Image of an illuminated open-pit mine with terraced slopes at night, surrounded by mountains.

Antamina

The Antamina mine is a large copper and zinc mine, located in the Andes mountain range of Peru.

About Antamina

The Antamina mine is a large copper and zinc mine, located in the Andes mountain range, 270 kilometres north of Lima, Peru. The deposit is located at an average elevation of 4,200 metres.

We have a 22.5% interest in the mine. Our partners are BHP plc (33.75%), Glencore plc (33.75%) and Mitsubishi Corporation (10%).

The mine is an open pit, truck/shovel operation. A 302 kilometre slurry concentrate pipeline transports copper and zinc concentrates to the port for shipment to smelters and refineries world-wide.

Antamina has entered into long-term copper and zinc concentrate off-take agreements with affiliates of the Antamina shareholders on market terms. We sell our share of Antamina’s copper and zinc concentrates to major smelting and refining companies.

Antamina Operating Results

Antamina1

($ in millions)

 2023 2022 2021

Revenue

$1,296

 $1,423 $1,383

Gross profit (loss)

 $657 $818 $828

Gross profit before depreciation and amortization2

 $899 $1,021 $992

Production (million tonnes)

 95 102 100

Sales (thousand tonnes)

 95 101 99
Notes:
1 We include 22.5% of production and sales from Antamina, representing our proportionate ownership interest in the operation.  
2 This is a non-GAAP financial measure or ratio. See "Use of Non-GAAP Financial Measures and Ratios" section of the Management's Discussion and Analysis for further information.