Las Bambas Copper Mine in Peru Produces 310,500 Tonnes of Copper in First Nine Months

en.Wedoany.com Reported - On October 23, the Las Bambas copper mine in Peru, operated by MMG under China Minmetals, reported cumulative production of 310,500 tonnes of copper metal from January to September 2026, with full-year output expected to reach 400,000 tonnes. In the third quarter, copper-in-concentrate production was 100,289 tonnes, down 3% year on year, while ore processing volume reached 14.3 million tonnes, the second-highest quarterly level in the mine's history. The company also lowered its full-year C1 cash cost guidance and plans to commission a new molybdenum flotation column in the fourth quarter.

In the third quarter, the copper grade of ore processed at Las Bambas was 0.80%, down from 0.86% in the same period of 2025; copper processing recovery fell from 90.4% to 88.6%. The grade decline was related to the established mining sequence, while the recovery change was affected by factors including a higher degree of ore oxidation and increased magnesium and calcium content. A higher proportion of ore supplied from the Chalcobamba pit helped the processing plant maintain high throughput, partially offsetting the production impact of lower head grade and recovery.

By-product output showed mixed changes. Third-quarter molybdenum production reached 1,098 tonnes, up 61% year on year, mainly due to improved molybdenum recovery. The mine plans to commission a new molybdenum flotation column in the fourth quarter to continue adjusting the molybdenum processing recovery circuit. Gold production in the same period was 17,513 ounces, down 11% year on year; silver production reached 1.49 million ounces, up 7% year on year. The changes in gold and silver output were related to the higher proportion of ore supplied from the Chalcobamba pit and differences in precious metal grades across mining zones.

Mineral product transport remained generally stable in the third quarter, with saleable copper metal sales of 108,546 tonnes, higher than quarterly production, as the mine completed deliveries by reducing inventory and scheduling shipments as planned. In the first nine months of 2026, the C1 cash cost at Las Bambas was US$0.68 per pound, below the previous full-year forecast range of US$0.85 to US$1.05 per pound. Higher by-product credit revenue and lower copper concentrate treatment charges were the main factors behind the cost improvement. MMG has lowered its full-year C1 cash cost guidance to US$0.80 to US$1.00 per pound.

In the fourth quarter, the mine will increase stripping operations at the Ferrobamba pit and carry out preparation work for subsequent mining areas. Full-year copper metal production is expected to be close to the upper end of the original target range of 380,000 to 400,000 tonnes.