Acquisition of Khoemacau
Attractive operating and financial metrics
Post-expansion, Khoemacau is expected to generate significant cash flows at a low cost and high margin
Key operating and financial metrics (estimates shown either as a range or average)
Copper head grade range (%)
1.8%
2.0%
CuEq production range (ktpa)
155
135
65
1.7%
1.6%
50
Pre-Expansion
EBITDA (US$m p.a.)
~600
Post-Expansion
Pre-Expansion
C1 Cash cost range (US$/lb Cu)1
2.40
1.65
1.75
1.45
Pre-Expansion
Post-Expansion
~150
Pre-Expansion
Post-Expansion
Post-Expansion
Capital intensity and average capex
Capital intensity (brownfield expansion)
Expansion Growth Capex (US$m)
700-800
Incremental CuEq Production (ktpa)
80-90
Capital Intensity (US$/t CuEq)
~8,000
LOM average sustaining capex (US$m p.a.)
~100
M
Notes: All financial metrics are shown on a 2023 real basis. 1. C1 Cost calculated on a post by-product and pre silver stream basis.
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