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South32 raises Sierra Gorda copper ore reserve estimate by 61%
The update extends Sierra Gorda's reserve life by about five years to 2045 and points to potential production growth from a new grinding line project expected to add about 30% capacity from 2031.
South32 said it has increased its Sierra Gorda copper mine in Chile by 61% after updating its ore reserve and mineral resource estimate. The company said the changes follow improved orebody definition from infill drilling, including about 85,000 metres across 200 drillholes completed between 2023 and 2025.
As of July 31, 2026, South32 reported ore reserves of 1,100 million tonnes averaging 0.39% total copper, 0.016% total molybdenum, and 0.06 g/t gold, for a total copper equivalent grade of 0.46%. It also said the updated estimate extends reserve life by about five years to 2045, alongside an MRE of 1,870 million tonnes averaging 0.37% total copper, 0.016% total molybdenum, and 0.06 g/t gold.
South32 linked the longer-lived outlook to ongoing development at the mine, including a July approval to proceed with execution of the fourth grinding line project. The company expects the project to increase copper production by approximately 30% from 2031.
Sierra Gorda is an open pit mine in Chile's Antofagasta region, with copper concentrate transported by truck and rail to ports for export. South32 holds a 45% interest in the operation with KGHM Polska Miedź holding 55%, and the company said the plant is expected to create up to 200 construction jobs once operational.
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