Navigating the future and on track to deliver
|
|
- Asher Miles
- 6 years ago
- Views:
Transcription
1 Navigating the future and on track to deliver Roland Junck CEO Euronext Financial Cocktail Brussels, 20 October 2009
2 Who we are Largest Producer of Refined Zinc Top 0.0% 10 Zinc Smelting Companies 5.0% (2008) 10.0% Global Presence Nyrstar Korea Zinc Xstrata Hindustan Zinc New Boliden Glencore Votorantim Huludao Zinc Teck Noranda Inc Fund 2.3% 3.9% 3.5% 3.5% 3.5% 3.5% 6.0% 4.6% 8.9% 8.1% Top 10 = 48% of ~11.5 million tonnes market (China = 4m) Operations on four continents - Europe, US, Australia and Asia - Workforce of 3200 skilled employees 2
3 Who we are Nyrstar is a leading global multi-metals business, producing significant quantities of zinc and lead as well as other products (including silver, gold and copper) Largest smelter of zinc million tonnes of zinc (2008) Major smelter of lead - 240,000 tonnes of lead (2008) Listed on NYSE Euronext Brussels in October
4 On track to deliver Transforming today for a sustainable future Nyrstar is transforming itself in the face of challenging years for commodities Our perspective of a changing world The future outlook for the metal industry is strong Building for the future Our new strategy is clear and on the way to get executed 4
5 Transforming today for a sustainable future
6 Global financial crisis: a challenging year for commodities Index: = Inde xe d zinc price Inde xe d le a d price Inde xe d coppe r price Inde xe d a lum inium price Commodity prices fell dramatically over 2008 as the result of exceptionally challenging financial conditions jan-08 mrt-08 mei-08 jul-08 sep-08 nov-08 jan-09 mrt-09 mei-09 jul-09 sep-09 Source: 6
7 Challenging market conditions Zinc price, US$/tonne Nyrstar shares, 3,000 2,500 2,000 1,500 1, LHS: Zinc price RHS: Nyrstar share price Jan-08 Apr-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 0 Source: LME, factiva 7
8 Fast action: smelting industry leadership by cutting production and addressing supply/demand % Global Consumption (except Nyrstar 2009) (5) -6.5 (10) -7.4 (15) (20) (25) Mines Smelters Nyrstar s production Nyrstar took bold and unprecedented action to address the supply/demand imbalance facing the smelting industry. Budel: off peak production Clarksville: off peak production Balen: care & maintenance More than 300,000 tonnes In total approx 750,000 tonnes of refined zinc cut by smelters Similarly approx 670,000 tonnes of zinc cut by mines Strong contrast compared with previous downturns Source: Brook Hunt, Nyrstar market intelligence and company announcements. 8
9 Results apparent: zinc prices stabilise Zinc s tocks (tonnes ) Zinc Price (RH scale) Zinc Stocks (LH scale) Zinc pric e (US$/tonne ) The decisive actions stabilised zinc prices: Production cuts helped to address supply/demand imbalance Growth in stocks arrested Sowed the seeds for price recovery Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 0 Source: Stocks include both LME & Shanghai Metals Exchange 9
10 Solid financial performance Despite challenging market conditions, strong cost management resulted in a positive EBITDA of 30 million millions* H H % Var Revenue 1, % Gross Profit % Operating Costs % EBITDA % * Gross Profit, Operating Costs and EBITDA are on an underlying basis 10
11 Our strategic framework: for a sustainable future New vision: The partner of choice in essential resources for the development of a changing world Target: Financial return and scale Strategic focus Portfolio management Business improvement Growth 11
12 Transformational changes Significant progress in pursuing transformational changes to create a lean, efficient, dynamic and flexible business focused on creating value On track to deliver cost savings On track to deliver sustainable annual cost savings of 75 million by end 2010 Aggressively increased from 50 million Comprising 30 million employee costs, 45 million other costs On track to reduce head count On track to reduce headcount by 500 (15%) by end in H Timing All initiatives to be completed by end 2010 Once-off restructuring expenses completed, with 24 million in 2008 and 16 million in H
13 Our perspective of a changing world
