$832.5M
USD
Market cap · 2026–07 · week 29
🇨🇦 Canada, Vancouver
Country
Base Metals
Sector
Producer · Junior / Minor · Chile
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Overview:
Amerigo Resources Ltd. is a copper producer headquartered in Vancouver, British Columbia, Canada, operating primarily in Chile. The company's portfolio is centered on a single producing asset, the wholly owned Minera Valle Central (MVC) operation in Chile's O'Higgins Region. The business model is distinctive: rather than mining ore, MVC produces copper and molybdenum concentrates by reprocessing tailings generated by Codelco's El Teniente mine, the world's largest underground copper operation. MVC holds rights from Codelco to process the Fresh Tailings delivered through a 36-kilometre launder and to remove and process the historic Colihues and Cauquenes tailings impoundments, currently mining the Cauquenes deposit with hydraulic monitors. Processing capabilities consist of grinding and flotation circuits with a capacity of 185,000 tonnes per day, after which reprocessed tailings are returned to the El Teniente launder. The model gives the company copper-price-leveraged cash flow with lower geological and mining risk than conventional mining, since the resource is well-characterized historic tailings, but it depends on its long-term relationship with Codelco and on the volume and grade of fresh and historic tailings available. The principal model-linked risks are copper-price volatility, dependence on the Codelco tailings-supply and contractual arrangements, operational exposure to weather events affecting the Chilean operation, and the finite nature of the historic impoundments.
Strategy:
Strategic direction centers on maximizing copper and molybdenum recovery and cash flow from the El Teniente tailings while extending the operating life of MVC. A core operational focus is the continued mining and processing of the Cauquenes historic tailings impoundment alongside the steady stream of fresh rougher tailings from Codelco's concentrator, balancing throughput across the 185,000-tonne-per-day plant to optimize recoveries. The enterprise manages production performance against external factors such as plant availability and weather disruptions and maintains compliance with its approved Chilean mine-closure plan under Law 20.551. Capital allocation reflects the company's status as an established cash-flow-generating producer, with copper production of 62.2 million pounds in 2025 following 64.6 million pounds in 2024, and emphasis on sustaining operations and returning value to shareholders within the constraints of its tailings-resource base and its commercial arrangements with Codelco.
Management:
Executive leadership is headed by President and Chief Executive Officer Aurora Davidson, who previously served as the company's Chief Financial Officer and Executive Vice President. The board is led by Executive Chair and Director Klaus Zeitler, who has been associated with the company since 2003 and who has served as lead director and former chair of Rio2 Limited. The leadership team oversees the MVC operation in Chile and the company's relationship with Codelco's El Teniente division, which underpins the tailings-supply arrangements.
Sustainability:
MVC operates in material compliance with applicable Chilean environmental laws and regulations, with no known material environmental concerns at the site, and holds an approved mine-closure plan under Chilean Law 20.551, for which it has provided a financial guarantee in accordance with the approved schedule. The business model itself carries an inherent environmental dimension, recovering copper and molybdenum from previously deposited tailings and returning reprocessed material to the El Teniente tailings system rather than disturbing new ground.
Structure:
The company's principal operating subsidiary is Minera Valle Central, S.A. (MVC), wholly owned by Amerigo other than minority shares required by Chilean law, with the parent listed on the Toronto Stock Exchange under the symbol ARG. The defining structural relationship is with Corporacion Nacional del Cobre (Codelco): MVC holds contractual rights to process the Fresh Tailings generated at El Teniente, delivered via a 36-kilometre launder, and to remove and process the historic Colihues and Cauquenes tailings impoundments, with reprocessed material returned to the El Teniente launder and conveyed to the Caren impoundment. Amerigo acquired MVC in 2003, and the operation's resource base is supported by a NI 43-101 technical report prepared by Global Resource Engineering with an effective date of February 1, 2022.
