Producing

Caserones

Cu
Mo
Lundin Mining Corporation
Atacama

,

Chile

Acquisition:

2022 / 08 / 15

Agreement:

Royalty

Terms:

Cu > $1.25/lb = 0.63% NSR;
Cu < $1.25/lb = varies

The Caserones copper mine is an open pit mining operation in the Atacama region of Chile, owned and operated by Minera Lumina Copper Chile, which is indirectly owned by Lundin Mining Corporation (51%) and JX Nippon Mining & Metals Corporation (49%). Caserones is located in Region III of the Chilean Andes at the southern end of the Maricunga mineral belt and is some 115 km southeast of the city of Copiapó, which is the regional capital, and approximately 15 km west of the international border with Argentina.

The Caserones mine has more than five years of operational history. In the first half of 2023, Caserones produced 69.7 kt of copper and 2.4 kt of molybdenum on a 100% basis. The mine benefits from a significant historical investment of $4.2 billion and well-established infrastructure and is expected to produce significant volumes of copper and molybdenum over the long term.

As of July 2023, the Proven & Probable Mineral Reserves (100% basis) are estimated at 850 Mt grading 0.30% CuT and 0.01% Mo containing 2,554 kt CuT and 76 kt Mo (cut-off grades based on block values). The Measured & Indicated Resources (100% basis) are 1,023 Mt grading 0.31% CuT and 0.01% Mo containing 3,150 kt CuT and 105 kt Mo (open pit cut-off grade 0.13% Cu). Mineral Resources are reported inclusive of Mineral Reserves.

Recent Activity

    November 2023

    A 10,000 m drilling program, one of the largest undertaken at Caserones, is expected to be completed in the first half of 2024. In addition, Caserones has received the Copper Mark at its operations, a designation that highlights its commitment to sustainable mining practices.

    July 2023

    Lundin Mining completes the acquisition of a 51% interest in the Caserones mine.

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 250 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 2023 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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