South32 expands Sierra Gorda ore reserve by 61%
Global diversified miner South32 has expanded its ore reserve by 61% to 1.1-billion tonnes averaging 0.39% copper, 0.016% molybdenum and 0.06 g/t gold at a total copper equivalent grade of 0.46% at its 45%-owned Sierra Gorda copper mine, in Chile.
The update reflects enhanced orebody definition after South32 undertook infill drill programmes of about 85 000 m over 200 drill holes between 2023 and 2025.
The updated ore reserve extends the initial reserve life by about five years to 2045.
The project's mineral resource estimate is at 1.87-billion tonnes grading 0.37% total copper, 0.016% molybdenum and 0.06 g/t gold, for a total copper-equivalent grade of 0.44%.
South32 CEO Matt Daley says the update highlights the scale, quality and long-life orebody at Sierra Gorda, which he expects will be a significant source of copper for decades to come.
South32 recently garnered approval to proceed with a fourth grinding line project at Sierra Gorda, which will increase copper production by about 30% from 2031.
“With the current orebody remaining open at depth, the mine offers potential for further growth beyond today’s increase to ore reserve and reserve life.
“We continue to work with our joint venture partner to drive further growth and value at Sierra Gorda. This includes the Catabela Northeast exploration project, where exploration holes have intersected significant copper mineralisation, highlighting the potential for future mine life extension," Daley states.
