Chinalco Mining Corporation International (“CMC”) is a resource development company acting as Chinalco’s core platform for the future acquisition, investment, development and operation of non-ferrous and non-aluminum mineral resources and projects overseas. Our controlling shareholder, Chinalco, is a Fortune Global 500 company since 2008, and a leading metals and mining conglomerate based in China. Our strong growth potential is driven significantly by Chinalco’s active global expansion strategy, which is in line with China’s initiatives in securing mineral resources overseas to satisfy its growing demand.
Currently, we are focusing on developing the Toromocho Project located in central Peru in the core of the Morococha mining district. According to CRU, the Toromocho Project is the world’s second largest pre-production copper project, as measured by proved and probable copper ore reserves, and the third largest pre-production copper project, as measured by average planned annual production between 2012 and 2020, among the top 20 firm copper mining projects scheduled to commence production of copper concentrate from 2012 to 2016. According to the Competent Person’s Report, the proved and probable JORC-compliant reserves of the Toromocho Project deposit are estimated to contain approximately 7.3 million tonnes of copper, 290,000 tonnes of molybdenum and 10,500 tonnes of silver. The commissioning of the Toromocho Project commenced on 10 December 2013 and is expected to reach full production capacity in the third quarter of 2014.Upon commencement of commercial production, we plan to process the copper sulphide ore on-site and sell copper concentrates primarily to China for smelting and production of refined copper.