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%). Minera Las Bambas S.A. is a non-wholly owned subsidiary of MMG and the owner of the Las Bambas mine.
| Contractor | Contract | Description | Ref. Date | Source |
|
Peru national energy grid
|
Power supply
|
High voltage (220kV) electrical power is sourced from the national grid from the Cotaruse substation to Las Bambas, with two redundant power lines with a capacity of 185MW each.
|
Jun 30, 2024
|
|
|
unawarded or unknown
|
Drilling & Blasting
|
Contracts were finalised for blasting and drilling services.
|
Jun 30, 2023
|
|
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.
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.
Ferrobamba Deeps is a vertical extension of Ferrobamba downwards (same XY dimensions), with similar geological features, extending until level 2200RL; the lowest level of the Resource open pit-shell is 3200RL.
Reserves at June 30, 2024
Las Bambas Ore Reserves cut-off grades:
Ferrobamba Primary Copper - NSR cut-off 12.42 USD/t;
Chalcobamba Primary Copper - NSR cut-off 12.44 USD/t;
Sulfobamba Primary Copper - NSR cut-off 14.12 USD/t.
Las Bambas Mineral Resources cut-off grades:
Ferrobamba Oxide Copper and Chalcobamba Oxide Copper - 1% Cu Cut-off grade contained within a US$4.9/lb pit shell;
Ferrobamba Primary Copper - NSR cut-off 12.42US$/t;
Chalcobamba Primary Copper - NSR cut-off 12.44US$/t;
Sulfobamba Primary Copper - NSR cut-off 14.12US$/t.
Mineral Resources are reported inclusive of Mineral Reserves.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Proven & Probable
|
760 Mt
|
Copper
|
0.6 %
|
4,600 kt
|
|
Proven & Probable
|
760 Mt
|
Molybdenum
|
160 ppm
|
120 kt
|
|
Proven & Probable
|
760 Mt
|
Gold
|
0.03 g/t
|
0.83 M oz
|
|
Proven & Probable
|
760 Mt
|
Silver
|
2.7 g/t
|
66 M oz
|
|
Total Resource
|
1,900 Mt
|
Copper
|
0.49 %
|
9,400 kt
|
|
Total Resource
|
1,900 Mt
|
Molybdenum
|
170 ppm
|
320 kt
|
|
Total Resource
|
1,900 Mt
|
Gold
|
0.02 g/t
|
1.5 M oz
|
|
Total Resource
|
1,900 Mt
|
Silver
|
2.2 g/t
|
140 M oz
|
Summary:
Mining of the Las Bambas deposits is undertaken by open pit method, which is expected to continue throughout the life of mine.
Underground options are under evaluation to extend the Life of Mine, through the inclusion of Ferrobamba Deeps resources in 2024, supported by an economically positive Scoping Study which has been executed by Redco Global Peru S.A.C., at the beginning of 2024, under the supervision of Las Bambas key people of the Strategic Planning team.
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.
The Chalcobamba development, located approximately three kilometres from the existing processing plant at Las Bambas, is crucial to an annual production increase to a range of 350,000 to 400,000 tonnes. The mine began early work with community companies at the Chalcobamba pit in early February 2024, and the plant has received a stable supply of ore from the Chalcobamba pit since the second half of 2024.
Heavy Mobile Equipment
| HME Type | Model | Quantity | Ref. Date | Source |
|
Drill
|
Atlas Copco
|
2
|
Apr 30, 2017
|
|
|
Drill
|
Caterpillar
|
2
|
Apr 30, 2017
|
|
|
Drill
|
P&H
|
4
|
Apr 30, 2017
|
|
|
Loader
|
LeTourneau L2350
|
|
Apr 30, 2017
|
|
|
Shovel
|
P&H 4100
|
2
|
Apr 30, 2017
|
|
|
Shovel
|
Caterpillar 7495
|
2
|
Apr 30, 2017
|
|
|
Shovel
|
Caterpillar 6060
|
3
|
Apr 30, 2017
|
|
|
Truck (haul)
|
|
24
|
May 20, 2025
|
|
|
Truck (haul)
|
Caterpillar 797
|
6
|
Apr 30, 2017
|
|
|
Truck (haul) - EV
|
Komatsu 930E
|
44
|
Apr 30, 2017
|
|
EV - Electric
Comminution
Crushers and Mills
| Type | Model | Size | Power | Quantity |
|
Ball mill
|
|
|
|
3
|
Summary:
Las Bambas’ third ball mill was successfully commissioned during the fourth quarter of 2022.
Processing
- Crush & Screen plant
- Flotation
- Dewatering
Summary:
Metallurgical copper concentration process comprises the following activities: crushing, grinding and flotation, producing copper and molybdenum concentrates. Copper concentrates contain gold and silver as by-products.
