional exploration and the development of business initiatives in southern Peru.
José Marún, formerly General Manager of Tintaya, will lead the Southern Peru Division as its Chief Operating Officer. Luis Rivera, formerly Technical Services Manager at the Xstrata-managed Minera Alumbrera mine in Argentina, will replace José Marún as General Manager of Tintaya.
At the same time, Ronald Luethe will continue as General Manager, Southern Peru Projects and Domingo Drago will assume the role of General Manager Corporate Affairs of the new division.
Ends
Xstrata Copper Contacts
| Domingo Drago | Emily Russell |
| Tel: +511 372 2233 x1127 | Tel: +56 2 478 2204 |
| Email: ddrago@xstratacopper.com.pe | Email: erussell@xstratacopper.cl |
Notes to editors
Xstrata Copper commenced its business activities in Peru in August 2004 after securing the right to explore and option to develop the Las Bambas project through an international bidding process. Las Bambas is in Grau and Cotabambas provinces in Apurimac region.
On 18 May 2006, Xstrata Copper acquired Tintaya in the province of Espinar, Cusco region. Tintaya is Peru's fourth largest copper producer with annual production of approximately 120,000 tonnes of copper in cathodes and concentrates. On 21 August 2006, Xstrata Copper obtained a 33.75% share in the Antamina mine through the acquisition by Xstrata Plc of the Canadian mining company Falconbridge, bringing its attributable annual copper production in Peru to approximately 240,000 tonnes.
ABOUT XSTRATA PLC
Xstrata is a global diversified mining group, listed on the London and Swiss Stock Exchanges, with its headquarters in Zug, Switzerland. Xstrata’s businesses maintain a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with additional exposures to platinum group metals, gold, cobalt, lead and silver, recycling facilities and a suite of global technology products, many of which are industry leaders. The Group's operations and projects span 18 countries: Argentina, Australia, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, New Caledonia, Norway, Papua New Guinea, Peru, the Philippines, South Africa, Spain, Tanzania, the USA and the UK. Xstrata employs approximately 50,000 people, including contractors.
ABOUT XSTRATA COPPER
Headquartered in Brisbane, Xstrata Copper is one of the commodity business units within the major global diversified mining group Xstrata plc. Its operations and projects span eight countries: Australia, Argentina, Chile, Peru, Canada, the USA, the Philippines and Papua New Guinea. Its operations are administered by five separate divisions, based close to the mining operations, namely the North Queensland, Alumbrera, North Chile, Southern Peru and Canada divisions. It also has a recycling business (Xstrata Recycling) with plants in the United States and offices in Canada and Asia.
Xstrata Copper is the fourth largest global copper producer with annual managed production of over one million tonnes.