The 5 continuation projects in Peru's mining portfolio
There are 46 mining projects being developed in Peru, including 10 brownfield ones requiring total investment of US$5.06bn.
The brownfield projects designed to maintain production levels, rather than expand output, are Yanacocha Sulfuros, Integración Coroccohuayco, Optimización Inmaculada, Chalcobamba phase I and Pampacancha.
The five projects involve investment of US$3.03bn.
1. YANACOCHA SULFUROS
The project is at the gold mine in Cajamarca region, once Latin America’s biggest, and which is operated by Minera Yanacocha, owned by US miner Newmont in a JV with Peru’s Buenaventura and Japan’s Sumitomo.
Estimated investment is US$2.1bn. Construction is due to begin this year and operations in 2024.
2. COROCCOHUAYCO
The open pit copper-gold project is in the hands of Minera Antapaccay and is located in Cusco region.
Estimated investment is US$590mn.
It is in the prefeasibility stage. Last year the company rejigged the project and a construction start date has not yet been released.
3. INMACULADA
US$136mn gold-silver project is being developed by Compañía Ares mining in Ayacucho region.
It is in the feasibility stage. Construction should start this year and operations in 2022. The company is in the environmental permitting process.
4. CHALCOBAMBA
This is a copper deposit in Apurímac region operated by Minera Las Bambas.
Estimated investment is US$130mn, construction is due to start this year and operations in 2022.
The project is in the prior consultation phase. Phase I involves mining the southern and central areas of the pit.
5. PAMPACANCHA
The open pit copper project in Cusco region is being developed by Hudbay Minerals. Investment is estimated at US$70mn.
The project is at the Constancia mine and is in the prior consultation stage. Operations should start in 2022.
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