14 The key global trends affecting Nyrstar in the long-term is the scarcity of resources Global mega-trends Limited resources, unlimited demands resource demand rapidly outpaces supply (oil, gas, coal, water, biomass, most relevant metals) New consumers over 1 billion new consumers, predominately in China and India; ageing population Shifting centres of economic activity dramatic realignment of GDP, oil windfall in the Gulf, urbanization Climate change carbon productivity or adaptation becoming the dominant factor in all business decisions The overburdened public sector productivity gains in the public sector needed to avoid massive tax increases The social cost of the free market companies increasingly have to answer not just to shareholders but also to stakeholders Social life in a technological world connectivity transforms the way we live and interact Turbulent tides of talent supply and demand for global talent is shifting to Asia for low cost and highly skilled talent New global industry structures barbell-like industry structures, increasing global capital flows The new economies of knowledge ubiquitous access to information, science of management Source: McKinsey Global Institute 14
15 Economic growth drives demand Normalised real and wealth adjusted GDP/capita* US$/capita Real copper price US$/t Europe post-war Japan s reconstruction industrialisation 11 years 12 years China s urbanisation 25 years? China is continuing to develop and this process will lead to greater demand for resources Real zinc price US$/t * World average GDP/cap used to deflate GDP/cap for individual countries to 1940 levels. This normalises GDP level to a single time point. GDP measured in 1990 International Geary-Khamis dollars. Inflation and PPP adjusted wealth levels Source: Angus Maddison; Tex Report; USGS; Global Insight 15
16 Tumbling investment in resources supply Spending in recent years was in part catching up for low investment in the 1990s Capital expenditure estimates for global mining, US$bn % How quickly will capex be restored? E 2010E Supply response will lag resumed demand Capex budgets will lag behind resumed demand Additional delay on projects as feasibility studies need to be redone For zinc: end of life of mine for several mines Pre-crisis Post crisis Source: McKinsey Basic Materials Institute 16
17 Our perspective of a changing world Cyclical short-term outlook World economy and metals markets have reached a turning point. Markets are likely to remain volatile in the short term. Structural outlook Medium to longer term expectations for strong metals consumption increase based on BRIC industrialisation and urbanisation remain intact Fall-out from recession and credit crunch will reduce the capacity of metals supply to respond to rising demand Market outlook We believe the resources outlook is positive and provides opportunities 17
18 Building for the future
19 Opportunity through upstream integration Zinc smelter value share 100% % 80% 70% 60% 50% 40% 30% 20% 10% 0% Zinc price US$tonne Upstream integration provides a greater exposure to metal prices throughout the cycle Smelters'share of zinc value Miners'share of value Zinc price Note: Zinc prices are annual average cash settlement in nominal terms Source: CRU, LME, McKinsey analysis 19
20 Mining valuations appear conservative Global Mining EBITDA , USD Billions Volume Cost Price Volume Cost Price 115 The opportunity exists for Nyrstar to selectively grow into mining now March 2009 valuations assume EBITDA of $150 to $170 bn 2008 EBITDA Optimistic case 2009 EBITDA High Case Pessimistic case EBITDA EBITDA Low from Case valuations Source: McKinsey Mining model; Mar 2009 EBITDA Multiples , 2009 high case 3.2, 2009 low case
21 Future Strategy We will: Continue to improve and expand our existing business Selectively pursue opportunities in mining, favouring: mines that support our existing business markets where Nyrstar has existing expertise (Zinc, Lead, Silver, Gold, Copper) and proven capability Our aim is that smelting and mining will both provide valuable contributions to our earnings An integrated Nyrstar could facilitate broader industry consolidation 21
22 Resources for a changing world East Tennessee Zinc Tennessee Mines, US Acquired Gordonsville zinc mine complex in May 2009 Agreed to acquire East-Tennessee Zinc mine complex in Sep 2009 Combined annual production capacity: 210,000 dry metric tonnes zinc concentrate (130,000 tonnes zinc in concentrate) Record of one-for-one reserve replacement Gordonsville 22
23 Resources for a changing world Citronen zinc deposit, Greenland Citronen Zinc Deposit, Greenland Agreed to acquire 19.9% of Ironbark in September 2009 (owner of world class Citronen deposit) Resource (indicated and inferred) of 56 million tonnes at 5.4% zinc and 0.6% lead Coricancha Mine, Peru Agreed to acquire 85% interest in Coricancha poly-metallic mine in Peru in October 2009 Annual production capacity (post expansion): 45,000 oz gold, 2.4 million oz silver 20,000 dry metric tonnes zinc concentrate 15,000 dry metric tonnes lead concentrate Coricancha, Peru 23
