The Antapaccay deposit is located 9 kilometres from Xstrata Copper’s Tintaya mine in southern Peru. The deposit consists of two adjacent mineral structures: Antapaccay North and Antapaccay South.

The Xstrata plc Board approved a $1.47 billion investment Antapaccay project in July 2010 following approval of the Environmental and Social Impact Assessment by the Peruvian Mining Ministry earlier that month.

The brownfield expansion to the Tintaya operation will produce an average of 160,000 tonnes of copper per annum for at least the first five years and 143,000 tonnes of copper per annum over the current estimated mine life of 22 years.

In December 2010, an improved Mineral Resource for Antapaccay was announced of 817 million tonnes at a grade of 0.51% copper.

On 22 March 2012, the Antapaccay Project commenced mining activities with the "first blast". Mining activities include pre-stripping and ore stockpiling in preparation for the mechanical completion and start-up of the concentrator plant and other facilities in the third quarter of this year.

Brief History of the Operation

Xstrata Copper acquired the Antapaccay copper-gold prospect through its acquisition of Tintaya in 2006. Skarn mineralization, located on the northwest margin of Antapaccay South, has been mined sporadically since the 1930's. The porphyry centres were discovered in late 1998.