Eduardo Flores Zelaya
+(56-9) 9218-8987nationality: Chilean
Age: 47 years
EDUCATION
Universidad Federico SantaMaria, Chile / Electrical Engineering 1983Industrial Engineering 1987 / Top Honor student
Areas of Experience / Worldwide green field mining project development and operation.Companies take over, local governmentsshareholders negotiations, legal management,resources Infill drilling campaigns, scoping and feasibility analysis, project financing, construction, cross border optimization, strategic planning andhuman resources development. Further operation; strategic planning, corporate finance,treasury, tax and accounting, supply management, marketing, IT and administration.
Corporate finance, tax, & planning. Supply Management.
Foreign investment contracts. Cross border financing andtaxation, treasury,surplus of cash administration. Credit management. Import and export trading. Financial analysis-reporting, and tax books. Audit and internal controls. Insurance management. Coordination of government institutions (Central Bank, Foreign Investment, Customs, IRS, Ministries). Worldwide supply management (procurement, contracting and logistic).
EMPLOYMENT HISTORY
Corporate Chief Financial Officer / Antofagasta Minerals S.A. – AMSA100% Antofagasta plc,
Dec ’07 to date
Santiago, Chile / Management of corporate finance, treasury, purchasing-logistic, and information technology on annual holding operations for Antofagasta.
Management of detailed corporate matters on business conducted in Pakistan and Australia. Director of Tethyan Copper Company Pty Ltd.
Managing Director / Tethyan Copper Company Pty Ltd
50% Antofagasta plc, 50% Barrick Gold Corporation,
May ’06 to Nov ’07
Perth, Australia
Islamabad, Pakistan / Tethyan Copper Company, a joint venture between Antofagasta plc and Barrick Gold Corporation engaged in green field project in Balochistan province, Pakistan for exploitation of one of the largest worldwide copper and gold resources with expected initial capex of US$1.500 million. Responsible for the take over and development of the company andproject direction, infill drilling program and scoping study analysis. Preparation of the Mineral Agreement (stability agreement). Negotiation with the Government of Pakistan and Government of Balochistan.
Development of the company organization based on Perth, Islamabad, Karachi and field offices. Development and approval of the pre-feasibility stage, and further budget approval to enter bankable feasibility analysis.
Preparation of extensive stakeholders relation programs including all regional and federal representatives.
Corporate Chief Financial Officer / Antofagasta Minerals S.A. – AMSA
(100% Antofagasta plc, UK)
2005 to April ‘06
Santiago, Chile / Management of corporate finance, treasury, tax, accounting, purchasing-logistic, and information technology on annual holding operations for Minera Los Pelambres, Minera El Tesoro and Minera Michilla (3rd Chilean and 10th World Copper Producer). About 500 Kton per year of copper production, turnover US$2,5 billion and EBITDA of US$1,7 billion (2006)
Chief Financial Officer, Strategic Planning Manager / Minera El Tesoro – MET
(61% Antofagasta plc, UK, 39% AMP Investment, Australia)
1998 to 2004
Santiago, Chile
New York, USA / Started with this Company as Chief Financial Officer and rose to position of Strategic Planning Manager. Work involved treasury, tax, accounting, purchasing-logistic, and marketing optimization on annual operations. Short and long term budgeting process. Senior debt refinancing of US$175 million awarded by UK Project Finance magazine as “Mining Deal of 2002”. Management of “MET” brand certification and registration at the London Metal Exchange. Marketing and contracts administration of the US$150 million per year sales.
Management of monthly and annual reporting processes. Shareholders information and board presentations for short and long-term decisions. Opex and capital expenditures management for the plant and mine requirements (large mine fleet purchases, maintenance contracts, plant services, transportation, logistics, etc).
