South32 Share Price Soars on Sierra Gorda Mine Life Boost
The South32 Ltd (ASX: S32) share price is in focus after the company reported a significant increase in Sierra Gorda's ore reserve estimate. This boost extended the mine's reserve life to 2045, with an additional five years added to its lifespan.
South32 announced that the ore reserve at Sierra Gorda increased by 61% to 1,100 million tonnes at 0.39% total copper, 0.016% molybdenum, and 0.06 g/t gold (as at 31 July 2026). The mineral resource estimate rose 8% to 1,870 million tonnes at 0.37% total copper, 0.016% molybdenum, and 0.06 g/t gold.
South32's Chief Executive Officer, Matt Daley, said: 'This update highlights the scale, quality and long-life orebody at Sierra Gorda, which we expect will be a significant source of copper for decades to come.'