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Lima – Perú, Setiembre 2018

PT/INGEMMET: N° 002 - 2018

METALLIC MINING POTENTIAL AND MINING
EXPLORATION IMPACTS IN PERU

Jorge ACOSTA ALE

DIRECCIÓN DE RECURSOS MINERALES Y ENERGÉTICOS

Lima
Setiembre, 2018
 Content
• Principal mines in Peru
• Metallogenic belts
• Record of metallic historical production
• Future mines
• Global exploration investment
• Local mining and exploration investment
• Portfolio Mining Construction Projects
 Principal Mines in Peru

TANTAHUATAY
Au, Ag
CERRO CORONA
CHAQUICOCHA Au, Ag
Au, Ag
CHAUPILOMA SHAHUINDO
Au, Ag Au, Ag
PARCOY
LAGUNAS NORTE Au, Ag
Au, Ag RETAMAS
LA ARENA Au, Ag
Au, Ag

PIERINA RAURA
Au, Ag
Cu, Zn, Ag, Pb
ANTAMINA
Co, Mo, Ag, Pb, Zn MILPO
UCHUCCHACUA Ag, Pb, Zn Cu, Au, Ag, Pb, Zn
ISCAYCRUZ CERRO DE PASCO

More than Co, Mo, Pb, Zn

ANIMON
Cu, Ag, Pb, Zn

YAURICOCHA
Cu, Ag, Pb, Zn
Cu,Ag,Pb,Zn
SAN CRISTOBAL (Polimetálico)
TOROMOCHO (Cu,Mo)
ANDAYCHAGUA
Cu, Ag, Pb, Zn
COBRIZA

39 mining
CONDESTABLE Cu, Ag
Cu, Au, Ag

CERRO LINDO LAS BAMBAS SAN RAFAEL

Cu, Zn, Ag, Pb
CATALINA HUANCA Cu Sn
JULCANI Cu, Zn, Au, Ag, Pb CONSTANCIA
Ag, Au, Cu Cu, Mo

operations
ANTAPACAY
INMACULADA Cu, Au, Ag

MARCONA TAMBOMAYO
Fe
ORCOPAMPA Au-Ag
Au, Ag
MARIELA
Au, Ag
CERRO VERDE
Cu, Mo
CUAJONE
Cu, Mo, Au, Ag
TOQUEPALA PUCAMARCA
Au
Cu, Mo, Au, Ag
Metallogenic belts Peru
Historical Metallic Production and
Metallogenic belts
Gold historical metallic production
 Historic Cumulative Gold
Production in Peru

Total Production in Peru

~137 Moz (100%) Yanacocha
>34 Moz
Production from main gold belts 19 Moz
115 Moz (84%) 14%
Parcoy, Retamas
Lagunas Norte & Poderosa
Other Au belts: 4 Moz (3%) >10 Moz
>3 Moz
Other non-Au belts: 18 Moz (13%) Santa Rosa >2 Moz

Million Onces Pierina >5 Moz

of Fine Gold
Mines Deposit types

<1 86Moz
5-1
63% 14 Moz
30-5 10%
MDD
> 30 > 9 Moz

Arasi
Metallogenic belts > 0.5 Moz
Orcopampa
Miocene epithermal belt Laytaruma > 1Moz
Tukari & Santa Rosa
Upper Cretaceous intrusion-related gold belt 10 Moz < 1 Moz
Sn Jn Chorunga
7% ~1 Moz
Carboniferous-Permian orogenic gold belt
Source: Modified from J. ACOSTA Ale et al. 2014. Production of Gold and Silver in Peru: Past, Present and Future. 11th International Gold & Silver Symposium, 2014
Silver historical metallic production
 Historic Cumulative Silver
Production in Peru

