PERU – Xstrata Copper says it is prepared to spend US$5.2 billion on the Las Bambas copper project in southern Peru.
The project is under construction with commercial production planned for 2015. At the end of last year, 90% of the engineering and 80% of the procurement and contracts were completed. Sixty-five per cent of the projects capital cost had been committed covering mill equipment, bulk materials, the mining fleet, and EPCM services.
Las Bambas will produce 400,000 tonnes of copper annually for the first five years. The three planned open pits will provide ore for the mill for at least 20 years. Costs per pound are expected to be in the lowest quartile.
A presentation about Las Bambas is available at Xstrata.com. Enter "Las Bambas" in the search box on the home page.