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China pays whopping amount for las bambas copper mine
Las Bambas copper mine is a large project located in Apurímac, Peru. It is an open-pit mine located at altitude of about 4000 meters above sea level. It is a polymetallic mine which significant mineral resources and ore reserves of copper with an estimated mine life of at least 20 years. Production at the mine is scheduled to start in 2015 following an 80% confirmation completion of the project on 31 Dec 2014. The first production of concentrate out of the mine is expected to be in the first quarter of 2016.
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Minerals and Metals Group acquired Las Bambas copper project from Glencore Xstrata plc. for USD 5.85 billion. White & Case, advised the Consortium comprised by Minerals and Metals Group (62.5%), a wholly owned subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15.0%).
Golder Associates made the Environmental Impact Assessment (EIA) studies back on 2010, since then there have been two amendments to said studies one of them being carried by SNC-Lavalin on 2014, the amendment of EIA included updated project schedule, auxiliary components of the project and the respective water management system.
GyM S.A, the largest construction company in Peru and a subsidiary of the Graña y Montero company, in 2012 was in charge of constructing the copper concentration plant with a capacity of 140,000 t/day.
Las Bambas project besides copper concentrates will be also producing molybdenum concentrates, both concentrates will be transported on a bimodal way from Las Bambas mining operations to Puerto Matarani. First overland transport from Las Bambas to a transfer station located in Pillones follow by railways to Matarani Port. Geoservice Ingeniería is in charge of the preparation of Environmental Impact Assessment (EIA) so that Pillones transfer station can be expanded.
Las bambas copper mine top 9 facts