24 Questions & Answers 24
Global Metals & Mining/Steel Conference. November 20, 2014
Global Metals & Mining/Steel Conference November 20, 2014 Forward Looking Information Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning
More informationBoliden. Interim Report January - March Mines Smelters Zinc Copper. Boliden AB 1 May 4, 2006
Boliden AB 1 Boliden Interim Report January - March 2006 Mines Smelters Zinc Copper Boliden AB 2 Continued strong growth in China lower growth rate in the rest of the world Global 2006 Q1* - Cu-consumption
More informationMarket analysis. Mines Smelters Zinc Copper. President & CEO Jan Johansson. Boliden s Capital Markets Days 7-8 June 2006 Odda, Norway
Boliden s Capital Markets Days 7-8 June 2006 Odda, Norway Market analysis President & CEO Jan Johansson Mines Smelters Zinc Copper Boliden s Capital Markets Days 7-8 June 2006 Odda, Norway 2 Continued
More information30 OCTOBER Q Interim Management Statement
30 OCTOBER 2018 Q3 2018 Interim Management Statement Important Notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or form part of, and should
More informationNyrstar Investor Presentation. November 2017
Nyrstar Investor Presentation November 2017 Important notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or form part of, and should not
More informationBoliden. Full Year Report Mines Smelters Zinc Copper. Boliden AB 1 February 9, 2005
Boliden AB 1 Boliden Full Year Report 2004 Mines Smelters Zinc Copper Boliden AB 2 Strong global financial recovery Growth 2004 Global - Cu consumption 7 % - Cu production 6 % - Zn consumption 7 % - Zn
More informationMalaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group
Malaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group 3Q 2011 Results Briefing Financial Results for 3 rd Quarter ended 30 September 2011 Kuala Lumpur - 4 November 2011 Disclaimer
More informationBoliden. Interim Report January - June Mines Smelters Zinc Copper. Boliden AB
Boliden Interim Report January - June 2005 Mines Smelters Zinc Copper Boliden AB 1 Boliden AB 2 Continued strong growth in China lower growth rate in the rest of the world Global Q2 2005* - Cu-consumption
More informationNyrstar Investor Presentation. September 2017
Nyrstar Investor Presentation September 2017 25 August 2017 Important notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or form part of,
More informationSouthern Copper Corporation
Southern Copper Corporation June 2010 0 I. Introduction 1 Safe Harbor Statement This presentation contains certain statements that are neither reported financial results nor other historical information.
More informationDeutsche Bank AG. Zinc Market Outlook. Xiao Fu Commodities Research.
AG Zinc Market Xiao Fu Commodities Research xiao.fu@db.com AG/London All prices are those current at the end of the previous trading session unless otherwise indicated. Prices are sourced from local exchanges
More information07 NOVEMBER Analyst Visit to Tennessee Mines and Clarksville Smelter
07 NOVEMBER 2011 Analyst Visit to Tennessee Mines and Clarksville Smelter Important Notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or
More information2018 Second Interim Management Statement
Regulated Information Inside Information Second Interim Management Statement 30 October at 07:00 CET HIGHLIGHTS: Group underlying EBITDA 1 of EUR 134 million for the first nine months of, a decrease of
More informationCopper market outlook: Transitioning to deficits
Copper market outlook: Transitioning to deficits Prepared for: Nonferrous Metals Forum of the Shanghai Derivatives Market Forum, 25 th May 27 Prepared by: Erik Heimlich, Senior Consultant, Copper Price
More information3 MAY Q Interim Management Statement
3 MAY 2018 Q1 2018 Interim Management Statement Important Notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or form part of, and should
More informationSouthern Copper Corporation
Southern Copper Corporation March 2010 0 I. Introduction 1 Management Presenters Presenters Raúl Jacob Title Manager of Financial Planning & IR 2 Corporate Structure 80.0% (*) Public Float 20.0% (*) 99.29
More informationOverview & Strategy. Don Lindsay President & CEO
