Overview
Stage | Production |
Mine Type | Open Pit |
Commodities |
- Copper
- Molybdenum
- Gold
- Silver
|
Mining Method |
|
Processing |
|
On-Site Camp |
yes |
Mine Life | 20 years (as of Jan 1, 2020) |
Source:
p. 22
Company | Interest | Ownership |
CITIC Metal Co. Ltd
|
15 %
|
Indirect
|
Guoxin International Investment Co. Ltd
|
22.5 %
|
Indirect
|
MMG Ltd.
(operator)
|
62.5 %
|
Indirect
|
Minera Las Bambas S.A.C.
|
100 %
|
Direct
|
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.31
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.36, 45
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.
Source:
p.46
Source:
p.46
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.
Recoveries & Grades:
Commodity | Parameter | 2019 | 2018 | 2017 | 2016 |
Copper
|
Head Grade, %
| 0.84 | 0.9 | 1.05 | 0.93 |
Copper
|
Recovery Rate, %
| 88.1 | 86.2 | 84.3 | 77.1 |
Copper
|
Concentrate Grade, %
| 38.5 | 37.9 | 38.1 | 36 |
Molybdenum
|
Concentrate Grade, %
| 47 | 48.9 | 49.2 | |
Molybdenum
|
Recovery Rate, %
| | 79.5 | 80.1 | |
Production:
Commodity | Product | Units | 2020 | 2019 | 2018 | 2017 | 2016 |
Copper
|
Metal in concentrate
|
t
| 360,000 ^ | 382,518 | 385,299 | 453,749 | 330,227 |
Copper
|
Concentrate
|
kt
| | 994 | 1,018 | 1,192 | 926 |
Molybdenum
|
Metal in concentrate
|
t
| | 1,783 | 1,961 | 1,431 | |
Molybdenum
|
Concentrate
|
kt
| | 3.8 | 4 | 2.9 | |
Gold
|
Payable metal
|
oz
| | 91,439 | 107,850 | 129,724 | |
Silver
|
Payable metal
|
oz
| | 4,581,714 | 5,483,796 | 6,350,308 | |
Operational Metrics:
Metrics | 2019 | 2018 | 2017 | 2016 |
Ore tonnes mined
| 51,653,616 t | 57,439,971 t | 52,873,113 t | 46,910,080 t |
Waste
| 128,286,976 t | 115,709,415 t | | |
Tonnes milled
| 51,283,371 t | 49,443,867 t | 51,497,642 t | 46,502,808 t |
Reserves at June 30, 2019:
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven & Probable
|
1,056 Mt
|
Copper
|
|
6,560 kt
|
Proven & Probable
|
1,056 Mt
|
Molybdenum
|
|
191 kt
|
Proven & Probable
|
1,056 Mt
|
Gold
|
|
1.6 M oz
|
Proven & Probable
|
1,056 Mt
|
Silver
|
|
94 M oz
|
Total Resource
|
1,844 Mt
|
Copper
|
0.58 %
|
10,613 kt
|
Total Resource
|
1,844 Mt
|
Molybdenum
|
|
286 kt
|
Total Resource
|
1,844 Mt
|
Gold
|
|
2.2 M oz
|
Total Resource
|
1,844 Mt
|
Silver
|
|
148 M oz
|
Commodity Production Costs:
| Commodity | Units | 2020 | 2019 | 2018 | 2017 | 2016 |
C1 cash costs
|
Copper
|
USD
|
1.05 / lb ^†
|
0.99 / lb†
|
1.18 / lb†
|
0.99 / lb†
|
1.02 / lb†
|
^ Guidance / Forecast.
† Net of By-Product.
Financials:
| Units | 2019 | 2018 | 2017 | 2016 |
Revenue
|
M USD
| 2,013 | 2,579 | 2,937 |
1,224
|
EBIT
|
M USD
| 540.7 | 699.7 | 1,151 |
405.2
|
EBITDA
|
M USD
| 1,237 | 1,341 | 1,741 |
655
|
Mine Management:
Job Title | Name | Profile | Ref. Date |
General Manager
|
Edgardo Orderique
|
|
Jun 20, 2020
|
Maintenance Manager
|
Manuel Valverde
|
|
Jun 20, 2020
|
Maintenance Superintendent
|
Henry Rondon
|
|
Jun 20, 2020
|
Mine Operations Superintendent
|
Abdon Guillen Medina
|
|
Jun 20, 2020
|
Plant Operations Superintendent
|
Eric Ruiz
|
|
Jun 20, 2020
|
Staff:
Employees | Contractors | Total Workforce | Year |
|
|
8,000
|
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: