Producing

Antamina

Ag
Cu
Mo
Pb
Zn
Compañia Minera Antamina SA
Ancash

,

Peru

Acquisition Date

2022 / 07 / 12

Agreement:

Stream, Royalty

Stream Terms:

1.66% Ag

Ongoing Payment:

2.5% of spot

Royalty Terms:

0.55% NPI

Development Highlights

The mine is operated by Compañía Minera Antamina S.A., a top-tier operator jointly owned by major stakeholders Glencore plc (33.75%), BHP Billiton plc (33.75%), Teck Resources Limited (22.5%), and Mitsubishi Corporation (10%).

Antamina contains Mineral Resources that support a multi-decade mine life producing high-grade copper. In addition to copper, Antamina is also a significant zinc and silver producer.

Based on 2022 estimated production of top global copper mines, Antamina is the world’s third-largest copper mine on a copper equivalent (CuEq) basis, producing approximately 560,000 CuEq tonnes per annum. Antamina has been in consistent production since 2001, including a throughput expansion completed in 2012 to the mine’s current operating capacity of 145,000 tonnes per day. For 2025, annual production at Antamina is expected to be 335–400 kt of copper (100% basis).

In 2024, Antamina received approval for the Modification of Environmental Impact Assessment (MEIA) which allows for an investment of approximately $2 billion to extend operations at Antamina through to 2036. The MEIA allows Antamina to optimize mining activities within its current infrastructure while expanding the footprint of the open pit and improving tailings management facilities. It also contemplates an increase in processing capacity to up to 208,000 tonnes per day, which is an approximate 40% boost from current levels. Additional Mineral Resource conversion is expected as Antamina advances Pre-Feasibility level studies focused on long-term tailings solutions.

Recent Activity

February 2024

The Peruvian Government approved Compañia Minera Antamina SA’s MEIA (Modification of Environmental Impact Assessment). This extends Antamina’s mine life from 2028 to 2036 through a $2 billion, 8-year investment in mine optimization and expansion. It extends the permitted pit depth by 150 metres.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

Investor Presentation

Download the latest Investor Presentation to learn why Sandstorm is a gold investment that stands out from the rest.

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Asset Handbook

With over 230 royalties acquired since 2009, we offer an exciting investment opportunity in a diverse portfolio of royalty assets. Discover all of Sandstorm’s royalties around the globe.

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Annual Report

Our 2024 Annual Report includes our annual Financial Statements and Management Discussion & Analysis and a letter from Sandstorm’s President & CEO.

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Sustainability Report

Learn more about Sandstorm’s approach to sustainability including our due diligence process, mining partnerships, and employee engagement.

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