Total Production in Peru 2,988 Moz

49%
~6,097 Moz (100%)
Hualgayoc 315 Moz
Production from main silver belts Yanacocha
5,792 Moz (95%)
Quiruvilca 108 Moz
Other non-Ag belts: 305 Moz (5%)
Antamina >148 Moz
Million Onces Mines Raura >44Moz Cerro de Pasco >355 Moz
of Fine Silver
Uchucchacua 181 Moz Colquijirca >106 Moz
< 100 Milpo+Atacocha 222 Moz
San Cristobal >80 Moz
200-100 Huaron 155 Moz

300-200 Casapalca 198 Moz

Yauricocha > 70 Moz 2,805Moz
San Genaro > 60Moz Julcani 101 Moz 46%
> 300
Selene >17 Moz
Pallancata 47 Moz
Metallogenic belts Sn Jn Lucanas > 35 Moz
Arcata 173 Moz
Ares >26 Moz
Orcopampa > 70 Moz
Miocene epithermal belt Caylloma 166 Moz
Cuajone+Toquepala
Miocene skarn, porphyry, replacement & vein deposits belt 96 Moz
Paleocene-Eocene porphyry belt
Source: Modified from J. ACOSTA Ale et al. 2014. Production of Gold and Silver in Peru: Past, Present and Future. 11th International Gold & Silver Symposium, 2014
Copper historical metallic production
 Historic Cumulative Copper
Production in Peru

Total Production in Peru

~37 MMT (100%)
Production from main porphyry belts
30 MMT (82%) 6.7
Other Cu belts: 3 MMT (7%)
Other non-Cu belts: 4 MMT (11%) MMT
18%
Antamina
Million Metric Tons 5.8 MMT
Mines
of Fine copper
<1
1-3 2.6 MMT
3-5
7%
5-7 Tintaya
2.0 MMT
Metallogenic belts
Toquepala
Miocene porphyry belt 6.7 MMT
Eocene-oligocene porphyry belt
Paleocene porphyry belt
21 MMT
57%
Lead historical metallic production
 Historic Cumulative Lead
Production in Peru
Total Production in Peru
~15 MMT (100%)
From Miocene belt
14.6 MMT (97%) 14.6 MMT
97%
From Lower Cretacic-Paleocene belt
0.3 MMT (2%)
Antamina
Other no Pb-Zn belts
Raura
0.1 MMT (1%) Atacocha
Santa Luisa Milpo
Production 2014 Uchucchacua Cerro de Pasco
Mines Colquijirca
Tons of Fine Lead Mallay Huarón
Iscaycruz Animón
X 1000 Unidad Santander San Cristobal-Volcan
Ma Teresa Ticlio
<7 Yauricocha
Casapalca
7-10 0.3 MMT Americana Huachocolpa
C° Lindo
10-15 2% Catalina Huanca
> 15 San Cristobal-Bateas

Metallogenic belts
Miocene epithermal, skarn, replacement & polimetallic vein deposits
Lower Cretaceous– Paleocene VMS Cu-Zn-Au
Modified from Jorge ACOSTA et al. 2015. MAIN METALLOGENIC BELTS AND SUPPLY TREND OF LEAD AND ZINC IN PERU. Pro Explo 2015.
Zinc historical metallic production
 Historic Cumulative Zinc
Production in Peru
Total Production in Peru
~45 MMT (100%)
From Miocene belt
42.3 MMT (94%)
42.3 MMT
From Lower Cretaceous-Paleocene belt
94%
2.3 MMT ( 5%)
Antamina
Other no Pb-Zn belts
0.4 MMT ( 1%) Raura
Santa Luisa Atacocha Milpo
Production 2014
Mines Cerro de Pasco
Tons of Fine Zinc Iscaycruz
Colquijirca
Huarón
X 1000 Animón San Cristobal-Volcan
Unidad Santander Carahuacra
< 50 Maria Teresa Ticlio Andaychagua
50-100 Casapalca Yauricocha

