2004
Xstrata Copper acquired the right to explore Las Bambas through an international competitive bidding process.
Las Bambas is one of the largest copper mines in Peru.
It is located in the Challhuahuacho, Tambobamba and Coyllurqui districts
(Cotabambas Province), and the Progreso district
(Grau Province), in the Apurimac region.
About Las Bambas
The Las Bambas site is located in the Challhuahuacho, Tambobamba and Coyllurqui districts (Cotabambas province), and the Progreso district (Grau province) in the Apurimac Region. The site is approximately 75 km southwest of the Cusco city and its altitude varies between 3,800 and 4,600 meters above sea level.
Our Milestones
2008
The exploration stage (306,908 accumulated drilled metres) was completed.
2009
The feasibility study was completed.
2010
The Environmental Impact Study (EIS) public hearing was held in Challhuahuacho.
Xstrata-Glencore signed a contract with the government to transfer the Las Bambas mining concessions titles (4.2 billion USD investment).
2011
The government approved the EIS after an extensive citizen participation process.
Xstrata-Glencore announced a 10% increase in the Las Bambas mineral resources, equivalent to 1.71 billion tonnes at 0.6% copper grade.
2012
The engineering of roads and main components were completed for the start of the operation.
The Las Bambas - Espinar access road improvement works initiated.
Over 60% of investment was allocated to construction.
2013
Glencore became the owner of Las Bambas after Xstrata acquired the exploration rights.
65% progress was made on the pioneering roads, 40% on the concentrator plant, and 95% on the Las Bambas – Espinar access road improvement.
2014
EIS amendment was submitted for road transportation of copper concentrate.
Las Bambas mining project was acquired by the joint venture MMG Limited, Guoxin International Investment Co. Ltd. and CITIC Metal Co. Ltd.
The physical resettlement of the Fuerabamba community initiated.
2015
The first copper concentrate production was released as part of the commissioning activities.
The commissioning stages and gradual production ramp-up were implemented to reach full production capacity.
2016
The first copper concentrate batch was shipped.
The commercial production initiated.
2017
The first full year of commercial production was achieved.
Las Bambas production reached over 450,000 tons of copper concentrate.
The third EIS amendment was submitted.
2018
The third EIS amendment was approved.
The exploration studies in the west side of the concession initiated.
2019
The "Dialogue space and commitment fulfillment for the development of the Cotabambas province and the Grau district in the Apurimac region" was established.
2020
The stage 2 project initiated.
The fourth EIS amendment was submitted.
Operations continued despite of COVID-19 with zero shutdowns.
2021
The social and environmental baseline for the fourth EIS amendment was prepared (80% progress).
First Income Tax payment.
2022
First mining revenues (canon) were granted to the Apurimac region.
A fifty-seven-day invasion to Las Bambas property restrained production.