Overview & Strategy Don Lindsay President & CEO Forward Looking Information Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning of the
More informationFull year Report. January December Lennart Evrell. Johan Fant. Bildplatshållare. President & CEO CFO
Full year Report January December 2008 Bildplatshållare Lennart Evrell President & CEO Johan Fant CFO 1 2009-02-13 Fourth Quarter 2008 Market Lower demand for base metals Negative growth in mature regions
More informationSouthern Copper Corporation November, 2016
Southern Copper Corporation November, 2016 0 I. Introduction 1 Management Presenter Presenters Raul Jacob Title Vice President, Finance & CFO 2 Safe Harbor Statement This presentation contains certain
More informationNickel Market Outlook
22/9/215 Nickel Market Outlook Stuart Harshaw This presentation may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about
More informationSecond Quarter 2014 Results. July 24, 2014
Second Quarter 2014 Results July 24, 2014 Forward Looking Information Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning of the United
More informationFocus on China: Economic Outlook. April 4, 2018 Michael Han, Chief Economist
Focus on China: Economic Outlook April 4, 218 Michael Han, Chief Economist Forward Looking Information Both these slides and the accompanying oral presentation contain certain forward-looking statements
More informationSilver Survey Update November Johann Wiebe, Lead Analyst, Precious Metals Demand
Silver Survey Update 2017 15 November 2017 Johann Wiebe, Lead Analyst, Precious Metals Demand THE SILVER MARKET IN 2017 SILVER PRICES DEMAND SUPPLY INVESTMENT PRICE OUTLOOK SILVER PRICE IN DIFFERENT CURRENCIES
More informationCommodities. Sandra Ebner,, CFA Senior Portfolio Manager Deka Investment GmbH. May, 2010
Commodities Sandra Ebner,, CFA Senior Portfolio Manager Deka Investment GmbH May, 2010 Long-term structural changes cause higher trendgrowth in commodity demand, but 7 5 Emerging markets are growing faster
More informationNyrstar announces 2011 Half Year Results
News Release Regulated information Nyrstar announces 2011 Half Year Results 27 July 2011 HIGHLIGHTS Solid Financial Performance Underlying EBITDA of 123 million, a 8% increase from H2 2010 ( 114 million)
More informationLBMA (LPPM) Precious Metals Conference September 2011 SILVER INVESTMENT THE RICH MAN S NEW STRATEGY? PHILIP NEWMAN Research Director
LBMA (LPPM) Precious Metals Conference 211 2 September 211 SILVER INVESTMENT THE RICH MAN S NEW STRATEGY?. PHILIP NEWMAN Research Director THOMSON REUTERS GFMS THE LBMA PRECIOUS METALS CONFERENCE, MONTREAL,
More informationCommodities Observing the fundamentals Written by: Dwayne Dippenaar, Research Analyst at Laurium Capital
FUNDS ON FRIDAY b y G l a c i e r R e s e a r c h 24 J u n e 2 0 1 6 V o l u m e 8 6 7 Commodities Observing the fundamentals Written by: Dwayne Dippenaar, Research Analyst at Laurium Capital The South
More informationIssue 29: Zinc Jan-16. Source: FactSet 3,000 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200. Zn spot price ($/t)
Issue : Zinc looks at how zinc should benefit from rising commodity prices, production cuts, minimal new mine development and growth in demand. There is only limited opportunity for equity exposure. Zinc
More informationInterim report Q2 2014
Interim report Q2 214 Lennart Evrell President & CEO Mikael Staffas CFO Summary Q2 214 Revenues 9 438 (8 35) MSEK EBIT ex PIR* 374 (37) MSEK EBIT 478 (-59) MSEK Free Cash Flow 92 (-1 477) MSEK MSEK 1 8
More informationNyrstar announces 2012 Full Year Results
Regulated Information Nyrstar announces 2012 Full Year Results 7 February 2013 HIGHLIGHTS Contribution from Mining segment continues to grow in line with strategy; group underlying EBITDA and PAT adversely
More informationNyrstar delivers positive Funds From Operations in H1 2018
Regulated Information Nyrstar delivers positive Funds From Operations in H1 2018 1 August 2018 at 07:00 CEST HIGHLIGHTS: Group underlying EBITDA 1 of EUR 120 million for H1 2018, an increase of EUR 9 million
More informationSouthern Copper Corporation Highlights
Southern Copper Corporation Highlights ht Southern Copper Corporation Highlights March 2009 January 2009 0 Safe Harbor Statement This presentation contains forward-looking statements, as defined by federal
More informationHINDUSTAN ZINC PRICE: RS.120 TARGET PRICE: RS.155 FY15E P/E: 6.9X; EV/EBITDA: 2.6X
COMPANY UPDATE Saurabh Agrawal agrawal.saurabh@kotak.com +91 22 6621 6309 HINDUSTAN ZINC PRICE: RS.120 RECOMMENDATION: BUY TARGET PRICE: RS.155 FY15E P/E: 6.9X; EV/EBITDA: 2.6X Just keep focus on turnaround
