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Feb 15, 2017


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Peru Mining Industry – Largest Companies


Peru Mining Industry – Largest Companies

the 2017 Latin America Mining Mission May 10-23

Canadian Mining Suppliers™ is bringing 12 companies on a Latin America mining mission to visit Chile, Peru, Colombia, and Mexico to meet business partners and mining buyers. Join the Mining Mission


Company Description
MINERA CERRO Minera Cerro operates an open-pit copper and molybdenum mining complex located some 20 miles southwest of Arequipa, Peru. US-based Freeport-McMoRan Copper & Gold Inc. has a 53.6% stake in Cerro Verde, through its subsidiary Cyprus Climax Metals Co
MINERA LAS BAMBAS Minera Las Bambas will have initial production of 400,000t/y of copper concentrate. The mine will produce copper concentrates containing payable gold and silver, and will also produce separate molybdenum concentrate. The mine is expected to produce more than 2Mt of copper in concentrate in its first five years of operation.
MINERA ANTAPACCAY Minera Antapaccay S.A., a subsidiary of Glencore plc, operates the Antapaccay copper mine in Peru’s Cuzco region. The 150,000t/y mine extends the life of Glencore’s Tintaya installations, privatized in 1993, by another 20 years. Completed at the end of 2012, it reached installed capacity in 2013. The company is also developing Coroccohuayco, a property near the Tintaya operation that has reserves of 290Mt at 1.03% copper and could produce 100,000t/y. Antapaccay aims to start up the copper mine by 2018.
HUDBAY PERU Hudbay Perú S.A.C., the local subsidiary of Canadian miner Hudbay Minerals Inc., owns the Constancia copper porphyry project in Peru’s Cusco region, comprising 36 mining concessions and covering an area of 22,516ha. In 2011, Hudbay acquired Norsemont Mining Inc. and its wholly owned Constancia mine. Production began as scheduled during the fourth quarter of 2014. Commercial production remains on track for the second quarter of 2015.
CHINALCO PERU Minera Chinalco Perú S.A., the local branch of Chinese-owned Aluminum Corp. of China Ltd. (Chinalco), is developing the Toromocho copper project, located 142km east of Lima in Junín region. The plant will have a capacity of 117,000t/d, yielding 1Mt/y of concentrates over a 36 year life. Its reserves are estimated in 1.5Mt. Chinalco expects to start full commercial production in the first quarter of 2015.
SOUTHERN PERU COPPER CORPORATION Southern Peru Copper Corp. (SPCC) is the country’s largest producer of copper. Its operations are comprised of the open pit Toquepala and Cuajone mines, and the Ilo metallurgical complex. It also co-owns the Tantahuatay gold operation in Cajamarca region with local precious metals miner Buenaventura. SPCC’s exploration projects include the Los Chancas copper-molybdenum project in Apurímac region, and the Tía María copper project in Arequipa region. SPCC is a majority-owned, indirect subsidiary of Mexican conglomerate Grupo Mexico.
MINERO HORIZONTE Consorcio Minero Horizonte S.A. (CMHSA) is a group engaged in the exploration and production of gold in Peru by means of three operational units: Parcoy, Culebrillas and Untuca (part of the Cori Puno company). CMHSA also has operations in the energy sector through its energy company Aguas y Energía Perú S.A. with which it is developing hydroelectric plants Piás 1 and 2, as well as the Yuracyacu hydroelectric project. CMHSA is privately held by the Navarro-Grau family and was founded in 1978.
MINERA ANTAMINA Compañia Minera Antamina S.A. engages in the production of copper, zinc and molybdenum concentrates, and silver and lead by-products. In terms of volume of operations, the miner is one of the country’s leading copper and zinc concentrate producers and operates one of the world’s ten largest mines. Mining is done by conventional open-pit methods. Production and sales activities are carried out through the following operational units: a mine, a concentrator and auxiliary units, a tailings dam, a slurry pipeline and a port facility (Punta Lobitos). The company estimates a reserve base of around 550Mt. Minera Antamina is controlled by multinational resource group BHP Billiton Ltd. and Anglo-Swiss Glencore plc.
SHOUGANG HIERRO PERU Shougang Hierro Perú S.A.A., a subsidiary of Chinese steel group Shougang Corp., is Peru’s only iron ore producer. The Lima-based company operates the Marcona mine in Ica region, which is undergoing a US$1bn expansion to produce 10Mt/y by 2016. Shougang is one of the country’s largest investors in Peru’s mining sector, and has been working on its mine expansion since 2009. Despite a three week strike that ended in September, iron ore sales volumes rose 2% to 10.69Mt in 2014. Shougang Hierro’s proven and probable iron ore reserves total 2.09Bt
BUENAVENTURA Buenaventura S.A.A. is a Peruvian miner engaged in the exploration, mining, development and processing of gold, silver and other precious metals. The company, the country’s largest locally owned precious metals producer, operates several mines in Peru (Orcopampa, Uchucchacua, Poracota, Tantahuatay, La Zanja, Rio Seco, Julcani, Antapite and Mallay) and has controlling interest in mining companies Cedimin and El Brocal. Buenaventura, through a JV with Newmont Mining Corp., also owns 43.7% of Yanacocha, Latin America’s largest gold mine, and 19.6% of copper producer Cerro Verde. The company recently announced that it will start operations at its Chucapaca gold-copper project by 2018. Buenaventura was founded in 1953 and is headquartered in Lima, Peru.
