Las Cruces Project

Aerial view of the Las Cruces Project site

The Las Cruces Project dates back to 1990 when Riomin Exploraciones, S.A., a subsidiary of the Rio Tinto Group, applied for a mineral investigation permit to explore the area. Two years after the permit was granted in 1992, the Las Cruces orebody was discovered.

After conducting the necessary investigations and completing an initial pre-feasibility study in 1999, MK Gold Company (now MK Resources Company), a subsidiary of US-based Leucadia National Corporation, acquired the Las Cruces Project and changed the name of Riomin Exploraciones to Cobre Las Cruces, S.A. (CLC).

Inmet Mining Corporation is now the majority owner of the project after it acquired 70 percent from MK Resources in August 2005. The remaining 30 percent continues to be held by the Leucadia National Corporation.