Hedge:
Amerigo's results are directly tied to the London Metal Exchange copper price, to which the company has substantial exposure through MVC's copper concentrate sales, with molybdenum providing a by-product credit. The company manages this commodity-price exposure within its commercial arrangements and treasury practices rather than disclosing a standing portfolio of speculative derivatives in this filing, and it remains exposed to fluctuations in copper prices that materially affect its revenue and cash flow.
Source:
Amerigo Resources Ltd. - Annual Information Form - 2025
Operating · 1 project
Minera Valle Central (MVC)
Asset
Chile, O'Higgins Region (Region VI)
Mining
Type
Operating
Status
🇨🇱 Chile, O'Higgins Region (Region VI)
Country
Project information
As at 1 February 2022
Aggregation level:
Asset
Aggregation level:
Asset
Report standard:
Ni 43 101
Report standard:
Ni 43 101
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Processing Facility
Extraction:
Processing Facility
Ore type:
Sulphide
Ore type:
Sulphide
Processing route:
Grinding and flotation, or CIL
Processing route:
Grinding and flotation, or CIL
Facility kind:
-
Facility kind:
-
Licensed capacity:
185000
Licensed capacity:
185000
Capacity unit:
t
Capacity unit:
t
Capacity period:
Per Day
Capacity period:
Per Day
Capacity kind:
Nameplate
Capacity kind:
Nameplate
Description
As at 1 February 2022
Amerigo's wholly owned copper-molybdenum tailings reprocessing operation 8 km east of Rancagua in Chile's O'Higgins Region (Region VI), operating since 1992 and acquired by Amerigo in 2003. MVC produces copper and molybdenum concentrates by reprocessing tailings from Codelco's El Teniente porphyry copper-molybdenum mine: it has rights to process the Fresh Tailings (TEN) delivered via a 36-km launder and to remove and process the historic Colihues and Cauquenes (CQNS) tailings impoundments, currently mining Cauquenes with hydraulic monitors. The processing facility has a capacity of 185,000 tonnes per day across grinding and flotation circuits; reprocessed tailings are returned to the El Teniente launder and conveyed to the Caren impoundment. The Cauquenes deposit holds roughly 364 Mt of historic tailings at ~0.31% Cu (deposited 1936-1977) and Colihues ~216 Mt at ~0.26% Cu (1977-1986); a NI 43-101 technical report (GRE, effective February 1, 2022) classifies the impoundments' material as Inferred Mineral Resources, which are too speculative to be classified as reserves. MVC holds an approved Chilean mine-closure plan under Law 20.551.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 1 February 2022
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Base Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Base metals
- Cu % / Zn % are the grade norm for base metals; kg/t is for very high-grade deposits. Porphyry copper is typically 0.3–1% Cu; SEDEX zinc 5–15% Zn.
- C1 vs C2 vs C3 vs AISC. C1 is direct mining + processing + transport + by-product credits. C2 adds depreciation; C3 adds corporate/indirect costs. Compare like for like.
- TC/RCs (treatment & refining charges) are smelter payments per dry metric tonne of concentrate — a non-trivial part of base-metal economics, not shown on the Portfolio tab.
- Concentrate vs metal. Miners often sell concentrate (~25–30% Cu) and are paid for contained metal minus TC/RCs. Portfolio books contained metal on a 100% basis.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Copper
1 / 5
0–100 Mlb Cu
0–1000 Mlb Cu
0–0.5 % Cu
2 / 5
100–250 Mlb Cu
1000–4000 Mlb Cu
0.5–1 % Cu
3 / 5
250–500 Mlb Cu
4000–10000 Mlb Cu
1–1.5 % Cu
4 / 5
500–1000 Mlb Cu
10000–20000 Mlb Cu
1.5–2 % Cu
5 / 5
≥ 1000 Mlb Cu
≥ 20000 Mlb Cu
≥ 2 % Cu
Copper uses Mlb Cu bands because featured projects include lb-scale contained units on copper rows. Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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