We are aware of the article published by Bloomberg over the weekend regarding the presence of illegal mining activities within our concessions in the region that will host the third phase of Las Bambas in Sulfobamba.
Mining at Sulfobamba is not due to start for another decade (currently expected to commence in the mid-2030s) and our focus is on advancing active dialogue with all stakeholders to ensure that the future Sulfobamba pit can be operated sustainably and in a way that benefits host communities. This issue does not affect our guidance and the mine is set to drive strong production in the range of 360,00-400,000 tonnes in 2025.
While we are unable to confirm the estimates stated in the article we continue to actively share our concerns with the Government of Peru regarding the significant increase of illegal mining activity across the country which is an issue that not only affects Las Bambas but also many industry peer companies.
The area that hosts Las Bambas has significant mineral endowment and MMG has only explored 10 to 15 per cent of our holdings. To that end, we are focused on delivering an active exploration program to identify new targets within our existing mining concession.