Acquisition Date

2022 / May / 02

Terms

0.63% NSR*

Operator

Lumina Copper Chile

The Caserones copper mine is an open pit operation in the Atacama region of Chile, owned and operated by Minera Lumina Copper Chile, which is indirectly owned by JX Nippon Mining & Metals Corporation. Caserones is located in Region III of the Chilean Andes at the southern end of the Maricunga mineral belt and is some 115 km southeast of the city of Copiapó, which is the regional capital, and approximately 15 km west of the international border with Argentina.

The Caserones mine has over five years of operational history. In 2020, the Caserones mine produced 127,000 tonnes of copper and 2,453 tonnes of molybdenum. The mine benefits from a significant historical investment of $4.2 billion and wellestablished infrastructure and is expected to produce significant volumes of copper and molybdenum over the long term.

Agreement terms are subject to the closing of the Transactions as defined in the Company's press release dated May 2, 2022.

See press release for more details.

*Additional Terms

Cu > $1.25/ lb = 0.63% NSR
Cu < $1.25/ lb = varies

 

Caserones