Business Scope
 |
| The Cerrejon Mine achieved record operating and earnings performance in 2000. |
- ExxonMobil operates coal mines in Colombia and the United States.
Industry Conditions
- Coal prices began to recover after mid-year.
- The demand for coal increased, while some supply interruptions occurred in the Asia-Pacific region.
Coal Strategies
- Increase productivity and reduce costs through process improvements, improved equipment reliability, and selective equipment upgrades
- Optimize production capacity at existing operations
2000 Highlights
Record earnings of $95 million.
Record Cerrejón coal production and sales, of 18.4 million metric tons and 19.2 million metric tons, respectively.
Coal unit costs reduced by 11 percent to lowest-ever levels.
Development of new mining areas at Cerrejón continued.
"Meritorious Emerald Cross" awarded by Colombian Safety Council to Cerrejón.
Coal Operations
|
Country |
2000 Production |
 |
| |
|
(millions
of metric tons) |
| Cerrejón (ExxonMobil
interest 50 percent) |
Colombia |
18.4 |
| Ulan (ExxonMobil
interest 36 percent) (1) |
Australia |
4.8 |
| Lemington (ExxonMobil
interest 100 percent) (1) |
Australia |
3.3 |
| Monterey No.1 (ExxonMobil
interest 100 percent) |
United
States |
2.4 |
(1) Sold interests in Australian coal in late 2000 and early 2001.
| STATISTICAL RECAP
(1) |
2000 |
|
1999 |
1998 |
1997 |
| |
| Earnings (millions
of dollars) |
95 |
|
53 |
42 |
3 |
| Coal production (millions of metric tons) |
16.6 |
|
16.9 |
15.5 |
15.0 |
| Coal resources (millions
of metric tons) |
3,003 |
|
3,168 |
3,588 |
3,291 |
| Average capital employed
(millions of dollars) |
737 |
|
796 |
830 |
905 |
| Capital expenditures
(millions of dollars) |
35 |
|
59 |
31 |
44 |
|
Minerals and Coal Terminology
Reserves are the estimated tonnage of ore materials and coal that geologic and engineering data demonstrate with reasonable certainty to be extractable in future years using specified mining techniques. Coal reserves also take into account any expected loss due to cleaning and processing. Resources include reserves as well as other bodies of material in which ExxonMobil has an interest, but are less well-defined than reserves and for which technical work, engineering studies, and/or changed economic conditions are required to confirm the mineability of the material.
The average grades quoted express the estimated percentage of metals contained in the ore. The cutoff grade used to calculate the tonnage and average grade of each deposit is the metal content limit above which the reserves may be extracted and processed.
|
