Mantos Blancos (Ag)

Stream and Terms: Osisko, through its wholly-owned subsidiary Osisko Bermuda Limited, will purchase 100% of payable silver produced at Mantos Blancos until 19.3 Moz have been delivered, and 40% of payable silver thereafter for the remaining LOM. Osisko Bermuda’s purchase price for each ounce of silver delivered under the stream is equal to 8% of the monthly average silver price.
Operator: Visit Capstone Copper for more information
Primary Commodity: Copper
Location: Antofagasta, Chile
Reserves and Resources:
  • Proven and probable reserves of 20.9 Moz Ag (111.2 Mt @ 5.83 g/t Ag)
  • Measured and indicated resources (exclusive of reserves) of 13.6 Moz Ag (94.5 Mt @ 4.47 g/t Ag)
  • Inferred resources of 2.2 Moz Ag (20.0 Mt @ 3.35 g/t Ag)
  • 2020: 794 koz Ag
  • 2021: 726 koz Ag
  • 2022: 809 koz Ag


  • Ongoing ramp-up of Mantos Blancos Phase 1 steady-state operation (expanded throughput of 7.3 Mtpa)
  • Phase II expansion to 10.0 Mtpa using underutilized ball mill & processing capacity; Definitive Feasibility Study expected H2 2023
  • 2023 brownfield exploration is focused on resource to reserve conversion at Mantos Blancos

More details in the 2023 Asset Handbook


Source: Company disclosure and Osisko management estimates.