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 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Copper
|
Recovery Rate, %
| 86.7 | 86.2 | 85.3 | 86.9 | 87 | 88.1 | 86.2 | 84.3 | 77.1 |
|
Copper
|
Head Grade, %
| 0.72 | 0.66 | 0.67 | 0.69 | 0.79 | 0.84 | 0.9 | 1.05 | 0.93 |
|
Copper
|
Concentrate Grade, %
| 28.5 | 34.4 | 33.8 | 33.6 | 34.8 | 38.5 | 37.9 | 38.1 | 36 |
|
Molybdenum
|
Concentrate Grade, %
| 45.9 | 46.5 | 48 | 47.6 | 47.5 | 47 | 48.9 | 49.2 | |
|
Molybdenum
|
Recovery Rate, %
| | | | | | | 79.5 | 80.1 | |
Summary:
Las Bambas authorised use of water runoff from the Chalhuahuacho River. Water recycling and re-use within the mine eliminates negative impacts with any discharge meeting relevant Peruvian environmental standards.
Water supply is sufficient for site and processing, sourced from the following: rainfall and runoff into Chuspiri dam, groundwater wells, contact waters, recirculating water in the process plant, pump station from Challhuahuacho River off-take structure.
Commodity Production
Copper and Molybdenum numbers are reported as production. Silver and Gold numbers are reported as sales.
| Commodity | Product | Units | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Copper
|
Metal in concentrate
|
t
| 360,000-400,000 ^ | 322,912 | 302,033 | 254,836 | 290,097 | 311,020 | 382,518 | 385,299 | 453,749 | 330,227 |
|
Copper
|
Concentrate
|
kt
| | 1,134 | 878 | 754 | 863 | 893 | 994 | 1,018 | 1,192 | 926 |
|
Molybdenum
|
Metal in concentrate
|
t
| | 3,108 | 3,810 | 3,532 | 4,985 | 3,167 | 1,783 | 1,961 | 1,431 | |
|
Molybdenum
|
Concentrate
|
kt
| | 6.8 | 8.2 | 7.4 | 10 | 6.7 | 3.8 | 4 | 2.9 | |
|
Gold
|
Payable metal
|
oz
| | 56,170 | 94,925 | 62,901 | 59,673 | 72,860 | 91,439 | 107,850 | 129,724 | |
|
Silver
|
Payable metal
|
oz
| | 3,534,990 | 5,361,326 | 3,293,364 | 3,581,185 | 4,092,872 | 4,581,714 | 5,483,796 | 6,350,308 | |
Operational metrics
| Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Ore tonnes mined
| 63,819,945 t | 46,429,483 t | 43,178,984 t | 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
| 122,617,927 t | 122,908,814 t | 116,206,593 t | 135,003,377 t | 137,484,467 t | 128,286,976 t | 115,709,415 t | | |
|
Tonnes milled
| 51,586,909 t | 52,871,670 t | 44,043,203 t | 48,476,799 t | 45,184,395 t | 51,283,371 t | 49,443,867 t | 51,497,642 t | 46,502,808 t |
Production Costs
| | Commodity | Units | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|
C1 cash costs
|
Copper
|
USD
|
1.6 / lb ^ **
|
1.51 / lb **
|
1.6 / lb **
|
1.53 / lb **
|
1.02 / lb **
|
1 / lb **
|
0.99 / lb **
|
1.18 / lb **
|
0.99 / lb **
|
^ Guidance / Forecast.
** Net of By-Product.
Mine Financials
| | Units | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|
Capital expenditures (planned)
|
M USD
| 575 | | | | | |
|
|
|
|
Revenue
|
M USD
| | 2,978 | 3,417 | 2,087 | 2,965 | 2,079 |
2,013
|
2,579
|
2,937
|
|
After-tax Income
|
M USD
| | 527.6 | 301 | 189.5 | 675.6 | 187.5 |
93.6
|
|
|
|
EBIT
|
M USD
| | 832.1 | 596.7 | 456.2 | 1,315 | 500.8 |
540.7
|
699.7
|
1,151
|
|
EBITDA
|
M USD
| | 1,594 | 1,397 | 1,122 | 2,047 | 1,196 |
1,237
|
1,341
|
1,741
|
Personnel
| Job Title | Name | Profile | Ref. Date |
|
Operations Superintendent
|
Abdon Guillen Medina
|
|
May 20, 2025
|
|
Operations Superintendent
|
Derly Sandy Vizcarra Arias
|
|
May 20, 2025
|
|
Plant Manager
|
Edgar Canta
|
|
May 20, 2025
|
|
Project Superintendent
|
Henry Rondon
|
|
May 20, 2025
|
| Employees | Contractors | Total Workforce | Year |
|
2,696
|
7,939
|
10,635
|
2024
|
|
2,578
|
5,695
|
8,273
|
2023
|
|
2,623
|
4,798
|
7,421
|
2022
|
|
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
|