South32 boosts Sierra Gorda ore reserve estimate by 61%
2026-08-25 11:02:08 [Print]
South32 announced on Tuesday an updated ore reserve and mineral resource estimate (MRE) for the Sierra Gorda copper mine in Chile.
The company stated that the updates reflect improved orebody definition resulting from successful infill drilling campaigns, with approximately 85,000 metres of drilling completed from 200 drillholes between 2023 and 2025.
The revised estimates, effective July 31, 2026, show a 61% increase in the ore reserve estimate to 1.1 billion tonnes, grading 0.39% total copper, 0.016% total molybdenum, and 0.06 g/t gold, with a total copper equivalent grade of 0.46%.
The update also extends the initial reserve life by approximately five years, pushing it out to 2045. Meanwhile, the mineral resource estimate stands at 1.87 billion tonnes, grading 0.37% total copper, 0.016% total molybdenum, and 0.06 g/t gold, with a copper equivalent grade of 0.44%.
Sierra Gorda is a large, conventional open-pit copper mine situated in Chile's northern Antofagasta region, equipped with modern processing facilities. Copper concentrate produced at the site is transported by truck and rail to the ports of Antofagasta and Angamos for international export to end markets.
South32 acquired a 45% interest in Sierra Gorda in February 2022 and holds joint control alongside its 55% joint venture partner, KGHM Polska Miedz.
The company stated that the updates reflect improved orebody definition resulting from successful infill drilling campaigns, with approximately 85,000 metres of drilling completed from 200 drillholes between 2023 and 2025.
The revised estimates, effective July 31, 2026, show a 61% increase in the ore reserve estimate to 1.1 billion tonnes, grading 0.39% total copper, 0.016% total molybdenum, and 0.06 g/t gold, with a total copper equivalent grade of 0.46%.
The update also extends the initial reserve life by approximately five years, pushing it out to 2045. Meanwhile, the mineral resource estimate stands at 1.87 billion tonnes, grading 0.37% total copper, 0.016% total molybdenum, and 0.06 g/t gold, with a copper equivalent grade of 0.44%.
Sierra Gorda is a large, conventional open-pit copper mine situated in Chile's northern Antofagasta region, equipped with modern processing facilities. Copper concentrate produced at the site is transported by truck and rail to the ports of Antofagasta and Angamos for international export to end markets.
South32 acquired a 45% interest in Sierra Gorda in February 2022 and holds joint control alongside its 55% joint venture partner, KGHM Polska Miedz.
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