Project Overview
The Antamina mine is one of the largest, lowest-cost copper mines in the world. The mine is located in the
Andes mountain range of Peru at an average elevation of 4,200 metres, and began producing in 2001. It is
operated by Compañía Minera Antamina S.A. (“CMA”), a company jointly owned by subsidiaries of Glencore plc
(33.75%), BHP Billiton Plc (33.75%), Teck Resources Limited (22.5%), and Mitsubishi Corporation (10%).
The mine is an open-pit, truck-and-shovel operation. The ore is crushed in-pit and conveyed through a 2.7
kilometre tunnel to the coarse ore stockpiles at the mill. The mill produces separate copper, zinc,
molybdenum and lead-bismuth concentrates, with silver predominantly contained within the copper
concentrates, as well as lead-bismuth concentrate. Concentrates are pumped via a 302-kilometre pipeline to
the Huarmey Port on the Pacific Coastline for shipment to smelters through port facilities which are wholly
owned and operated by CMA.
Antamina is a polymetallic (copper, zinc, lead, molybdenum, and silver) skarn deposit resulting from complex
multiple intrusive events. Copper mineralization occurs mainly as chalcopyrite and zinc mineralization
generally as sphalerite. Silver is normally associated in solid solution with chalcopyrite but is also
associated with galena, bismuth sulphosalts and tennantite. Potential sites for future tailings dams are
currently being investigated.
In addition, significant exploration potential exists both below the current pit design as well as regionally
given that CMA holds a total of 169 concessions covering over 700 square kilometres.
Stream Details
| Date of Contract |
03-Nov-15 |
| Term |
Life of Mine |
| Stream |
100% payable on Glencore’s 33.75% of total silver produced at
Antamina, reduced to 22.5% after receiving 140 Moz |
| Upfront Consideration |
$900M |
| Delivery Payment Per Ounce |
20% of spot |
| Cost Quartile |
First |
For more information on the Antamina mine, please visit: www.antamina.com (opens in new
tab)