Anglo American plc draws attention to the announcement made by Collahuasi, its 44% owned copper mine in Chile.
Anglo American plc draws attention to the announcement made by Collahuasi, its 44% owned copper mine in Chile. The translated text of that announcement is included below.
Compañía Minera Doña Inés de Collahuasi SCM announces a significant increase to its Mineral Resources and Ore Reserves following its 2012 resources estimation process.
The new Measured, Indicated and Inferred Resource has increased by 1.4 billion tonnes to over 9.0 billion tonnes at an average grade of 0.81% copper and 0.02% of molybdenum. This represents a 19% increase on the previous estimate published in December 2011. Total contained copper metal has increased by 23% to around 73 million tonnes.
Ore Reserves have increased by 10% compared to the previous year, up 292 million tonnes to a total of 3.2 billion tonnes at an average grade of 0.81% copper. This new estimate is the result of new drill results, geological modelling updates, mining design optimization and adjustments to metal price assumptions.
Collahuasi Chief Executive Officer, Jorge Gomez, said: “This impressive uplift in our mineral resource base at Collahuasi clearly indicates the significant potential for further expansion at Collahuasi. We continue to work on bringing increased stability to our processes through operational improvements to ensure we can capitalize on this world-class resource.”
Collahuasi’s Resources and Reserves* as of December 31, 2012
MINERAL RESOURCES:
OXIDES + MIXED |
MTON |
%TCu |
Copper Content
(Mton) |
MEASURED + INDICATED |
45 |
0.62 |
0.3 |
INFERRED |
11 |
0.56 |
0.1 |
TOTAL |
56 |
0.61 |
0.4 |
MINERAL RESOURCES:
SULPHIDES |
MTON |
%TCu |
%Mo |
Copper Content
(Mton) |
MEASURED + INDICATED |
4,570 |
0.83 |
0.02 |
38.0 |
INFERRED |
4,450 |
0.80 |
0.02 |
35.6 |
TOTAL |
9,020 |
0.81 |
0.02 |
73.0 |
ORE RESERVES: OXIDES
+ MIXED |
MTON |
%TCu |
Copper Content
(Mton) |
PROVED |
31 |
0.59 |
0.2 |
PROBABLE |
13 |
0.70 |
0.1 |
TOTAL |
44 |
0.62 |
0.3 |
ORE RESERVES:
SULPHIDES |
MTON |
%TCu |
%Mo |
Copper Content
(Mton) |
PROVED |
419 |
1.00 |
0.02 |
4.2 |
PROBABLE |
2,724 |
0.79 |
0.02 |
21.5 |
TOTAL |
3,143 |
0.81 |
0.02 |
25.7 |
Ore Reserves included in Mineral Resources
*Competent persons: Mr. Mario Quiñones V. and Mr. Luis Aedo S., who are full time Collahuasi employees, are responsible for the Quality of exploration data used as the basis for Collahuasi’s Resource estimates, of the geological interpretations that constrain the Resource estimates and the transformation of the Resources into Reserves. Both are Competent Persons under the meaning of the 2004 JORC Code. Numbers may not be exact as they have been rounded for tabulation.