Big picture - Why invest in Metminco Ltd
Metminco Ltd Snapshot
At Metminco Limited we are committed to developing the Company into a world class exploration and mining company with a dedication to, and respect for, the environment, a strong commitment to safety for all our employees, promoting sustainable development of those communities within which we operate, exercise labour practices that respect the culture and diversity of our employees, and the commitment to act with utmost integrity, honesty and in good faith.
Our Business (Mission)
We are an Australian exploration and mining company, listed on stock exchanges in Sydney (ASX) and London (AIM).
We are committed to explore, develop and operate mining projects from their earliest stages, with a focus on copper in South America.
We are committed to the use of advanced technology, and application of industry best practice, in evaluating and developing projects in order to maximise economic value.
Our Commitment (Values)
To maximise returns for our shareholders.
To perform in a responsible and efficient manner in the conduct of our work systems and procedures.
To actively engage with all of our stakeholders with a focus on sustainable development.
To promote industry best practice, occupational health and safety among our workers and business partners, permanently controlling the risks inherent in our operations. We will comply with applicable laws and regulations of the countries in which we operate.
To promote the ongoing care and protection of the environment within which we operate throughout the life of a project, from exploration through to the decommissioning phase of an operation.
To encourage our suppliers and partners to become part of our commitment to safety, quality, the environment and to develop a strong social conscience within the communities in which we operate.
We acknowledge that our people are our greatest asset, and are thus committed to providing a decent and safe work environment, offering opportunity for personal and professional development, and promoting self-protection, austerity, ethics, integrity and honesty.
Los Calatos Project
The Los Calatos Project is located in a well-defined copper-molybdenum porphyry belt in southern Peru, in a dry desert environment, approximately 80 kilometres to the southeast of Arequipa and 60 kilometres northwest of Moquegua.
Production from mines in this region exceeded 600,000 tonnes of copper metal in 2010. With the proposed upgrade to the Toquepala, Cuajone and Cerro Verde mines and the development of the Tia Maria and Quellaveco mines, production from this belt is anticipated to increase to more than 1.3 million tonnes of copper metal per annum. Molybdenum constitutes a significant byproduct of copper mining from this belt (Figure 1).
The project comprises 26 exploration licences covering an area of 214 square kilometres, and occurs at an altitude of approximately 2,900 metres above mean sea level. It can be accessed via a sealed road (Pan American Highway) from Moquegua and Arequipa, except for the last 50 kilometres which is unsealed. The port of Ilo is located approximately 160 kilometres by road to the southwest of the project area.
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The Mollacas Project, which occurs at an altitude of 1,500 metres above sea level, covers an area of 33 square kilometres and is located in Region IV, Chile, approximately 65 kilometres east of the town of Ovalle, and 160 kilometres by road from the port of La Serena. The project is accessible via the existing road network, and is in close proximity to established infrastructure.
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Timothy Read - Chairman
Tim was appointed to the Board on 01 April 2010. He has over forty years’ experience in the mining and metals sector, first as a mining analyst, then as an investment banker and, most recently, as a corporate executive and director. Between 1995 and 1999, he was Managing Director and Global Co-Head of Mining and Metals Investment Banking for Merrill Lynch Inc. and, accordingly has extensive experience of all aspects of corporate finance, particularly M&A and equity capital markets. Between 1999 and 2006, he was the chief executive of Adastra Minerals Inc. (acquired by First Quantum Minerals in 2006) and since then has acted as a non-executive director for several natural resource companies including Cumerio SA (acquired by Norddeutsche Affinerie in 2008), Kopane Diamond Developments (until December 2009) and Faroe Petroleum plc. Tim is also the Senior Independent Director of Capital Drilling Limited. In 2011, Tim was short-listed for the award of Non-Executive Director of the Year.
William Howe - Managing Director
William was appointed to the Board on 17 July 2009. William, Hampton Mining founder, has over 30 years’ experience in the mining industry and has worked in southern and west Africa, Australia, South East Asia and North and South America. He has been instrumental in the development of a number of new mining operations in Australia and South East Asia including the development and management of the first copper heap leach operation in Australia. He specialises in optimising existing operations in addition to the development of new operations, both in underground and open pit environments, and has extensive experience in mine development, mine management and corporate management. William was a founding director of Straits Resources Limited and was Managing Director of Ghana Gold Mines Limited, Hargraves Resources NL, Selwyn Mines Limited and Hampton Mining Limited.
