What is the story about?
What's Happening?
Antofagasta Minerals has commenced pre-stripping activities at the Encuentro Sulphides pit, marking a significant step in its copper growth strategy. The first blast has been executed, initiating the process of removing overburden to access the sulphide ore. This ore will feed the Centinela Second Concentrator, which is under construction, enhancing the delivery of high-grade material alongside the existing Esperanza South pit. The development of the $1 billion Encuentro Sulphides pit was approved in July 2025, with stripping activities expected to conclude by 2028. The deposit contains an estimated 738 million tonnes of ore at an average grade of 0.45% copper, along with gold and molybdenum by-products. The project aims to increase annual production by an average of 170,000 tonnes of copper-equivalent over the first decade of operation.
Why It's Important?
The initiation of pre-stripping at the Encuentro Sulphides pit is crucial for Antofagasta Minerals as it seeks to expand its copper production capacity by 30% in the medium term. This expansion is expected to significantly boost the company's output, contributing to the economic development of the Antofagasta Region. The project will also create jobs and business opportunities for local suppliers, enhancing the region's economic landscape. Additionally, the use of modern technologies, such as high-pressure grinding rolls and autonomous equipment, underscores Antofagasta's commitment to innovation and efficiency in mining operations.
What's Next?
As the pre-stripping phase progresses, Antofagasta Minerals plans to move 186 million tonnes of material over approximately two years. The company aims to introduce autonomous equipment progressively, with autonomous operations expected to begin in January 2026. The completion of the Centinela Second Concentrator will nearly double the concentrator capacity, allowing the Centinela District to process around 200,000 tonnes of ore daily and achieve an average annual production of over 300,000 tonnes of copper once fully operational.
Beyond the Headlines
Antofagasta Minerals' focus on innovation, such as the use of thickened tailings technology and efficient raw seawater utilization, positions it as a leader in sustainable mining practices. The company's commitment to renewable energy and autonomous operations reflects broader industry trends towards sustainability and technological advancement, potentially setting new standards for mining operations globally.
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