More informationInterim report January March 2013
Interim report January March 213 Lennart Evrell President & CEO Mikael Staffas CFO Summary Revenues 9,249 (1,321) MSEK EBIT ex PIR* 751 (1,258) MSEK EBIT 695 (1 54) MSEK Free Cash Flow -22 (888) MSEK Msek
More informationInterim report January June 2012
Interim report January June 212 Lennart Evrell President & CEO Mikael Staffas CFO Q2 Summary Revenues 1,363 (9,896) MSEK EBIT excl. PIR* 931 (1,12) MSEK Operating profit MSEK 769 (1,134) Free Cash Flow
More informationMongolia Selected Macroeconomic Indicators January 24, 2014
Mongolia Selected Macroeconomic Indicators January 2, 21 For further information, please contact: SSelenge@imf.org 2 2 27 2 29 21 211 212 213 213 Q1 Q2 Q3 Oct. Nov. Dec. Q Total US$-value 1,3 1,97 2,3
More informationMongolia Selected Macroeconomic Indicators December 18, 2013
Mongolia Selected Macroeconomic Indicators December 18, 213 For further information, please contact: SSelenge@imf.org 2 2 27 28 29 21 211 212 213 212 213 Q1 Q2 Q3 Oct. Nov. First 11 months Total US$-value
More informationFerrochrome Market Overview 2017
Ferrochrome Market Overview 217 Presented by: Mark Beveridge Principal Consultant CRU Nickel, Chrome, Stainless Steel Group Key Themes Which factors define the chrome market? 1. Chinese demand and the
More informationBank of America Merrill Lynch 2017 Global Metals, Mining & Steel Conference. 16 th May 2017 Alfredo Atucha CFO
Bank of America Merrill Lynch 2017 Global Metals, Mining & Steel Conference 16 th May 2017 Alfredo Atucha CFO Cautionary statement This presentation has been prepared by Antofagasta plc. By reviewing and/or
More informationMalaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group
Malaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group 1Q2011 Results Briefing Financial Results for 1 st Quarter ended 31 March 2011 Kuala Lumpur - 9 May 2011 Disclaimer Notice
More informationTransforming tomorrow
Transforming tomorrow Bank of America Merrill Lynch Global Metals and Mining Conference May 2010 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements
More informationEast Asia-Pacific Economic Update Clearing skies
East Asia-Pacific Economic Update Clearing skies William E. Wallace Lead Economist World Bank 4 November 29 Jakarta Indonesia Indonesia through the global crisis Growth has been picking up After stalling
More information2017 Second Interim Management Statement
Regulated Information Second Interim Management Statement 31 October at 07:00 CET HIGHLIGHTS: Group underlying EBITDA 1 of EUR 162 million for the first nine months of, an increase of 35 on the first nine
More information2018 The year of promise
2018 The year of promise January 2018 Tushar Pradhan, Chief Investment Officer We have come a long way in 2017 Source: Kotak Institutional Equities Dec 2017 Key events and performance of the Indian market
More informationTransGraph Research Consulting Technology
Research Consulting Technology Agriculture Metals Energy Dairy Currency Economy Brands Medium term outlook on Zinc July 217 2 Market Recap LME Zinc traded higher in June supported by prevailing supply
More informationMalaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group
Malaysia Smelting Corporation Bhd A Global Integrated Tin Mining and Smelting Group FY 2011 Results Briefing Financial Results for the year ended 31 December 2011 Kuala Lumpur - 2 April 2012 Disclaimer
More informationSnapshot of SA Economy
Snapshot of SA Economy Kgotso Radira 1 September 29 Economic Outlook Global share indices 2 Indices 18 16 14 12 1 8 6 4 25 26 27 28 29 S&P 5 FTSE 1 DAX Nikkei 3 Global interest rates 7 % 6 5 4 3 2 1 1999
More information1 AUGUST First Half 2018 Results
1 AUGUST 2018 First Half 2018 Results Important Notice This presentation has been prepared by the management of Nyrstar NV (the "Company"). It does not constitute or form part of, and should not be construed
More information1. Macroeconomic Highlights
1. Macroeconomic Highlights ht Macroeconomic Highlights Resilient growth over the last 2 years, despite the global economic slowdown Banking industry robust with high level of CAR and low NPLN. In 2008
More informationFinally, A Global Tailwind for U.S. Manufacturing Growth
Finally, A Global Tailwind for U.S. Manufacturing Growth MAPI Foundation Webinar December 12, 217 Cliff Waldman Chief Economist cwaldman@mapi.net Key Takeaways The global economic recovery is both strengthening