100-200
2.3 MMT Americana C° Lindo
5% Catalina Huanca
> 200

Metallogenic belts
Miocene epithermal, skarn, replacement & polimetallic vein deposits
Lower Cretaceous– Paleocene VMS Cu-Zn-Au
Modified from Jorge ACOSTA et al. 2015. MAIN METALLOGENIC BELTS AND SUPPLY TREND OF LEAD AND ZINC IN PERU. Pro Explo 2015.
Ranking of Global Investment in
Mining Exploración
 Record of Global Exploration Budget

25,000
8,400 4.34 4.25
5

21,400 4.5

20,000
millones USD 3.56 18,200 3.75
4

2017 3.12
2.85
2.6 15,200
3.38
2.9 3.1
3.35
3.5

15,000 14,300 3
2.57
12,100 2.5
11,500 11,200

10,000 1.6 9,200 2

8,500 8,400
1.37 8,000
7,300
1.5
0.9 1.06
0.85 0.95 0.84 0.87 5,100
5,000 4,000 1
3,600
2,900 2,500 2,300
2,100 2,400 0.5

0 0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Total global budget (million USD) Annual indexed metals price

World Exploration Trends. A Special Report from S&P Global Market Intelligence for the PDAC International Convention March 2018(Annual Indexed metals Price (1993 = 1)
 5th Place in Participation of the Global Budget in
Mining Exploration (%)

8,400
millones USD

588 millones
USD

Source: S&P Global Market Intelligence 2018 in Anuario Minero 2017 - Perú
Mining and Exploration Investment
in Peru
 Peruvian Total Mining Investment (Million USD)

last 10 year acumulated 8,864

mining investment 8,079
7,498
6,825
6,378

51,790
millons USD 3,332 3,334
3,928

2,290
1,500 1,320 1,504 1,542
1,140 1,253 1,190 1,268
611 828
500

Source: Anuario minero 2017

* Datos preliminares
Annual Mining Investment by Region (Million USD)
2017

529 518

387 375 361

275 268
213 205
173 172 162

102
83
49 37
18

Source: Anuario minero 2017

 Annual Investment in Mining by Rubros
2017
Benefit Plant
Development 7%
and
Preparation
10%

Infrastructure
Exploration
40%
12%

Mining
equipment
13%
Others
Source: Anuario minero 2017
18%
Peruvian Total Exploration Investment (Million USD)

last 10 year acumulated

exploration investment
905
869

5,743 millons
776

616 625

USD 527
484
394 377

168
137
84 102

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017*

Source: Anuario minero 2017

* Datos preliminares
 Portfolio of Mining Construction Projects
According to Stage, Metal and Investment

3,000

2,500

2,000

1,500

1,000

500

0
19 18 09 03
Prefeasibility Feasibility Engineering detail Construction

Source: Anuario minero 2017 ( 01.03.2018)

 Future Producers
of Au-Ag-Cu-Pb-Zn en Peru
Planned Annual Production of
Tons of Fine Copper Projects
X 1000
1-10
10-50 Río Blanco

50-200 Cañariaco
La Granja
200-500
Minas Conga
El Galeno
Michiquillay
Planned Annual Production
Onces of Fine Gold Projects
X 1000 Magistral
San Luis
< 100 Hilarión
100-200 Quicay II

400-200 Ariana

> 400
Cotabambas Accha
Pukaqaqa
Haquira Corani
Anubia
Ollachea
Annual Production Annual Production Los Chancas
Million Onces of Fine Silver Projects Million Tons of Fine Zinc Projects Crespo Quechua
Mina Justa
San Gabbriel
Santa Ana
<2 < 50
Zafranal
2-4 50-100 Los Calatos
>4 > 100 Tía María
Quellaveco
Gracias
 METALLIC MINING POTENTIAL AND ITS
IMPACT ON MINING EXPLORATION IN PERU

INGEMMET
DIRECCIÓN DE RECURSOS MINERALES Y
ENERGÉTICOS

Lima
Setiembre, 2018