South32, the diversified miner producing copper, aluminium, zinc and other minerals across the Americas, Australia and Southern Africa, updated its Ore Reserve and Mineral Resource estimates for the Sierra Gorda copper mine.
The Ore Reserve estimate rose 61% to 1,100 million tonnes, averaging 0.39% total copper, following an infill drilling programme of roughly 85,000 metres across 200 drillholes completed between 2023 and 2025.
The update extends the mine's reserve life by approximately five years to 2045, with the Mineral Resource estimate now standing at 1,870 million tonnes.
Chief executive Matt Daley said the update "highlights the scale, quality and long-life orebody at Sierra Gorda, which we expect will be a significant source of copper for decades to come."
The revision follows July's approval to proceed with a fourth grinding line project at the mine, expected to lift copper production by approximately 30% from 2031, taking throughput capacity from 135,000 tonnes per day to 165,000 tonnes per day.
Daley noted the orebody remains open at depth, pointing to further growth potential beyond the current increase.
South32 is also progressing exploration at the nearby Catabela Northeast project with its joint venture partner, where drilling has intersected significant copper mineralisation that could support a future extension of mine life.
Total payable production from 2026 to 2045 is estimated at 3,548kt of copper, 982koz of gold and 93kt of molybdenum.
News Intelligence what this means for the company
South32 extended Sierra Gorda's mine life to 2045 by raising its ore reserve estimate 61% to 1,100 million tonnes following an 85,000-metre infill drilling programme. The reserve extension of approximately five years, combined with the fourth grinding line expansion approved in July expected to lift copper production by approximately 30% from 2031, positions the operation as a long-life, growing copper asset during a period when the company is also advancing exploration at the nearby Catabela Northeast project.
The reserve upgrade materially extends Sierra Gorda's productive life and supports the capital investment in the fourth grinding line, reducing execution risk on the 30% production uplift. The orebody remaining open at depth and exploration success at Catabela Northeast suggest further upside beyond current estimates, though both remain subject to drilling and feasibility outcomes.
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