ANATAMINA MINE JV
The Antamina mine is a large copper and zinc mine, located in the Andes mountain range, 270 kilometres north of Lima, Peru. The deposit is located at an average elevation of 4,200 metres.
We have a 22.5% interest in the mine. Our partners are BHP plc (33.75%), Glencore plc (33.75%) and Mitsubishi Corporation (10%).
The mine is an open pit, truck/shovel operation. A 302 kilometre slurry concentrate pipeline transports copper and zinc concentrates to the port for shipment to smelters and refineries world-wide.
Antamina has entered into long-term copper and zinc concentrate off-take agreements with affiliates of the Antamina shareholders on market terms. We sell our share of Antamina’s copper and zinc concentrates to major smelting and refining companies.
Antamina Operating Results (22.5%)
| ($ in millions) | 2020 | 2019 | 2018 |
|---|---|---|---|
| Revenue | $868 | $900 | $1,061 |
| Gross Profit before depreciation and amortization(1)(2) | $566 | $614 | $794 |
| Gross Profit | $414 | $457 | $652 |
| Production (million tonnes) | 86 | 101 | 100 |
| Sales (000's tonnes) | 85 | 101 | 99 |
Notes:
(1) Non-GAAP Financial Measure. See “Use of Non-GAAP Financial Measures” section for further information.
(2) See “Use of Non-GAAP Financial Measures” section for reconciliation.