Las Bambas is located in a belt of Cu (Mo-Au) skarn deposits associated with porphyry type systems situated in south-eastern Peru. This metallogenic belt is controlled by the Andahuaylas-Yauri Batholith of Eocene- Oligocene age, which is emplaced in Mesozoic sedimentary units, with the Ferrobamba Formation (Lower-to-Upper Cretaceous) being of greatest mineralising importance. The porphyry style mineralisation occurs in quartz-monzonite to granodiorite rocks. Hypogene copper sulphides are the main copper bearing minerals with minor occurrence of supergene copper oxides and carbonates near surface. The intrusive rocks of the batholith in contact with the Ferrobamba limestones gave rise to contact metamorphism and, in certain locations, skarn bodies with Cu (Mo-Au) mineralisation. Dimensions The Las Bambas Mineral Resources comprise three distinct deposits; each have been defined by drilling and estimated: o Ferrobamba Mineral Resources occupies a footprint which is 2500m N-S and 1800m E-W and over 900m vertically. o Chalcobamba Mineral Resources occupies a footprint of 2300m N-S and 1300m E-W and 800m vertically o Sulfobamba Mineral Resources is 1800m along strike in a NE direction and 850m across strike in a NW direction and 450m deep.

Mining of the Las Bambas deposits is undertaken by open pit method, which is expected to continue throughout the life of mine. Large scale mining equipment including 300 tonne trucks and 100 tonne electric face shovels are used for material movement.

The mining method selected for the Las Bambas operation is open cut mining, which enables bulk mining of these large low to moderate grade mineral deposits that are outcropping to sub-cropping. Three deposits, Ferrobamba, Chalcobamba and Sulfobamba are each mined in separate open pits. Mining is by way of conventional truck and shovel operation. This method and selected mining equipment are appropriate for these deposits.

In the pit, the minimum mining width is 70m; the Selective Mining Unit (SMU) has been set at 20m x 20m x 15m.

Chalcobamba project, the next phase of development at Las Bambas, is located around 3km from the current processing plant. The Peru Ministry of Energy and Mines released the regulatory approval for the development of the Chalcobamba pit and associated infrastructure in March 2022. However, the development of Chalcobamba pit was delayed by the community disruption in 2022.

An extension of Chalcobamba pit in the southwest sector (CBSW) is included in the reserve, after the completion of various assessments and studies, including mine planning, geological confirmation and hydrogeological, geotechnical and metallurgical studies. It also forms part of the Las Bambas permitting plan.

The development of the next phase of Las Bambas, through the Chalcobamba deposit, will meaningfully
increase production to 380,000-400,000 tonnes per annum over the medium term.

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The metallurgical process is a conventional froth flotation concentrator and thickener to produce two separate Cu and Mo concentrates and is appropriate for the style of mineralization.

Metallurgical Copper concentration process comprises the following activities; Crushing, Grinding and Flotation, producing copper and molybdenum concentrates. Copper concentrates contain gold and silver as byproducts.

The ore is crushed and transported on a 5.5-kilometre overland conveyor to a conventional flotation plant where copper concentrate is produced, then to a molybdenum plant for further processing. Concentrate is then transported by truck and rail to the Port of Matarani in the Arequipa region, where it is shipped to customers worldwide.

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