La Candelaria is the largest of the iron oxide Cu-Au(-Zn-Ag) deposits in the Punta del Cobre belt, which also hosts the Punta del Cobre district, sensu strictu. The Punta del Cobre belt lies within an Early Cretaceous continental volcanic arc/marine back-arc basin terrane. The volcanic arc and marine carbonate back-arc sequences are intruded by Early Cretaceous granitoid plutons that form part of the Chilean Coastal Batholith. The deposits of the Punta del Cobre belt occur along the eastern margin of the batholith within (e.g., La Candelaria) or just outside the contact metamorphic aureole (e.g., the Punta del Cobre district). Andesitic volcanic and volcaniclastic host rocks are intensely altered by biotite-quartz-magnetite. This style of alteration extends much further to the east of the intrusive contact than the metamorphic mineral associations in the overlying rocks that are clearly zoned outboard. Local areas of intense calcic amphibole veining that overprints all rock types occur within the contact metamorphic aureole.