MENU GLOBAL SITES SECTION MENU BUSINESS MODEL Home About Us Business Model ABOUT US Mining is a long-term business and timescales can run into decades. The period from initial exploration to the start of production can exceed 10 years and, depending on the nature of the project and the market conditions, it may take more than five years of operation to recoup the initial investment. For geological reasons, copper deposits frequently have higher-grade material nearer the surface and therefore grade declines with depth. This means that unless action is taken, such as an expansion, copper production declines as a mine gets older. Also, as an open pit gets deeper, haulage distances and rock hardness increase, and this, combined with the declining grade, leads to higher unit costs. Large long-life mines will have several expansions during their lives. The current expansion at our 21-year-old Los Pelambres mine is its fourth. INPUTS EXPLORATION EVALUATION CONSTRUCTION EXTRACTION PROCESSING MARKETING MINE CLOSURE OUTPUTS INPUTS Energy Water Labour Service contracts and key supplies Fuel and lubricants Sulphuric acid Our mining operations depend on a range of key inputs such as energy, water, labour, sulphuric acid and fuel. The management of these inputs has a significant impact on operating costs and the sustainability of mining operations, and ensuring the long-term supply of key inputs is a vital part of the business. As part of our commitment to mitigating and adapting to climate change, all of our mining operations will use 100% renewable energy from 2022 and approximately 90% of mining division’s water will be either sea or recycled water by 2025. SITEMAP ABOUT US Our Purpose Our Strategy Business Model Our Approach Corporate Governance Leadership Team Our History OUR BUSINESS Mining Division Transport Division Growth Projects Exploration The Role of Copper SUSTAINABILITY At a Glance Sustainability Policy Responsible Supply Our People Safety and Health Communities Climate change Environment Biodiversity Sustainability Report Library INVESTORS Reports & Presentations Annual Report 2020 Annual Report Library Shareholder Information Fixed Income Investors Financial Calendar News IR Contact MEDIA News Articles COVID-19 Photo Gallery Video Library Media Contact STAY INFORMED Receive our news alerts and latest news and events. Email Alerts Twitter LinkedIn YouTube Disclaimer Accessibility Legal notice Privacy Statement Cookies notice Tu Voz - Whistleblowing Modern Slavery Statement Cookie Settings 2021 Antofagasta plc. By emperor OUR APPROACH Values and Principles Our Approach to Risk Relationships CORPORATE GOVERNANCE Framework & Structure Board Composition Board Committees Risk Management and Compliance Stakeholder Engagement Tax Strategy LEADERSHIP TEAM Board Senior Management Our History OUR BUSINESS Mining Division MINING DIVISION Los Pelambres Centinela Antucoya Zaldívar Mining Map Transport Division Growth Projects Exploration The Role of Copper Climate change Environment Biodiversity Sustainability Report Library ANNUAL REPORT 2020 Chairman's Statement CEO Statement KPIs SHAREHOLDER INFORMATION Share Information Shareholder Services Dividend Information AGM Information Advisors & Registrars Analyst Coverage FINANCIAL CALENDAR Preliminary Results Q1 2022 Production Report AGM Q2 2022 Production Report Half Year Results Q3 2022 Production Report Q4 2022 Production Report News NEWS Email Alerts IR Contact CAREERS Inclusive Culture Our use of cookies We use essential cookies to make our site work. We also set analytics cookies to help us improve it. We won't set other optional cookies unless you enable them. AcceptRejectSettings