Valle de Copiapo (Magnetite Plant) iron ore mine

The Magnetite Plant is a processing facility operated by CMP within the company’s Valle de Copiapó complex in Chile’s Atacama Region. It primarily produces iron ore concentrate from copper tailings sourced from the adjacent Candelaria copper mine and, to a lesser extent, from preconcentrate and tailings originating from CMP’s Los Colorados mine. Once produced, the concentrate is transported via a 120 km pipeline to CMP’s Punta Totoralillo Port. Although the operation avoids mining costs, its processing costs are higher than typical operations due to the extremely low Fe content in the tailings from both Candelaria and Los Colorados, resulting in low mass recovery rates. The plant is modelled separately because of its unique feedstock, processing flowsheet, and cost profile. While smaller in scale than CMP’s flagship assets, it maximises value from external tailings and plays a significant role in supporting the company’s sustainability goals.