Steve Tainton - Executive Director
Steve was appointed to the Board on 8 October 2013. He is a geologist by profession with over 30 years’ experience in the exploration and mining sector of Africa, with a particular focus on South Africa and gold. Whilst he has spent most of his career in South Africa, he has been involved with the evaluation of projects in some 27 different countries involving a variety of commodities. Having started his career with Johannesburg Consolidated Investments Limited, he has held various positions in management, from exploration to business development, which culminated in his holding the position of Executive Director of the JSE listed company Western Areas Limited, prior to the sale thereof to Gold Fields Limited. At Gold Fields Steve held the position of Senior Consultant Strategy responsible for Gold Fields’ SA Region, and more specifically their deep level gold mines, South Deep, Kloof, Driefontein and Beatrix. Thereafter, he joined Partners in Performance, a Sydney based consultancy group, which focuses on Business Improvement.
Dr Roger Higgins - Non Executive Director
Roger was appointed to the Board on 8 October 2013. He has over 40 years of mining industry experience, which has included environmental, strategy, project development and operational roles. He commenced working in the industry as an engineering hydrologist working on pit flooding and tailings disposal issues. Subsequent experience included responsibility for projects and operations in arid Australia and the deserts of northern Chile, as well as in eastern and western Canada.
Roger’s earlier career included various hydrology related positions in Papua New Guinea (Australian Government and Bougainville Copper), and 4-years at the University of New South Wales, where he completed a PhD in water resource economics. He subsequently spent 26-years with BHP as Manager Planning and Development BHP Copper, General Mine Manager Escondida, Managing Director Ok Tedi, Vice President Project Development Chile and Vice President and Chief Operating Officer Australia, responsible for the Olympic Dam and Cannington mines. Thereafter he spent 5-years with Teck Resources Limited as Senior Vice President Copper in Vancouver BC where he was responsible for Teck’s copper business unit and its related operations in Canada, Chile and Peru.
Dr Phillip Wing - Non-Executive Director
Phillip was appointed to the Board on 17 July 2009. Up until July 2011, Phillip was responsible for capital raising and investor relationships in Australia and Asia.
Phillip is also the Executive Chairman of a special purpose private equity firm. He is currently the chairman or non-executive director of six investee companies ranging from mining to medical devices. Until January 2006, Phillip was a partner of Technology Venture Partners (TVP), a specialist Institutional Information Technology and Telecommunications venture capital firm, for 7 years and was an active non-executive director on many of TVP's portfolio companies in Australia and overseas. Prior to joining TVP, Phillip was a senior executive in IBM's global and Asia Pacific management team. He held responsibility for a major industry business unit in Asia and was also General Manager of the IBM (Australia and New Zealand) consulting business. His last role at IBM was as General Manager (Global Services) responsible for strategy, marketing and business development including acquisitions, alliances and business partners. Prior to his career at IBM, Phillip was a partner at Ernst and Young, KPMG Peat Marwick and Touche Ross, specialising in strategy and IT and corporate advisory consulting. Phillip held managing partner roles responsible for the consulting business units and spent two years on secondment as the Chief Information Officer of NSW Health. Phillip has worked extensively in the USA, Asia, and Europe. He has a Bachelor and Masters of Economics and has completed a PhD in Organisational Behaviour.
He is a member of the Institute of Chartered Accountants, and has held recent positions as an adjunct lecturer with the Centre for Applied Finance (Macquarie University) and an advisor to CSIRO to approve all major research projects in Australia.
Francisco Vergara- Irarrazaval - Non-Executive Director
Francisco was appointed to the Board on 01 April 2010. He has over 30 years’ experience in the mining industry in Chile and other Latin American countries where he was Vice President of CompaÒ"a Minera El Indio and CompaÒ”a Minera San Jose, subsidiaries of St. Joe Minerals Corporation until 1991. In 1991, he established Vergara & Cia, Law Firm, providing legal services to different mining companies and international engineering firms focused in natural resources, energy, shipping, salmon industry in Chile and agriculture. He has also acted on behalf of foreign governments through their embassies in Chile, and has served as a Director of several listed companies, and Chairman and Director of a number of unlisted companies.
|Rank||Shareholder (beneficial interest)||No. of Shares||Holding (%)|
|1.||Junior Investment Company||131,487,500||7.1%|
|4.||Barrick Gold Corporation||75,000,000||4.0%|
|6.||Mining Investment Services Pty Ltd||50,065,000||2.7%|
|9.||High Sea Management Resources||33,484,294||1.8%|
|10.||TD Direct Investing||32,010,054||1.7%|
|11.||Sidlog & Lemai||30,814,160||1.7%|
|12.||Tangarry Pty Ltd||29,666,664||1.6%|
|13.||Hargreaves Lansdown Asset Mgt.||27,422,259||1.5%|
|16.||Halifax Share Dealing||20,381,814||1.1%|
|18.||Mr Vasilios Votsaris||18,857,068||1.0%|
|20.||Illawarra Int Resources||18,350,000||1.0%|
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