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Colombia

Cerro Matoso Mine

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Cerro Matoso Mine

Location: 40 km W from Caucasia, Colombia

Address:

Km. 22 Carretera Sur Oriente, Córdoba
Montelibano
Colombia
234001

Contacts:

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Categories

Summary

Mine TypeOpen Pit
StatusActive
Commodities
  • Nickel
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
Mine Life... Lock
SnapshotCerro Matoso is an integrated nickel laterite mine and smelter that produces ferronickel used to make stainless steel.

Owners

SourceSource
CompanyInterestOwnershipInvestor's Info
South32 Ltd. 99.9 % Indirect
Cerro Matoso S.A. (operator) 100 % Direct
South32 owns 99.9 per cent of Cerro Matoso. Current and former employees own 0.02 per cent, with the balance of shares held in a reserve account following a buy-back.

In July 2025, South32 has entered into a binding agreement to sell Cerro Matoso to a subsidiary of CoreX Holding B.V.

The Transaction is expected to complete in late CY25, subject to these conditions.

Contractors

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SourceSource

Deposit type

  • Laterite
  • Saprolite

Summary:

The Cerro Matoso deposit is located to the south of Cordoba and north of Antioquia provinces, where three peridotite bodies are present in a north-south orientation, referred to as the Cerro Matoso nickel belt. The peridotites are associated with a Cretaceous ophiolite complex, located along the northern extension of the regional NNE–SSW-oriented Cauca-Romeral fault system. Tertiary age argillaceous sediments with local coal horizons surround the peridotites.

The peridotites are present in the following areas:
• Cerro Matoso mine area, comprising the current mine and possible extensions below sedimentary cover;
• Planeta Rica License area, located 40 km north of Cerro Matoso mine;
• Uré License area, located 15 km south of Cerro Matoso mine.

The local geological setting of Cerro Matoso is characterised by a complex set of rock types that have been grouped into a number of major rock sets.

This geological basis for the rock type grouping is critical, as the local laterite profile is characterised not only by the evolutionary products of a typical tropical laterite weathering profile, but by several unique lithologies that also occur, including tachylite and very dark (black) saprolite units.

The resulting vertical layering is based on common physical and chemical features and from top to bottom consists of four zones – a sedimentary cover, a limonitic zone, a saprolitic zone and fresh peridotite bedrock.

The principal mineralisation types consist of Saprolite containing Serpentine and Ni-bearing Smectite as well as Ni bearing Goethite. The bulk of mineralisation at Cerro Matoso is found in the low MgO green Saprolite. Mineralisation is also present in high MgO green Saprolite, black Saprolite, brown Saprolite and Saprolitised Peridotite. Other lithologies have lesser amounts of mineralisation.

Mineralisation in the form of fracture filling garnierite (with locally very high Ni grades) is also present in veins in the lower lithologies of the profile such as in green Saprolite and Saprolitised Peridotite.

In the upper levels of the weathering profile the basement structures have not played a major part in the mineralisation controls with the sub horizontal weathering being dominant. Recent bench mapping has defined the rock types in the exposed faces and floors resulting in a detailed picture of the influence of the structures on the weathering and rock type. These structures are significant as they are capable of extending partially weathered Ni mineralisation up to 100 m or more below the current pit floor bedrock where present. The reduced influence of weathering and the increased influence of the structure on the rock type variability at the current pit floor is a major factor in the reconciliation issues experienced in recent years.

Reserves

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Mining Methods

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Heavy Mobile Equipment

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Commodity Production

CommodityUnits20252024202320222021202020192018201720162015
Nickel kt  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe41 44 36 37 40 
All production numbers are expressed as payable metal. ^ Guidance / Forecast.

Operational metrics

Metrics20252024202320222021202020192018201720162015
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe2,738 kdmt2,722 kdmt2,561 kdmt2,699 kdmt2,629 kdmt
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe2,278 kwmt3,741 kwmt4,447 kwmt6,009 kwmt6,321 kwmt
Annual processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe3 Mt
^ Guidance / Forecast.

Production Costs

CommodityUnits202520242023202220212020201920182017
Cash costs (sold) Nickel USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 3.99 / lb   3.67 / lb   3.77 / lb  
^ Guidance / Forecast.

Operating Costs

Currency20222021202020192018
Total operating costs ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Mine Financials

Units202520242023202220212020201920182017
Capital expenditures (planned) M USD
Growth Capital M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 32   22   14  
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 489   559   377  
EBIT M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 40   120   -16  
EBITDA M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 127   209   74  

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2025
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....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2025
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2025
....................... Subscription required ....................... Subscription required Aug 30, 2025

Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required 2025
...... Subscription required 2024
...... Subscription required 2023
...... Subscription required 2022
...... Subscription required ...... Subscription required ...... Subscription required 2021
...... Subscription required ...... Subscription required ...... Subscription required 2020
...... Subscription required ...... Subscription required ...... Subscription required 2019
...... Subscription required ...... Subscription required ...... Subscription required 2018

Aerial view:

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