Pampa Camarones

Our company operates the only copper mining project in the Arica region, where funds managed by Minería Activa control a 97% of the property.


  • The Salamanqueja and Chacota mines consist of high-grade copper veins that are mined using sub-level stoping underground mining method.
  • Ore is processed at our own SX-EW plant, which is adjacent to the Salamanqueja mine and has a nominal capacity of 11,000 tonnes of copper cathodes per year.
  • The operation is developed with the highest ESG standards, receiving energy from a solar plant and water through SIAM.
  • More than 80% of the workforce resides in Arica.

LOM and Resources

  • The company produces 7,800 tons of copper cathodes per year and has a life of mine of 7 years.
  • NI 43-101 resources of 4.3 MT @ 2.1%
  • Work is underway on the 2022 resource update.

Solidfinancial position

  • 2021 EBITDA of US$35mm.
  • Cash cost (C1) of US$1.95/lb places it in the 1st quartile of costs, being competitive with large-scale mining.

Growth potential

  • Pampa Camarones is located in a district that has been historically under-explored.
  • Management has identified over 10 targets in the vicinity of the operation.
  • The potential of the district would allow for production to be raised to 25,000 tonnes of copper cathode per year.

Ciclón – Exploradora

High-grade polymetallic (Cu, Zn, Pb, Ag, and Au) project located southeast of the Antofagasta region (3,100 meters above sea level).

Feasibility completed

The project is in the feasibility stage, which was completed in July 2021 with attractive economic results.
·       NPV: US$210mm
·       IRR: 29%
·       LOM: 16 years


  • Over 40,000 meters of DDH (diamond drill hole) drilling have been carried out.
  • The project has NI 43-101 resources of 10.1 MT @ 2.98% CuEq.

Multiple development alternatives

  • The project has significant exploration upside that could double the existing resources.
  • There are multiple options for its development.
  • This allows to benefit from exposure to different commodities.


  • Development of underground mining with minimal environmental impact.
  • The project is located in an area without population and without communities.
  • The EIA (Environmental Impact Assessment) to be submitted soon will include the use of wastewater in its production process.


Indiana is a high-grade gold-copper vein deposit located in the coastal mountain range in the Atacama Region and 40 kilometers north of Copiapó.


  • 13,000-meter DDH (diamond drill hole) drilling campaign completed.
  • NI 43-101 inferred resources of 607,000 oz @ 6.1 g/t of Au.
  • Potential resources of 300,000 oz @ 8 g/t of Au.

Great access

  • Easy access to water and energy due to the presence of nearby high-voltage line and aqueduct.
  • No communities nearby since the project is located in an exclusive mining district.

Low-scale operation

  • The project has all the necessary developments, access and permits to implement a small-scale mining operation.
  • The possibility of direct sales to ENAMI (Matta Plant) is being considered.

Exploration potential

  • Over a dozen veins have been identified with a total of 15 Km of strike length.
  • Possibility to duplicate existing resources.


Imán is an iron-magnetite deposit, differentiated by its low level of impurities and with significant exploration upside. The project is located in the iron belt of the coastal mountain range in Chile, 10 kilometers south of Vallenar and 40 kilometers from the coast.


  • A 2013 resource estimate determined an optimal cut-off grade of 17%.
  • 743 Mt of inferred resources with an average grade of 28.57%.

Great access

  • The project is located very close to an existing port with idle capacity.
  • Indiana has access to railway facilities.

Attractive economic results

  • PEA completed in 2013 by NCL Ingeniería y Construcción Ltd.
  • Excellent economic results both for the Open Pit and Underground alternative.
  • In 2017, Minería Activa updated PEA for the Underground alternative:
    – NPV: US$855mm
    – IRR: 20,2%
    – LOM: 22 years

Exploration upside

  • Management has a plan to develop the project in stages.
  • Looking to achieve 2 Bt in Resources.
  • Significant presence of scandium also offers opportunity in underdeveloped market.