Consolidated March 31st

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Financial balances year 2002 | March 31st, 2001
General Balance as of March 31st, 2001 (thousands of US$)

BALANCE SHEETS
ASSETS	Balance Sheets as of		Increase	LIABILITIES	Balance Sheets as of		Increase
	March 31st,2001	March 31st,2000	(Decrease)		March 31st,2001	March 31st,2000	(Decrease)
CURRENT ASSETS	987,378	973,944	13,434	CURRENT LIABILITIES	834,245	648,690	185,555
Cash	2,118	8,511	-6,393	Bank debt	451,746	264,568	187,178
Time deposits and marketable securities	46,710	57,578	-10,868	Accounts payable	174,762	159,063	15,699
Trade accounts receivable	170,677	204,531	-33,854	Accrued liabilities and withholdings	205,872	206,276	-404
Other accounts receivable	186,967	160,781	26,186	Income taxes	133	14,708	-14,575
Inventory	564,059	524,477	39,582	Other current liabilities	1,732	4,075	-2,343
Prepaid expenses	15,463	16,844	-1,381	Provisions income tax
Other current assets	1,384	1,222	162	Minus: credits for tax, training and others

FIXED ASSETS	4,170,829	4,093,348	77,481	LONG TERM LIABILITIES	2,279,021	2,326,981	-47,960
Land, infrastructure and equipment, net	3,336,202	3,401,080	-64,878	Bank debt	725,000	830,000	-105,000
Construction-in-progress	547,037	427,594	119,443	Bonds	300,000	300,000	0
Mine development,net	287,590	264,674	22,916	Provisions	537,716	626,360	-88,644
				Deferred taxes	706,107	560,552	145,555
				Other long-term liabilities	10,198	10,069	129

OTHER ASSETS	680,311	667,255	13,056	EQUITY	2,725,252	2,758,876	-33,624
Other assets	323,424	272,407	51,017	Paid-in capital	1,524,423	1,524,423
Investments in other companies	254,372	235,149	19,223	Other reserves	1,226,797	1,226,843
Long-term accounts receivable	102,515	159,699	-57,184	Net income for the period	40,701	61,380
				(Less) Profit advances to the Chilean Treasury Department	-66,669	-53,770

TOTAL ASSETS	5,838,518	5,734,547	103,971	TOTAL LIABILITIES AND EQUITY	5,838,518	5,734,547	103,971