Cerro Verde represents one of the largest copper reserves in Peru and in the world, having estimated reserves of 4.63 billion tonnes of ore grading 0.4% copper and 113.2 million oz of silver.

[1] In 2014, The Bank of Tokyo-Mitsubishi UFJ and other lenders gave a 5-year US$1.8 billion unsecured loan for a major expansion of Cerro Verde.

Cerro Verde will be able to produce approximately 1.0 billion pounds of copper and 23 million pounds of molybdenum per year, which would place the mine among the top five copper producers in the world.

Anaconda Copper owned the property from 1916 until 1970, when the mine was expropriated by the Peruvian government.

The government mined Cerro Verde’s oxide ores and built one of the world’s first SX/EW facilities in 1972.