We develop objectives every year that support our corporate strategy and drive results. These are also our key performance indicators.
We’ve established the following objectives to help drive our strategy and performance in 2009. Refer to our most recent quarterly report for an update on our performance in relation to these objectives.
| Corporate objective |
|
Our objective for 2009 |
Growth |
|
Grow through the acquisition of production, development of a property or successful exploration |
|
-
Complete the construction at Las Cruces and successfully begin production in the second quarter of 2009
-
Advance Cobre Panamá on our own terms, taking a careful and measured approach and balancing market conditions and liquidity
-
Explore other growth opportunities such as exploration projects, mergers and acquisitions of producing companies |
Maximize the value of our existing assets |
|
Meet production targets and continuously improve productivity
|
|
Meet the following production targets:
- Copper 126,000 tonnes
- Zinc 79,000 tonnes
- Gold 242,000 ounces
Meet the following productivity targets (tonnes of ore milled per day):
| |
Çayeli |
3,300 |
|
Pyhäsalmi |
3,750 |
|
Troilus |
16,900 |
|
Ok Tedi (100%) |
69,000 |
|
|
|
|
| Control costs through continuous improvement programs and monitoring our costs |
|
Meet the following cost targets:
Cost per tonne of ore milled (C $)
| Çayeli |
$ 81 |
| Pyhäsalmi |
$ 41 |
| Troilus |
$ 10 |
| Ok Tedi |
$ 26 |
| Las Cruces |
$ 167 |
| Cash cost per pound of copper (US $) |
$ 0.68 |
| Cash cost per ounce of gold (US $) |
$ 297 |
|
|
|
|
Continue to make our operations safe places to work
|
| Improve the safety and health performance of our operations and construction projects |
|
-
Implement higher standards for safety and environmental performance
– Reduce lost-time injury frequency, total injury frequency and severity
– Reduce environmental incident intensity
-
Improve company-wide safety and health training programs
-
Turn plans into action:
– Address identified gaps between current operation performance and performance desired by SECA standards and high consequence protocols
– Implement water management plans
– Implement energy and greenhouse gas reduction plans
– Define community development strategies based on Socio-Economic Assessment Toolbox (SEAT) evaluations
-
Evaluate the pros and cons of third-party verification of our annual sustainability report
|
2008 annual report