A world-class, high-quality copper asset

In July 2014, CITIC Metal, along with MMG Limited and CNIC Corporation, acquired the Las Bambas copper mine in Peru from Glencore. CITIC Metal secured a 15% stake in the mine and the rights to distribute 26.25% of the copper concentrate produced.

Las Bambas, located in southern Peru, is one of the largest copper projects globally and a world-class, high-quality copper asset. The asset demonstrates strong competitive advantages in resource endowment and production costs. Current proven copper resources amount to about 10,000,000 tonnes, with associated molybdenum, silver, and gold mineralization and has strong potential for further exploration and resource expansion. In 2024, the successful commissioning and steady-state operation of the second pit, Chalcobamba, led to the discovery of an additional 2.5 million tonnes of copper and 130,000 tonnes of molybdenum resources at the deep Ferrobamba deposit, significantly boosting the mine’s long-term development prospects.