Grades and production benchmark

We should look at a benchmark of producing mines in Chile. Costa Fuego grades are broadly comparable with the significant advantage that low altitude brings. What Costa Fuego needs is more tonnage / longer mine life and La Verde could bring that.

Here is a detailed overview of ore grades and 2023copper production volumes for several of Chile’s top copper mines:

Chile’sLeading Copper Mines – Grades & 2023 Production

	Mine	Ore Grade	2023 Production	Operator	Notes
1	Escondida	~0.52%	Not specified	BHP, Rio Tinto	World’s largest copper mine
2	Collahuasi	0.66%	Not specified	Anglo American, Glencore	One of Chile’s largest mines; specific production data not publicly available.
3	Los Pelambres	0.65%	300,300 tonnes	Antofagasta Minerals	Production increased by 2% in 2023 due to improved water availability.
4	Radomiro Tomic	Not specified	315,000 tonnes	Codelco	Accounted for nearly a quarter of Codelco’s annual production in 2023.
5	Los Bronces	0.32%	215,500 tonnes	Anglo American	Production decreased by 20% in 2023 due to lower grades and throughput.
6	Mantoverde	0.5%	35,401 tonnes	Capstone Copper	Undergoing development to increase production.
7	Mantos Blancos	1.0%	38,002 tonnes	Capstone Copper	One of the higher-grade deposits among Chile’s major mines.

Note: Productionfigures are based on the most recent publicly available data. Some mines mayhave experienced changes in production volumes due to operational challenges,labor disputes, or development projects.