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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Las Bambas Project
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Here are a few more numbers for a comparison between the projects:


 Las Bambas Schaft Creek
Production Date 2015 2021
Capital Cost $5.9B $3.3B
Capital Intensity $13,000 / t $24,400 / t
Mine Life 18 years 22 years
Copper Reserves 17.7 B lbs 7.1B lbs
Copper Resource 15.9 B lbs 4.9B lbs
Elevation 3700m 900m


No, you can't count the value of the copper AND the value of the other metals. The other metals are what is keeping the operating costs at Schaft Creek in line with other projects. You can't count them as extra.

The only correction that I would make to the numbers is that $3.3B has been spent already at Las Bambas so a $6B buyout is essentially a $2.7B buyout.

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