Xstrata Copper / South America
Las Bambas
Xstrata Copper: World > South America
| Detail label | Value |
|---|---|
| Location | Peru, South America |
| Products | Exploration / Copper |
| Website | www.lasbambas.com.pe |
Description of Operation
The Las Bambas copper project is located in Peru’s Cotabambas and Grau Provinces. Since acquiring the project in August 2004, Xstrata Copper has drilled a total of 241,000 metres at Las Bambas.
Ongoing exploration work at Las Bambas has established an Indicated and Inferred Resource of 508 million tonnes at a grade of 1.14% copper using a 0.5% cut-off grade. Published in March 2007, the resource includes estimated average grades for molybdenum of 220 parts per million and for gold of 0.11 grams per tonne.
Of Xstrata’s payments to the Peruvian Government to secure the project, $45.5 million was allocated to a trust fund for the benefit of communities in Cotabambas and Grau Provinces. This will fund health, education, infrastructure and sustainable development programmes in the local area.
Brief History of the Operation
In August 2004, Xstrata Copper was granted a term of up to six years to complete exploration and feasibility work at Las Bambas, during which time Xstrata may exercise the option by committing to develop the mining concessions into a mining project.