South32 Reports 61% Rise in Sierra Gorda Ore Reserves to 1.1 Billion Tonnes

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South32 (ASX:S32) reported a 61% increase in the ore reserve estimate for its Sierra Gorda copper mine in Chile to 1.1 billion tonnes averaging 0.39% total copper, 0.016% total molybdenum and 0.06 grams per tonne gold at a total copper equivalent grade of 0.46%, according to a Tuesday Australian bourse filing.

The company said the updated estimate extends the initial reserve life by about five years to 2045, with a mineral resource estimate of 1.87 billion tonnes averaging 0.37% total copper, 0.016% total molybdenum and 0.06 grams per tonne gold at a total copper equivalent grade of 0.44%.

South32 acquired a 45% interest in Sierra Gorda in February 2022 and has joint control alongside 55% joint venture partner KGHM Polska Miedź.

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