We use Key Performance Indicators (KPIs) to assess performance in terms of meeting our strategic and operating objectives.

Performance is measured against the following financial, operating and sustainability KPIs:

EBITDA*
$4,836m

Why it is important

This is a measure of our underlying profitability.

Performance in 2021

EBITDA increased by 76.6% to $4.8 billion with an EBITDA margin of 64.7%, reflecting a strong copper price, controlled costs and solid production.

* Non-IFRS measures, refer to the alternative performance measures section on page 229 of the Annual Report 2021.

Earnings per share*
$142.5¢ /share

Why it is important

This is a measure of the profit attributable to shareholders, before and after exceptional items.

Performance in 2021

Underlying earnings per share from continuing operations increased by 161% compared to 2020 with higher EBITDA partly offset by higher non-controlling interests and tax. Earnings per share including discontinued operations and exceptional items rose by 155%.

* Underlying EPS from continuing operations, excluding exceptional items and EPS from continuing and discontinued operation, including exceptional items. A reconciliation can be found on page 199 of the Annual Report 2021.

Net debt/(Net cash)*
($541m)

Why it is important

This measure reflects our financial liquidity.

Performance in 2021

Strong balance sheet with net cash of $541 million at the end of 2021, an improvement of $623 million from the net debt position at the end of 2020.

*100% of Los Pelambres, Centinela and Antucoya, and 50% of Zaldívar’s production.

Profit before tax*
$3,477m

Why it is important

This is a measure of our profitability before the deduction of taxes

Performance in 2021

Profit before tax increased by 146% to $3.5 billion.

Copper production*
721.5k tonnes

Why it is important

Copper is our main product and largest source of revenue.

Performance in 2021

Copper production was 721,500 tonnes reflecting lower grades and the impact of the drought at Los Pelambres, partially offset by higher grades at Centinela Concentrates

* 100% of Los Pelambres, Centinela and Antucoya, and 50% of Zaldívar’s production.

Net cash costs*
$1.20/lb

Why it is important

This is a key indicator of operating efficiency and profitability.

Performance in 2021

Net cash costs were $1.20/lb, 5.3% higher than last year due to the stronger Chilean peso, higher energy and diesel prices, and lower production, partially offset by an increase in by-product credits.

* Non-IFRS measures, refer to the alternative performance measures section on page 229 of the Annual Report 2021.

Mineral resources*
19.1bn tonnes

Why it is important

The Group’s mineral resources base supports its strong organic growth pipeline.

Performance in 2021

Mineral resources reduced, partly offset by the inclusion of the Cachorro deposit for the first time.

* Mineral resources (including ore reserves) relating to the Group’s subsidiaries on a 100% basis and Zaldívar on a 50% basis.

Safety
1.3 LTIFR

Why it is important

Safety is our top priority, with fatalities and the LTIFR5 being two of our principal measures of performance.

Performance in 2021

Very sadly there was a fatality at Los Pelambres.

Our LTIFR also increased, primarily related to our growth projects.

Water withdrawal
69 GL

Why it is important

Water is a precious resource and we are focused on using the most sustainable sources and maximising its efficient use.

Performance in 2021

The Mining division’s operational sea water withdrawals in 2021 increased by 8% compared to 2020 as ore throughput increased at Centinela and Antucoya, and continental water withdrawals reduced by 3%.

CO2e Emissions intensity*
3.00 tC02e/tCu

Why it is important

We recognise the risks and opportunities arising from climate change and the need to measure and mitigate greenhouse gas (GHG) emissions.

Performance in 2021

While CO2 e emissions intensity were unchanged compared to 2020, total emissions fell by 1.8%.

* Tonnes of CO2 equivalent per tonne of copper produced.