Our asset
Three Valley Copper (MTV in Spanish) 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
Our strategy is two-fold. First, to execute the production growth that will come from our two main deposits, the Papomono Masivo and Don Gabriel deposits that will allow us to reach full utilization of the facilities in 2023, increase revenues and drive down unit costs. Second, to simultaneously explore the property, increasing the visibility of our potential and life of mine.
Our status
TVC is producing
- 4-stage crushing and agglomeration facility, with nameplate capacity of 7,000 tonnes per day of ore
- heap leach optimized to accommodate chloride media for salt leaching
- an optimized solvent extraction-electrowinning (SX-EW) plant with nameplate capacity of 18,500 tonnes per annum
- offtake agreement with Anglo American Marketing Limited
TVC is growing
- technical studies complete
- salt leach application implemented
- Don Gabriel open pit expansion underway
- Papomono Masivo underground development construction started with expected completion by end of 2021
- technical report issued
- supportive strategic partners in Anglo American Marketing Limited and Kimura Capital LLP
TVC to explore
- 46,000+ hectares of land
- 170,000 meters of diamond drilling
- less than 10% explored and currently being exploited
- > 100 copper occurrences mapped
- 70 artisanal exploitation points registered
- first exploration program in over 15 years initiated in Q2-2021
Our history
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, TVC purchased 70% of MTV for US$40 million and increased its ownership to 90% in 2021.
Our 2017 thesis was simple.
What resource is currently undervalued but has a long-run sustainable increasing trajectory?
Copper
What country has a deep-rooted history in Copper supported by strong and fair mining law practices?
Chile
What property is undervalued, in production and has exciting upside potential?
MTV
