Copper production at Peru's Las Bambas mine increased in Q1.

On Thursday, April 24, Peru's Las Bambas copper mine reported one of its best quarterly performances in history for Q1, benefiting from higher ore grades and improved recovery rates. According to a report by MMG, the Chinese-controlled Las Bambas copper mine in the Apurímac region produced 95,728 mt of copper in Q1 this year, up from 56,025 mt in the same period last year. The ore grade increased to 0.88% in Q1, compared to 0.54% in Q1 2024, while the copper recovery rate rose from 86.2% to 88.1%. The Ferrobamba pit and the new Chalcobamba pit maintained stable operations, with Las Bambas processing 20.2 million mt of ore in Q1, the highest quarterly level on record. The company also stated that it currently has 155 units of trucks transporting copper concentrates, up from the previous 125 units, enabling faster exports and inventory reduction. Due to the optimization of the Chalcobamba pit, Las Bambas has been operating at full capacity since Q4 2024, which will be the company's mid-term focus. The production guidance for this year is 360,000-400,000 mt, but it is expected to be revised upward following the Q1 performance. MMG stated, "Following the strong operational performance in Q1 and annualized production trending toward the upper end of the range, the company is evaluating the possibility of raising the lower end of its production forecast. If social unrest in Peru does not cause significant disruptions, Las Bambas is expected to achieve the high end of the forecast range in 2025." Las Bambas produced 322,912 mt of copper last year. The mine has faced strong community opposition in the past, particularly along the routes used to transport concentrates.