Compania Minera Zaldivar

Company profile

Compania Minera Zaldivar company profile

Compania Minera Zaldivar owns and operates a copper mine in Chile. The Zaldívar Mine is an open-pit, heap-leach copper mine – located approximately 1,400 kilometres north of Santiago and 175 kilometres southeast of the port city of Antofagasta – which produces pure cathode copper. In 2014, the Zaldívar Mine produced 222 million pounds of copper, at cash costs ranging from US$1.79 to US$1.94 per pound, for income of US$224 million before taxes. As at December 31, 2014, the Zaldívar Mine contained 5.558 billion pounds of proven and probable copper reserves. This translates to an estimated 14-year mine life at current production levels, with further upside potential through exploration. Upon closing of the Acquisition, Barrick and Antofagasta will each have a 50 per cent shareholder interest in the Zaldívar Mine.