Overview
| Stage | Production |
| Mine Type | Open Pit |
| Commodities |
- Copper
- Molybdenum
- Gold
- Silver
|
| Mining Method |
|
| Processing |
|
| On-Site Camp |
yes |
| Production Start | 2016 |
| Mine Life | 18 years (as of Jan 1, 2021) |
Las Bambas is third largest copper mine in Peru.
Due to safety concerns, Las Bambas will be unable to continue copper production as of 20 April 2022 (Peru time). MMG remains committed to working closely with the Government of Peru and the community members to deliver its commitments and to engage in transparent and constructive dialogue with the aim of reaching an enduring agreement.
MMG welcomes the agreement by the communities to cease protest activities and to participate in a Government-led dialogue process for a planned 30-day period commencing on 15 June.
Production at site and concentrate transport is expected to recommence on 11 June 2022 (Peru time). |
| Latest News | MMG to invest $2 bln at its troubled Peruvian Las Bambas mine September 27, 2022 |
Source:
p. 23
| Company | Interest | Ownership |
|
CITIC Metal Co. Ltd
|
15 %
|
Indirect
|
|
Guoxin International Investment Co. Ltd
|
22.5 %
|
Indirect
|
|
MMG Ltd.
(operator)
|
62.5 %
|
Indirect
|
Las Bambas is a joint venture project between the operator MMG (62.5%), a wholly owned subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15.0%).
Source:
p.33-34
Summary:
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.
Source:
p.37, 46, 50
Summary:
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.
Source:
Summary:
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.
Recoveries & Grades:
| Commodity | Parameter | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Copper
|
Recovery Rate, %
| 86.9 | 87 | 88.1 | 86.2 | 84.3 | 77.1 |
|
Copper
|
Head Grade, %
| 0.69 | 0.79 | 0.84 | 0.9 | 1.05 | 0.93 |
|
Copper
|
Concentrate Grade, %
| 33.6 | 34.8 | 38.5 | 37.9 | 38.1 | 36 |
|
Molybdenum
|
Concentrate Grade, %
| 47.6 | 47.5 | 47 | 48.9 | 49.2 | |
|
Molybdenum
|
Recovery Rate, %
| | | | 79.5 | 80.1 | |
Production:
| Commodity | Product | Units | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Copper
|
Metal in concentrate
|
t
| 300,000-320,000 ^ | 290,097 | 311,020 | 382,518 | 385,299 | 453,749 | 330,227 |
|
Copper
|
Concentrate
|
kt
| | 863 | 893 | 994 | 1,018 | 1,192 | 926 |
|
Molybdenum
|
Metal in concentrate
|
t
| | 4,985 | 3,167 | 1,783 | 1,961 | 1,431 | |
|
Molybdenum
|
Concentrate
|
kt
| | 10 | 6.7 | 3.8 | 4 | 2.9 | |
|
Gold
|
Payable metal
|
oz
| | 59,673 | 72,860 | 91,439 | 107,850 | 129,724 | |
|
Silver
|
Payable metal
|
oz
| | 3,581,185 | 4,092,872 | 4,581,714 | 5,483,796 | 6,350,308 | |
Operational Metrics:
| Metrics | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Ore tonnes mined
| 59,878,802 t | 57,999,845 t | 51,653,616 t | 57,439,971 t | 52,873,113 t | 46,910,080 t |
|
Waste
| 135,003,377 t | 137,484,467 t | 128,286,976 t | 115,709,415 t | | |
|
Tonnes milled
| 48,476,799 t | 45,184,395 t | 51,283,371 t | 49,443,867 t | 51,497,642 t | 46,502,808 t |
Reserves at June 30, 2021:
The Mineral Reserves are reported above a range of cut-offs based on material type and ore body. Ferrobamba Primary Copper - 0.20% to 0.24% Cu cut-off grade based on rock type and recovery; Chalcobamba Primary Copper - 0.22% to 0.29% Cu cut-off grade based on rock type and recovery; Sulfobamba Primary Copper - 0.24% to 0.29% Cu cut-off grade based on rock type and recovery.