More informationAlcoa s Perspective on Global Aluminum Platts Aluminium Symposium January Greg Wittbecker, Vice President, Alcoa Materials Management
Alcoa s Perspective on Global Aluminum Platts Aluminium Symposium 2012 16 January 2012 Greg Wittbecker, Vice President, Alcoa Materials Management Cautionary Statement Forward-Looking Statements This presentation
More informationCHINA S RESPONSES TO GLOBAL FINANCIAL CRISIS
CHINA S RESPONSES TO GLOBAL FINANCIAL CRISIS Yiping Huang Seminar at the Crawford School of Economics and Government, ANU, March 1, 29 GLOBAL FINANCIAL CRISIS Three unique factors contributed to the current
More informationLME EV Battery Materials
LME EV Battery Materials December 2017 SETTING THE GLOBAL STANDARD LME is at the core of the global metal markets LME is the leading global exchange in all non-ferrous metals LME provides market leading
More informationINDONESIA ECONOMIC QUARTERLY MARCH 2013
INDONESIA ECONOMIC QUARTERLY MARCH 213 PRESSURES MOUNTING Jim Brumby, PREM Sector Manager & Lead Economist Paramadina Public Policy Institute, March 213 www.worldbank.org/id MARCH 213 IEQ LAUNCH PRESENTATION
More information2015 Global Metals, Mining & Steel Conference Barcelona, 12 May 2015
2015 Global Metals, Mining & Steel Conference Barcelona, 12 May 2015 Forward looking statements This document contains statements that are, or may be deemed to be, forward looking statements which are
More informationGlobal Resources Fund (PSPFX)
Global Resources Fund (PSPFX) Global Resources are the building blocks of the world we live in. As the world s population grows and emerging regions develop a more vibrant infrastructure for commerce,
More informationManaging in an Uncertain Environment. John Bowe, President the Americas, APL Northwestern University, April 23, 2009
Managing in an Uncertain Environment John Bowe, President the Americas, APL Northwestern University, April 23, 2009 1 Global GDP forecasts 2009 a changed world post September 08 Changes in 2009 GDP Growth
More informationMongolia Selected Macroeconomic Indicators September 19, 2013
Mongolia Selected Macroeconomic Indicators September 19, 13 For further information, please contact: SSelenge@imf.org Jan-8 May-8 Sep-8 Jan-9 May-9 Sep-9 Jan-1 May-1 Sep-1 May-11 Sep-11 May-1 Sep-1 May-13
More informationAcquisition of Anglo American Zinc. May 10, 2010
May 1, 21 Cautionary Statement and Disclaimer This presentation may contain information derived from publicly available sources that have not been independently verified. No representation or warranty
More informationFCX Conference Call to Discuss Revised Operating Plans
FCX Conference Call to Discuss Revised Operating Plans December 3, 2008 www.fcx.com Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements in which
More informationAnnual Accounts February 1, 2007 Juha Rantanen, CEO.
Annual Accounts 2006 February 1, 2007 Juha Rantanen, CEO www.outokumpu.com Highlights in 2006 Market development Improvement actions update and strategic direction Annual Accounts 2006 Outlook 2 February
More information2009 FULL YEAR FINANCIAL RESULTS
OZ MINERALS 2009 FULL YEAR FINANCIAL RESULTS TERRY BURGESS MANAGING DIRECTOR & CEO ANDREW COLES CHIEF FINANCIAL OFFICER 25 February 2010 WWW.OZMINERALS.COM OZ MINERALS NOVEMBER 2009 PAGE 1 IMPORTANT NOTICE
More informationBusiness performance compared with the first nine months of the prior year was mainly influenced by the following factors:
Despite the weak economic environment Aurubis AG breaks even in the first nine months of fiscal year 2008/09 and records a significantly higher net cash flow than in the prior year Hamburg, 12 August 2009
More informationBMO Capital Markets 2017
BMO Capital Markets 2017 Global Metals & Mining Conference 27 th February 2017 Iván Arriagada Chief Executive Officer Cautionary statement This presentation has been prepared by Antofagasta plc. By reviewing
More informationGlobal Economic Prospects and the Developing Countries William Shaw December 1999
Global Economic Prospects and the Developing Countries 2000 William Shaw December 1999 Prospects for Growth and Poverty Reduction in Developing Countries Recovery from financial crisis uneven International
More information2008 CRISIS : COLD OR CANCER?
2008 CRISIS : COLD OR CANCER? MARTIAL FOUCAULT Université de Montréal 28 juin 2010 1 Plan of the talk Crisis: what does it mean? The American financial crisis followed by a worldwide economic crisis Market
More informationMexican Q1 economic data: a reality shock, or there is still a brighter outlook?
