Centinela was formed during 2014 from the merger of the Esperanza and El Tesoro mines. Centinela is located in Chile's Antofagasta region, 1,350 km north of Santiago, in an important region with sulphide and oxide deposits.

It produces copper concentrate (containing gold and silver) through a milling and flotation process at Centinela Concentrates and copper cathodes using a solvent extraction electrowinning process ("SX-EW") at Centinela Cathodes.

Start of operation 2001
Remaining Mine Life 43 years
COPPER IN CONCENTRATE Tonnes (2014: 172,800)
(16.0)% 145,200
Copper Cathode Tonnes (2014: 93,800)
(19.1)% 75,900
Gold Ounces (2014: 204,400)
(20.5)% 162,500
Copper Production '000 tonnes
Net Cash Costs (2014: $1.63/lb)
13.5% $1.85/lb
Cash Costs – Copper Cathode (2013: $1.36/lb)
31.6% $1.79/lb
Operating Profit (2014: $464.4m)
(128.2)% ($131.0)
Net Cash Costs $/lb
Net Cash Costs $/lb
Gold Ounces
Copper Tonnes

Encuentro Oxides

The Encuentro Oxides deposit is within the Centinela Mining District. It is expected to produce an average of approximately 43,000 tonnes of copper cathode per year over an eight-year period, utilising the existing capacity at Centinela’s SX-EW plant. This will enable the plant to produce at full capacity of 100,000 tonnes per annum for a number of years once the project is complete, helping to offset a decline in production that would otherwise occur due to falling mined grades at Centinela’s existing oxide pits.

Centinela Second Concentrator

The second concentrator will be built some 7 km from Centinela’s current concentrator. It is expected to have an ore throughput capacity of approximately 90,000 tonnes per day, with annual production of approximately 140,000 tonnes of copper, 150,000 ounces of gold and 3,000 tonnes of molybdenum. It is currently planned that ore will first be sourced from the Esperanza Sur deposit and, once mining at Encuentro Oxides is completed, ore will also be sourced from Encuentro Sulphides.

Molybdenum Plant

This project will allow Centinela to produce 2,400 tonnes of molybdenum per year. The project is being delayed to preserve cash in 2016 and is now expected to be completed in 2017, and will lower Centinela’s unit net cash costs.