Glossary

Proprietary ore ratio

This ratio is the proportion by volume of ore procured from overseas mining interests relative to the overall volume of smelting ores used as raw materials.
Typically, off-take rights are proportional to the equity interest in a mine.
In the case of Cerro Verde, SMM has secured 50% off-take rights for the first ten years of production from 2006, based on a 21% equity interest.

Simulation of unit conversion

Unit conversion table

toz g kg
1 31.1 0.0311
0.0321 1 0.001
32.15 1000 1
lb g kg
1 454 0.454
0.0022 1 0.001
2.205 1000 1
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