Home  | Contact us  |   繁體  |   简体
Projects Development
Project Toromocho
Operating Mines
M&A Growth
Sustainable Development
Home / Business Overview / Projects Development / Project Toromocho
Located in central Peru in the core of the Morococha mining district
Approximately 7.3 million tonnes of copper, 290,000 tonnes of molybdenum, and 10,500 tonnes of silver, according to the Competent Person’s Report
The Project is the world’s second largest pre-production copper project, as measured by proved and probable copper ore reserves, and the third largest pre-production copper project, as measured by average planned annual production between 2012 and 2020, among the top 20 firm copper mining projects scheduled to commence production of copper concentrate from 2012 to 2016, according to CRU
The Company expects to commence production during the fourth quarter of 2013 and reach full the production capacity in the third quarter of 2014
Since the completion of our acquisition of the Toromocho Project in May 2008, we have devoted substantial effort to developing the Toromocho Project into an advanced development stage and accomplished all the key milestones for pre-production mining projects
According to the Competent Person’s Report, the mining project is estimated to support:
- open pit mining operations supporting 117,200 tpd of ore (stripping ratio 0.79:1)
- conventional SAG mill/ball mill/flotation processing plant producing 1,838tpd of 26.5% copper concentrate
- a separate molybdenum hydrometallurgical plant producing 25.1tpd of chemical
grade molybdenum oxide which enjoys a price premium over technical grade MoO3
Based on the current estimated reserves and production plan, its mining project has an estimated mine life of 32 years and a projected operating life of 36 years
According to the Competent Person’s Report, the Toromocho Project is estimated to have low operating cash costs after credits of approximately US$1,508.8 per tonne (or approximately US$0.684 per pound) of copper produced as compared with a large number of copper mines across the globe. For example, the average operating cash costs of the major copper mines in Peru and Chile are approximately US$3,624.0 per tonne of copper produced and US$3,963.0 per tonne of copper produced, respectively
The Company also owns additional resources adjacent to the mining project, which may become accessible upon the completion of the highway relocation plan
Total capex required for the project is approx. US$3.5 billion

According to the Competent Person’s Report:

JORC Resources and Reserves
    Grade Metal Content  
JORC Ore Reserve Category
Proved 756 0.51 0.02 6.39 3.9 150,000 4,800
Probable 784 0.434 0.018 7.31 3.4 140,000 5,700
Total 1,540 0.471 0.019 6.86 7.3 290,000 10,500
JORC Measured and Indicated Mineral Resources Category
Measured 156 0.41 0.014 6.20 0.6 22,000 1,000 Available upon completion of highway diversion
Indicated 364 0.36 0.012 6.06 1.3 44,000 2,200
Total 520 0.37 0.013 6.10 1.9 66,000 3,200
JORC Inferred Mineral Resources Category (Note)
Inferred 174 0.460 0.015 11.54 0.8 26,000 2,000

Note: Measured, indicated and inferred mineral resources are not included in the economic analysis in the Competent Person’s Report.

About Us
> Introduction
> Chairman’s Statement
> Directors and Management Team
> Group Structure
> Competitive Strengths
> Development Strategy
Business Overview
> Projects Development
> Operating Mines
> M&A Growth
> Sustainable Development
Investor Relations
> Information Disclosure > Corporate Governance
> Financial Highlights > Investor Services
> Stock Price Information > Email Registration
> Corporate Presentation > Tax Information
Media Center
> Industry &
Company News
> Press Releases
> Recruitment
Contact Us
> Contact Us