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July 1, 2024

Mitsubishi Materials Corporation

First Copper Concentrate Production at Mantoverde Copper Mine in Chile

Production of copper concentrate has commenced at Mantoverde Copper Mine in Chile, where Mitsubishi Materials Corporation ("MMC") holds a 30% interest.
The mine initially began producing electrolytic copper in 1995 using leaching and the SX-EW method (*), and operations have been ongoing since then. The new development project is aimed at extracting deep sulfide ores, and major construction work, such as building a concentrator, has been completed, leading to the commencement of copper concentrate production. Facility ramp-up is currently in progress, with full-scale production expected in the second quarter of this fiscal year.
MMC has the right to offtake 30% of the copper production. The produced copper concentrate is anticipated to be clean with low impurities, ensuring a stable supply of copper resources over the long term until 2041.
(*) SX-EW: Solvent extraction and electrowinning - A hydrometallurgy process comprising solvent extraction and electrowinning

MMC Group established "For people, society and the earth, circulating resources for a sustainable future" as Our Commitment. We will promote the expansion of resource recycling and the enhancing the supply of high-performance materials and products to fulfill Our Commitment.

Overview of the Project Property HolderMMC (30%), Capstone Copper (70%)Location and TopographyAtacama Region III of Chile, approximately 50 km from the coastline at 880 m.a.s.l.
Desert area with extremely low rainfall, but with a seawater desalination facility in placeTotal Mineral Resources5.7 million tonnes of contained copperTotal Mineral Reserves2.1 million tonnes of contained copperMining MethodOpen pitCopper production1,700 kt over mine lifeInitial Mine Life2041 [Related release]

February 12, 2021
Notice related to the completion of the acquisition of a minority stake in the Mantoverde copper mine in Chile
URL: https://www.mmc.co.jp/corporate/en/news/2021/news20210212.html

Corporate Communications Dept.
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Mitsubishi Materials Corporation published this content on 01 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2024 07:02:08 UTC.