Home/Operations/Cobre Verde
OperatingFlagship100% owned
Cobre Verde
Sonora, MexicoOpen-pit copper mine
Our cornerstone operation is a long-life, low-cost open pit producing the bulk of Altamira’s copper, with a fully funded Phase II expansion now underway.
182 kt
Copper produced, 2025
18 yr
Reserve life to 2043
0.46%
Reserve copper grade
$1.65/lb
All-in sustaining cost (US$)
Overview & geology
A porphyry copper system at the heart of the Sonora belt.
Cobre Verde is a large, near-surface copper-porphyry deposit in central Sonora, mined as a conventional truck-and-shovel open pit. First ore was delivered in 2023, and the operation now feeds a 60-million-tonne-per-year concentrator producing copper concentrate with gold and molybdenum by-products.
Mineralisation is hosted in a Laramide-age quartz-monzonite intrusion, with a well-developed supergene enrichment blanket overlying primary sulphides. The deposit remains open at depth, and infill drilling continues to convert resources into reserves ahead of the mine plan.
A fully funded Phase II expansion will lift throughput and extend the production profile into the next decade.
Key facts
Location
Sonora, Mexico
Ownership
100% · Altamira
Mine type
Open pit
Commodity
Copper (Au, Mo)
Stage
Operating
First production
2023
Mine life
To 2043
Processing
60 Mtpa concentrator
Mine plan & operations
From bench to concentrate.
A conventional open-pit, truck-and-shovel operation feeding a single-line concentrator on site.
01
Drill & blast
Benches drilled and blasted on a 12 m pattern.
02
Load & haul
Electric shovels load a fleet of 220 t haul trucks.
03
Crush
Primary gyratory crushing to 150 mm, then conveyed.
04
Mill & float
SAG/ball milling and flotation to copper concentrate.
05
Concentrate & ship
Filtered, railed to Guaymas and shipped to smelters.
60 Mtpa
Concentrator throughput
91%
Copper recovery
1.8 : 1
Strip ratio (waste : ore)
220 t
Haul truck payload
Ramping to nameplate and beyond.
Copper in concentrate has grown every year since first production, with Phase II set to lift output further from 2027.
Reserves & resources
Cobre Verde estimate.
Mineral reserves and resources for Cobre Verde as at December 31, 2025, reported in accordance with NI 43-101.
| Category | Ore (Mt) | Cu (%) | Au (g/t) | Contained Cu (Mt) |
|---|---|---|---|---|
| Proven | 320 | 0.49 | 0.07 | 1.57 |
| Probable | 245 | 0.42 | 0.05 | 1.03 |
| Proven & probable reserves | 565 | 0.46 | 0.06 | 2.60 |
| Measured & indicated | 740 | 0.46 | 0.06 | 3.40 |
| Inferred | 280 | 0.43 | 0.05 | 1.20 |
Measured & indicated resources are inclusive of mineral reserves. Figures are rounded; totals may not sum. Cu = copper, Au = gold.
Phase II expansion
A clear path to growth.
Discovery to steady state, with the funded Phase II expansion extending the production profile into the 2040s.
2014
Discovery drilling
2019
Feasibility study
2021
Construction start
2023
First production
2025
Phase II sanctioned
2027
Phase II first ore
2028
Steady state
Gallery
On the ground at Cobre Verde.
Sustainability & community
Built with Sonora, for the long term.
Cobre Verde runs on renewable grid power, recycles most of its process water, and draws the large majority of its workforce from communities across Sonora.
92%
Workforce hired from Sonora
78%
Process water recycled
100%
Grid power from renewables
US$4.2M
Annual community investment
Technical reports & downloads
The detail, on the record.
Continue