Chinalco acquires Peru's Los Calatos copper-molybdenum project

Chinese state-owned miner Chinalco has completed the acquisition of Minera Hampton in a deal valued at over US$200 million, according to foreign media reports. Minera Hampton holds the Los Calatos copper-molybdenum project in Peru's Moquegua region, which is recognized as one of the country's most advanced greenfield copper projects and among the closest to advancing to the construction phase. The transaction has secured Phase I merger clearance from Peru's competition authority, INDECOPI.

According to the latest estimates, the project contains mineral resources of approximately 352 million tonnes, with a copper grade of 0.76% and a molybdenum grade of 318 ppm, classifying it as a large porphyry-type deposit.