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Peru
Cerro Verde Mine

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 Location:
14 km SW from Arequipa, Peru

  Address:
Av. