The Las Bambas Mining Project comprises four stages: exploration of deposits and feasibility, construction, operation and closure.
Before drilling, we informed local communities about the project and established dialogue as a mechanism of interaction with community members. The project exploration stage began in March 2005 and, by the end of 2008, we will have completed pre-feasibility studies.
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First stage: Exploration of deposits and feasibility
The objective at this stage, which began in March 2005 and could last up to five years, is to verify the quantity and quality of resources in the area and then to conduct a feasibility study. . If necessary, this period may be extended for one additional year, as indicated in the contract.
We have built access roads and work platforms for drilling activities, which have allowed for the collection and analysis of samples. We also have set up temporary camps at a proper distance from the communities adjoining the project.
The project already has implemented a Social Responsibility Program with good sustainable development results in the area.
Second stage: Mine construction
If the results of exploration are satisfactory and we have a viable feasibility study, we will exercise the option and mining rights will transfer to Xstrata. After which, we will begin construction of the infrastructure for the mine’s operation, following the completion of the Environmental Impact Assessment and obtainment of all permits. This infrastructure work generally includes construction of a tailings dam, waste dump, pits, access roads, permanent camps, administrative offices and the installation of electrical, communications and sanitation services. We would require a minimum of two years to complete this stage.
Third stage: Mine operation
The operating stage refers to the mining, processing and sale of proven ore. As part of the social, economic and cultural impact, the mine's operation will generate opportunities for suppliers, increase local micro-business and drive significant increases in the region's fiscal income.
Fourth stage: Mine closure
From pre-feasibility, we will consider environmental and social closure standards for the mine and our operations. When closing the mine after concluding our operations, our company will respect both Peruvian law and international best practice standards, including environmental restoration. We will strive to promote and support sustainability projects developed by the communities, so they can continue to prosper after mining operations close, and we will improve the quality of living in the surroundings, focusing on health and nutrition.