Management and negotiation of US$300 million Project Financing (syndicated loan and subordinated debt). Credit facilities, term sheet – loan contracts, legal negotiation, due diligence, financial model, hedge & insurance programs, and completion test development. Project’s feasibility study analysis and clean sheet capital redesign. Engineering Procurement and Construction EPC, company selection and negotiation. As Strategic Planning Manager was responsible for strategic planning, new business opportunities analysis, short and long term projections, annual detailed analysis on the operations and company results. Implementation of the Business Model Units based on profit center or economic value added measurement. Development of long-term plan based on the strategic analysis using balanced scored card methodology. Development of the computer long term model to cover potential best economic scenarios analyses using the integration of the mine, plant, and services models.
Finance Manager / Compañía Minera Disputada de Las Condes, Chile
(100% Exxon Coal & Minerals – ECMC- affiliate)
Financial and Administration Services Department
1996 to 1997
Santiago, Chile / Treasury, finance and cross border tax projects. Debt vs. Equity and external financing for the Los Bronces Mine US$600 million expansion project. Tax depreciation project for the company's US$1,5 billion assets. Inter-company US$800 million debt refinancing plan, merger with Esso Chile. Earnings reinvestment plan between Chile and Colombia, and tax loss carry forward project alternatives. Cash management (US$550 million per year). Treasury and foreign exchange (US$220 million per year).
Centralized administration to meet or exceed Central Bank, DL600, local tax and Foreign Investment Committee regulations. Credit assessment of local and external sales terms (US$550 million per year). Contractor and supplier financial analysis and credit assessment. Corporate insurance.
Financial Planning & Reporting. Planning and Budget exercise for short and long-term decisions. Computer planning models. Internal and External Auditor coordination. Information for Exxon and minority shareholders.
Senior Financial Specialist / Exxon Coal and Minerals Company - ECMC (ExxonMobil)
Corporate Affairs Department
1993 to 1995
Houston, USA / Regional planning & budget execution, control and coordination for Disputada´s and Intercor (ECMC's Colombian affiliate). Corporate strategies to increase local affiliate cross border cash results via tax optimization. Financial reporting to Exxon Corporation.
Planning & cash flow analysis (financing strategies) for both affiliates including local and US effects on total earnings and dividend remittance. Strategies to capitalize Chile's US$1 billion debt and introduction of leverage into the US$1,5 billion Colombian capital investment (improving tax effects on net cash return).
Preparing and summarizing the 1994-95 planning and budget for ECMC region (large investments economics, cash flow strategies, capex plan, tax optimization).
Training and work experience in corporate strategies, local and US tax and accounting principles, financial reporting and administration, financial evaluations from the cross border cash flow perspective, risk vs. benefits in Latin American businesses, management and administration, cultural concerns.
Purchase Manager / Compañía Minera Disputada de Las Condes, Chile
(100% Exxon Coal & Minerals – ECMC- affiliate)
Materials Department
1988 to 1993
Santiago, Chile / Started with the Company in the position of Materials Engineer and served successively as assistant purchase manager, logistic division manager, finance specialist and then Purchase Manager. In this last position work involved: Supervision and coordination of Disputada's materials requirement (US$120 million per year) for each of the two copper mines (underground and open pit), and for the copper flash smelter; Corporate purchases (mobile equipment, MARC contracts, tires, computers, spare parts, etc.) and support in market intelligence from Exxon's worldwide network; Contractor & supplier alliances, purchase agreement and start-up of external purchasing agency service; coordination and successful start-up of the MIMS - ERP centralized materials and maintenance information system and impact reduction, training, continuity plan, electronic approval concept, and management of the change.
Teaching Assistant / UniversidadFederico Santa Maria,Chile
1981 to 1987
Valparaiso, Chile / School of Engineering teaching assistant. Sections on basic engineering, advanced electrical, and financial topics (Mathematics and Calculus, Electrical Fields, Electrical Measurements, Electrical Engineering, Project Evaluation, Production, Basic Plant Engineering, Finance I and II, Engineering Optimization).