Mount Isa, 2 December 2010

Xstrata Mount Isa Mines has won the 2010 Australian Export Awards in the Minerals and Energy category in recognition of a 22 percent increase in exports in the 2010 financial year to $2.3 billion.

Chief Operating Officer, Xstrata Zinc Australia, Mr Brian Hearne received the award on behalf of both Xstrata Copper and Xstrata Zinc in the presence of the Minister for Trade, the Hon Craig Emerson MP at an event in Sydney last night.

Mr Hearne said the award is a great recognition for the operations considering the large number of major resource and energy companies active in Australia.

"It shows that one of the oldest mining operations in Australia is still highly competitive," Mr Hearne said.

"The increase in export volumes in recent years reflects the success of our focus on organic growth during a period of unprecedented volatility in global markets. We are proud of what our teams have achieved in North Queensland."

Xstrata Mount Isa Mines currently employs 4,000 personnel in Mount Isa, Cloncurry, Townsville and Bowen.

Between 2008 and 2010, zinc and copper exports by volume increased by 105% and 20% respectively.

Mr Hearne said both commodity businesses are now planning for continued growth in production and export volumes.

"Both the copper and zinc streams are investing in the sustainability of long term production," he said.

Xstrata Zinc has this year announced over $400 million in developments to expand both open pit and underground operations and maintain a high level of production.

Xstrata Copper has commenced work on the $589 million development of the Ernest Henry underground mine and construction of a magnetite extraction plant. The magnetite processing operation will produce approximately 1.2 million tonnes of magnetite per annum for export to Asia and become Queensland’s first iron ore concentrate producer.