Mexican Q1 economic data: a reality shock, or there is still a brighter outlook? Rafael Amiel, Director Latin America Economics IHS Global Insight Julio 2013 Mexico becomes fashionable again Mexico Makes
More informationInterim Report January June 2010
Interim Report January June 21 Lennart Evrell President & CEO Johan Fant CFO Second quarter 21 The Market Concerns over China price volatility Improving demand Metal prices down gold, silver up Tight concentrate
More informationAPPENDIX ECONOMIC INDICATORS DEVELOPED ECONOMIES
16 QUARTERLY INVESTMENT STRATEGY APPENDIX ECONOMIC INDICATORS DEVELOPED ECONOMIES Purchasing Managers Index EMERGING ECONOMIES Purchasing Managers Index US Eurozone Japan Brazil Russia India China Industrial
More informationThird Quarter Fiscal 2010 Earnings Call
Presented By: Thomas A. Burke President and CEO Robert R. Kampstra Vice President, Corporate Controller and Chief Accounting Officer Third Quarter Fiscal 2010 Earnings Call February 2, 2010 10:30 am CT
More informationPage 2 of 7 March 2019
Page 2 of 7 March 2019 Energy and Materials Crude Oil Natural Gas (WTI) (Henry Hub) (AECO) Lumber US$/bbl US$/mmbtu US$/mbf 2006 66.10 6.74 5.76 290 2007 72.36 6.98 6.02 245 2008 99.57 8.86 7.79 215 2009
More informationCore strength, sustainable growth. Lakshmi Mittal, Chairman and CEO Investor Day - 23 September 2011
Core strength, sustainable growth Lakshmi Mittal, Chairman and CEO Investor Day - 23 September 2011 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements
More informationFor personal use only
2012 Wilson HTM Rapid Insights Conference Nick Jukes Chief Executive Officer Ian Poole Chief Financial Officer 12 November 2012 Disclaimer 2 The following disclaimer applies to this presentation and any
More informationVol. 16 No. 29. Weekly Economic Highlights
Vol. 16 No. 29 Weekly Economic Highlights Week Ending 18 July 2014 0 1. INTEREST RATES Deposit Rates During the week ending 18 th July 2014, interest rates remained largely unchanged at all banking institutions.
More informationLoop Capital Metals & Mining Conference. March 2017
Loop Capital Metals & Mining Conference March 2017 1 IMPORTANT INFORMATION ABOUT RYERSON HOLDING CORPORATION These materials do not constitute an offer or solicitation to purchase or sell securities of
More informationTransGraph Research Consulting Technology
Research Consulting Technology Agriculture Metals Energy Dairy Currency Economy Brands Medium term outlook on Lead July 217 2 Market Recap LME Lead remained weak last month but recovered towards the end
More informationCapital Markets Day 2006
Capital Markets Day 2006 www.hydro.com 2006-09-28 Cautionary note in relation to certain forward-looking statements Certain statements contained in this announcement constitute forward-looking information
More informationChina s Economic Growth Model Medium and Long Term Challenges
China s Economic Growth Model Medium and Long Term Challenges Geng XIAO Fung Global Institute www.funglobal institute.org Centre of economic gravity is shifting back to East Asian Century Scenario by Asian
More informationMULTI-ASSET CLASS 1 EQUITIES: DEVELOPED COUNTRIES 1 EQUITY EMERGING COUNTRIES 2
10 2 3 6 8 9 13 14 MULTI-ASSET CLASS 1 EQUITIES: DEVELOPED COUNTRIES 1 EQUITY EMERGING COUNTRIES 2 Alpha Current Previous Alpha Current Previous Alpha Current Previous weight weight weight weight weight
More informationOutlook for Physical Gold & Silver Demand. Philip Newman Denver Gold Group, European Gold Forum 7 th May 2014
Outlook for Physical Gold & Silver Demand Philip Newman Denver Gold Group, European Gold Forum 7 th May 214 About Metals Focus Truly independent precious metals consultancy Experienced team of precious
More informationA Global Economic and Market Outlook
A Global Economic and Market Outlook Presented by Dr Chris Caton December 2008 US Housing starts and Permits 2.3 (Millions) Permits Starts 2.1 1.9 1.7 1.5 1.3 1.1 0.9 0.7 96 97 98 99 00 01 02 03 04 05
More informationNyrstar. Unaudited Interim Condensed Consolidated Financial Statements
Nyrstar Unaudited Interim Condensed Consolidated Financial Statements 30 June 2018 1 INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT six months six months ended ended EUR million Note 30 Jun 2018 30 Jun
More informationCorporates. FY16 Outlook: Non-ferrous Metals. Physical Premiums to Cushion Margins Against Uncertain Global Recovery and US Rate Hike STABLE
Non Ferrous Physical Premiums to Cushion Margins Against Uncertain Global Recovery and US Rate Hike Outlook Report Sector Outlook STABLE (214: STABLE TO NEGATIVE) AL and Zn Prices May Creep Upward Recovery
More informationInvestment Update. Agenda 7/11/2013. The University of Melbourne TOPIC PRESENTER. David Schneider Head of Research & Quant Methods
Investment Update The University of Melbourne 7 November, 2013 Agenda TOPIC Investment Update (45 min) UniSuper Investment Options & Advice (10 min) PRESENTER David Schneider Head of Research & Quant Methods
More informationNorth American Steel Industry Recent Market Developments, Future Prospects and Key Challenges
North American Steel Industry Recent Market Developments, Future Prospects and Key Challenges OECD Steel Committee December 1-11, 29 Paris, France * American Iron and Steel Institute (AISI) Steel Manufacturers
More informationGold, Silver, And The Global Economy Outlook
Gold, Silver, And The Global Economy Outlook Peruvian International Gold and Silver Symposium 21 May 2014 Jeffrey M. Christian Managing Partner jchristian@cpmgroup.com 30 Broad Street, 37 th Floor New
More informationThe Big Picture. Long-Term Trends in Global Infrastructure Investment and Commodity Prices. Warren Hogan. Chief Economist.