MINERA YANACOCHA Minera Yanacocha S.R.L. (Yanacocha), the JV between US-based Newmont Mining and local mining company Buenaventura, is a Peruvian mining company incorporated in 1992, with mining operations in the Cajamarca district. Its flagship project is the Minas Congas gold-copper operation. Newmont suspended construction at Conga in 2011 due to violent protests over water use. Since then, Minera Yanacocha has been working on reservoir projects at the site to quadruple the local water supply. Conga is one of the biggest investment projects in Peru’s mining portfolio. Average output over the first five years has been estimated at 650,000-750,000oz/y of gold and 160M-210Mlb/y of copper. The company is considering developing the troubled project along with neighboring deposits, like Michiquillay or Galeno.
VOLCAN Volcan Compañía Minera S.A.A. is a Peruvian polymetallic miner engaged in the exploration and production of zinc, copper, gold, silver, and lead in the country’s Sierra Central region. The company is the world’s fourth largest producer of zinc and silver, as well as Peru’s largest producer of zinc and silver. Its main operations include the Alpamarca, Animón, Cerro de Pasco, Chungar, Vinchos and Yauli mining units. Volcan completed its silver oxides project and Alpamarca silver mine in 2014, part of a US$1bn expansion project. The projects will boost annual silver output to 24-24.3Moz, zinc production to 288,000-295,000t and lead to 58,000-62,000t. Volcán was founded in 1943 and is based in Lima, Peru.
EMPRESA MINERA LOS QUENUALES Minera Los Quenuales, a Peruvian subsidiary of Glencore International, owns and operates the Iscaycruz and Yauliyacu mines in the Central Highlands of Peru. The Iscaycruz operations, which comprise underground and open pit mines, produce zinc and lead concentrates. Yauliyacu, which consists of an underground mine and a concentrator plant, produces zinc and lead/silver concentrates. Minera Los Quenuales was founded in 1990 and is based in Lima, Peru.
MINERA PODEROSA Poderosa is a Peruvian precious metals miner which operates an underground gold mine and two production plants in northern Peru’s La Libertad region. The mine has been producing since 1982. Its high-grade narrow veins, including on Jimena, Glorita, Choloque and Atahualpa, are mined using conventional, mechanized underground methods. The ore is treated in the 200t/d Santa Maria or 600t/d Marañón mills followed by cyanide leaching and Merril Crowe processes. The company also owns the Victoria metal refinery and local company Sociedad Eléctrica Lavasen, formed to develop the Lavasen-Quishuar hydroelectric project, that aims to satisfy the firm’s energy needs. Minera Poderosa was founded in September 1980 and is based in Lima, Peru.
MILPO ANDINA Peruvian mining group Compañía Minera Milpo S.A.A. is engaged in the mining of copper, gold, silver, lead and zinc in Peru and Chile. The firm has three mining units in Peru: El Porvenir and Atacocha in Pasco region and Cerro Lindo in Ica region. Milpo also operates the Iván mine and refinery in northern Chile’s Antofagasta region (II). The company acquired a controlling stake in Peruvian miner Atacocha in late 2008. In 2011 Milpo completed the acquisition of Vancouver-based Inca Pacific Resources, which previously held the contract to develop the Magistral copper-molybdenum project in Ancash region. Its other projects include Pukaqaqa (copper-gold) and Hilárion (zinc). The Lima-based company plans to complete work by 2016 on the integration of its El Porvenir and Atacocha zinc-lead mines. Milpo was founded in 1949 and is controlled by Brazil’s Votorantim Metais-Cajamarquilla S.A.
MARCOBRE Marcobre, a subsidiary of Peruvian miner Minsur, offers copper mining services. The company is the owner of the Marcona copper property and Mina Justa red metal project in southern Peru. Its main asset, Mina Justa, has a JORC compliant resource of 413Mt grading 0.79%, and its expected start date is in 2013 with average production of 110,000t/y over a 10-year mine life. Marcobre was founded in 2004 and is based in San Juan de Miraflores, Peru.
MINERA MISKI MAYO Compañía Minera Miski Mayo S.R.L., a subsidiary of Brazilian mining giant Vale, explores and produces minerals such as potassium, kaolin and phosphate. The company owns the Bayóvar mine in Peru, an open-pit operation for extracting phosphate rock, which is mostly used in fertilizers. Miski Mayo is based in Lima, Peru.
MINERA RAURA Peruvian polymetallic miner Compañía Minera Raura S.A. is engaged in the exploration, development and production of non-ferrous minerals and minerals such as zinc, lead and copper concentrates. Founded in 1960, the company mines at the San Miguel de Cuari operation in Peru’s Huánuco region. Raura, which is controlled by the Breca Group, produced 24,006t zinc, 12,188t lead, 1,752t copper and 64,957kg silver in 2014.
MINERA ATACOCHA Peruvian polymetallic miner Compañía Minera Atacocha S.A.A. is engaged in the mining, extraction, refining and sale of mineral resources, including lead, copper, zinc, silver, and gold. It operates the Atacocha and Santa Bárbara mining units in Peru’s Pasco region. The company also owns two hydro plants, Marcopampa and Chaprin, with an installed capacity of 6.6MW. Minera Atacocha was founded in 1936 and is controlled by local company Compañía Minera Milpo S.A.A.

Join the 2017 Latin America Mining Mission May 10-23

Canadian Mining Suppliers™ is bringing 12 companies on a Latin America mining mission to visit Chile, Peru, Colombia, and Mexico to meet business partners and mining buyers.

Join the Mining Mission

Peru Investment per Category 2016

Plant Equipment

Company 2016
Other ( 2015= 107 Companies; 2016= 101 Companies) $28 M