Mantoverde was first mined in 1906 by the Societé des Mines et Usines de Cuivre, which focused on high-grade near-surface ores, and was subsequently owned by several other mining companies, with only a small-scale development and extraction program executed during their ownership. Material progress in the development of the Mantoverde mine began only with the acquisition of Mantoverde by Anglo American in 1988. Construction of the mine and state-of-the-art SX-EW plant began in 1993 and commercial production began in 1995.
Mantos Blancos has been in operation for over 60 years, with the Mantos Blancos Mining Company, which was formed in 1955, commencing open-pit operations in 1960. An oxide ore treatment plant was opened in 1961, followed by underground mine development in 1974, with the intention of exploiting sulfide ore. Anglo American acquired a 40% stake in Mantos Blancos in 1980 from the Hochschild Group, and substantially overhauled the operations during its period of ownership, including: starting the sulfide concentrator in 1981; opening and integrating the Santa Barbara pit in 1984; expanding the concentrator to 4.1 million tonnes per year by 1993; closing the old oxide ore treatment plant smelter in 1995; starting SX-EW high-grade cathode production from the treatment of oxide ores in 1995; and concluding underground mine extraction in 1996. Anglo American acquired a 99.99% interest in Mantos Blancos in 2000.
Mantos Copper acquired Mantoverde and Mantos Blancos from Anglo American plc in 2015. Prior to our acquisition, Anglo American managed both mines in accordance with best-in-class construction, operating and ESG standards.