The Big Picture Long-Term Trends in Global Infrastructure Investment and Commodity Prices Warren Hogan Chief Economist May 212 Outline Global Infrastructure Spending Trends Catching up for the industrialised
More informationEarly, But Fundamentally Correct
Early, But Fundamentally Correct Economic Update By Avery Shenfeld, Chief Economist & Managing Director June 11, 29 A Shock Heard Round the World 6 5 4 3 2 1-1 -2 y/y % chg in W orld Real GDP Forecast
More informationInvestor Presentation. Heavy plate rolling mill starts operating in July at the Ouro Branco mill (MG)
Investor Presentation Heavy plate rolling mill starts operating in July at the Ouro Branco mill (MG) Agenda Outlook Gerdau Highlights 2 Economic Outlook GDP Growth 2014 2015f 2016f World 3.4% 3.1% 3.4%
More informationUnilever Trading Statement Q Graeme Pitkethly / Richard Williams 19 th April 2018
Unilever Trading Statement Q1 2018 Graeme Pitkethly / Richard Williams 19 th April 2018 SAFE HARBOUR STATEMENT This announcement may contain forward-looking statements, including forward-looking statements
More informationGlobal Financial Crisis: Impact on India
Global Financial Crisis: Impact on India Mathew Joseph Pankaj Vashisht ICRIER-INVENT Workshop Current Developments in Indian Financial System New Delhi 20 March 2009 1 Roots of Global Crisis Global macroeconomic
More informationGlencore after the commodity supercycle
Glencore after the commodity supercycle Daryn Munnik - Associate Analyst Glencore is the world s third-largest diversified mining company by market capitalization. It was listed on the JSE Securities Exchange
More informationEmerging Markets Debt: Outlook for the Asset Class
Emerging Markets Debt: Outlook for the Asset Class By Steffen Reichold Emerging Markets Economist May 2, 211 Emerging market debt has been one of the best performing asset classes in recent years due to
More informationFinance. Greg Robinson Director Finance
Finance Greg Robinson Director Finance 2 Strategic focus 3 Market Perspective Redefined Metals and Mining landscape Global Metals and Mining Landscape May 2008 vs. today 250 125 0 236 104 182 131 162 88
More informationTHE IMPACT OF FINANCIAL TURMOIL ON THE WORLD COTTON AND TEXTILE MARKET
THE IMPACT OF FINANCIAL TURMOIL ON THE WORLD COTTON AND TEXTILE MARKET Presented by Paul Morris Chairman of the Standing Committee INTERNATIONAL COTTON ADVISORY COMMITTEE 1999 China International Cotton
More informationGlobal Economic Prospects: Navigating strong currents
Global Economic Prospects: Navigating strong currents Andrew Burns World Bank January 18, 2011 http://www.worldbank.org/globaloutlook Main messages Most developing countries have passed with flying colors
More informationGlobal Capital Confidence Barometer Korea
8th issue Outlook April-October 2013 Global Capital Confidence Barometer Korea A more cautious local outlook The Korea story About this survey The Global Capital Confidence Barometer is a regular survey
More informationAll the BRICs dampening world trade in 2015
Aug Weekly Economic Briefing Emerging Markets All the BRICs dampening world trade in World trade in has been hit by an unexpectedly sharp drag from the very largest emerging economies. The weakness in
More informationEurozone Economic Watch. February 2018
Eurozone Economic Watch February 2018 Eurozone: Strong growth continues in 1Q18, but confidence seems to peak GDP growth moderated slightly in, but there was an upward revision to previous quarters. Available
More information