South32 Provides Sierra Gorda Update


One of Chile’s largest copper mines is considering expansion plans. (Photo: Sierra Gorda SCM)
South32 published a JORC-compliant ore reserve estimate for the Sierra Gorda mine in Chile for the first time. The deposit has 782 million metric tons (mt), averaging 0.38% total copper, 0.02% molybdenum and 0.06 grams per mt gold, at a total copper equivalent grade of 0.44%. The updated mineral resource estimate reflects the first-time reporting of a 51 million mt sulphide stockpile averaging 0.28% total copper, 0.013% total molybdenum and 0.05 g/mt gold, at a total copper equivalent grade of 0.32%.

The company said first-time ore reserve represents an initial reserve life of 16 years, with significant growth potential expected to be unlocked as infill drilling programs further test the mineral resource, which remains open at depth.

Alongside its joint venture partner (KGHM), South32 said it continues to invest to grow future copper production from Sierra Gorda, executing the capital efficient plant de-bottlenecking project and progressing the feasibility study for the fourth grinding line expansion to support an expected final investment decision in H1 FY25. The fourth grinding line has the potential to increase plant throughput by approximately 20% to 58 million mt/y.

Separately, an exploration drilling campaign is underway at the Catabela Northeast copper porphyry prospect, located approximately 3 km from Sierra Gorda’s current operations. The company also said they were studying options to unlock value from oxide material that is stockpiled at surface.

As featured in Womp 2024 Vol 09 - www.womp-int.com