The Mineral Resources are reported above a range of cut-offs based on material type and ore body. 1% Cu Cut-off grade contained within a US$3.68/lb pit shell for oxide material. Ferrobamba Primary Copper - Average 0.18% Cu Cut-off grade contained within a US$3.68/lb pit shell for primary material; Chalcobamba Primary Copper - Average 0.20% Cu Cut-off grade contained within a US$3.68/lb pit shell for primary material; Sulfobamba Primary Copper - Average 0.21% Cu Cut-off grade contained within a US$3.68/lb pit shell for primary materia.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Proven & Probable
|
820 Mt
|
Copper
|
0.67 %
|
5,500 kt
|
|
Proven & Probable
|
820 Mt
|
Molybdenum
|
180 ppm
|
150 kt
|
|
Proven & Probable
|
820 Mt
|
Gold
|
0.05 g/t
|
1.2 M oz
|
|
Proven & Probable
|
820 Mt
|
Silver
|
3 g/t
|
78 M oz
|
|
Total Resource
|
1,300 Mt
|
Copper
|
0.65 %
|
8,500 kt
|
|
Total Resource
|
1,300 Mt
|
Molybdenum
|
176 ppm
|
230 kt
|
|
Total Resource
|
1,300 Mt
|
Gold
|
0.04 g/t
|
1.8 M oz
|
|
Total Resource
|
1,300 Mt
|
Silver
|
3.11 g/t
|
130 M oz
|
Commodity Production Costs:
| | Commodity | Units | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
C1 cash costs
|
Copper
|
USD
|
1.35 / lb ^†
|
1.02 / lb†
|
1 / lb†
|
0.99 / lb†
|
1.18 / lb†
|
0.99 / lb†
|
1.02 / lb†
|
^ Guidance / Forecast.
† Net of By-Product.
Financials:
| | Units | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Revenue
|
M USD
| 2,965 | 2,079 | 2,013 | 2,579 |
2,937
|
1,224
|
|
EBIT
|
M USD
| 1,315 | 500.8 | 540.7 | 699.7 |
1,151
|
405.2
|
|
EBITDA
|
M USD
| 2,047 | 1,196 | 1,237 | 1,341 |
1,741
|
655
|
Heavy Mobile Equipment as of April 30, 2017:
Source:
p.24
| HME Type | Model | Quantity |
|
Drill
|
Atlas Copco
|
2
|
|
Drill
|
Caterpillar
|
2
|
|
Drill
|
P&H
|
4
|
|
Loader
|
LeTourneau L2350
|
|
|
Shovel
|
P&H 4100
|
2
|
|
Shovel
|
Caterpillar 7495
|
2
|
|
Shovel
|
Caterpillar 6060
|
3
|
|
Truck (haul)
|
Komatsu 930E
|
44
|
|
Truck (haul)
|
Caterpillar 797
|
6
|
Mine Management:
| Job Title | Name | Profile | Ref. Date |
|
Drilling & Blasting Superintendent
|
Derly Sandy Vizcarra Arias
|
|
Jun 9, 2022
|
|
General Manager
|
Edgardo Orderique
|
|
Jun 9, 2022
|
|
Maintenance Manager
|
Manuel Valverde
|
|
Jun 9, 2022
|
|
Maintenance Superintendent
|
Henry Rondon
|
|
Feb 15, 2022
|
|
Mine Operations Superintendent
|
Abdon Guillen Medina
|
|
Jun 9, 2022
|
|
Operational Readiness Manager
|
Eric Ruiz
|
|
Jun 9, 2022
|
|
Plant Manager
|
Edgar Canta
|
|
Jun 9, 2022
|
Staff:
| Employees | Contractors | Total Workforce | Year |
|
2,672
|
2,995
|
5,667
|
2021
|
|
2,205
|
4,164
|
6,369
|
2020
|
|
1,792
|
3,999
|
5,791
|
2019
|
|
1,900
|
6,800
|
8,700
|
2018
|
|
1,726
|
6,568
|
8,294
|
2017
|
|
|
|
9,134
|
2016
|
Corporate Filings & Presentations:
News:
| News | Date |
|
MMG to invest $2 bln at its troubled Peruvian Las Bambas mine
|
September 27, 2022
|
|
MMG Ltd.: Peru's Las Bambas copper mine revives after protest, but deal talks stall
|
July 8, 2022
|
|
MMG Limited: Las Bambas update
|
June 10, 2022
|
|
MMG Ltd.: Las Bambas update
|
April 19, 2022
|
|
Las Bambas Receives Approval For Chalcobamba Development
|
March 24, 2022
|
|
MMG Ltd.: Voluntary announcement Las Bambas update
|
February 7, 2022
|
|
MMG's Las Bambas mine to restart copper output after Peru deal
|
December 30, 2021
|
|
MMG Ltd.: Las Bambas update
|
December 16, 2021
|
|
MMG Limited: Voluntary announcement Las Bambas update
|
December 3, 2021
|