MTV is located in the prolific Cretaceous belt of Chile that hosts a large amount of deposits, ranging from small to world-class. We produce Electrolytic Copper Cathodes (Grade A) of 99.999% purity - the highest quality cathodes on the market - through the mining of our own deposits and the purchasing of third-party ore.
Our strategy is two-fold. First, to execute the production growth outlined in our Technical Report to reach full utilization of the facilities, increase revenues and drive down unit costs. Second, to simultaneously explore the property, increasing the visibility of our potential and life of mine.
Our history begins with the purchase of MTV in 2017. MTV’s history begins with Vale S.A.
Vale began exploring in 2005 discovering the MTV deposits of Papomono and Don Gabriel. 97% of Vale’s exploration drill holes were drilled in or around these two main orebodies, and since then, only 2% of MTV’s drilling program has been dedicated to future exploration of its 46,000 hectares.
With a Vale-funded construction and infrastructure build-out approaching US$250MM, operations began in 2011, sold to a private family business in 2013 and operations curtailed. In October 2017, SRHI purchased 70% of MTV for US$40 million.