Volcan Compañía Minera S.A.A. is a subsidiary of Glencore AG, which is a subsidiary of Glencore Plc., owner of 63% of common class A voting shares and an economic interest of 23%, excluding treasury shares.
Volcan Compañía Minera S.A.A. and its subsidiary companies engaged in the mining sector operate the mining unit of Yauli, which includes the Carahuacra underground mine.
In Q4 2022, Glencore commenced a process to dispose of its 23.3% economic interest in Volcan, which is ongoing. As a result, the carrying amounts of Volcan assets and liabilities as at 31 December 2023 and 31 December 2022 are classified as held for sale.
Summary:
The Yauli unit region shows mineralization related to polymetallic epithermal systems, replacement bodies and polymetallic vein systems, as well as porphyry mineralization and skarns, thus indicating the great potential of the area.
The Carahuacra deposit lies on the southwest flank of the Yauli anticline, formed by Tertiary folding. Manto ore, formed before the climax of the Andean orogeny, consists mainly of ferroan sphalerite and pyrite, with negligible chalcopyrite. These were later brecciated tectonically to form two zones of 'breccia ore'. The last phase of mineralization involved formation of epithermal cross veins with sphalerite, pyrite, galena, tetrahedrite, and jamesonite, and irregular cementation of fragments in the breccia ore by sphalerite-galena and pyrite-marcasite. Supergene alteration, particularly pronounced in the breccia zone, has formed ore much enriched in silver (native silver, argentite, pyrargyrite).
(Translated from Spanish by Google Translate)
In 2023, the exploration of Techo Pucará continued, which began during 2022, having executed 2,542 m in the Escondida – San Martín sector, which made it possible to define Body J with important mineralization of Zn, Ag and Pb and at 350 m of surface.
In Carahuacra, mineral resources with high grades of zinc, lead, silver and copper are consolidated, in the mantles of the Principal and Paula systems, as well as in the Eastern extension and the deepening of the Lourdes vein. In addition, continuity of economic mineralization is confirmed in the Jovencita mantle above level 720, with high grades of zinc and silver.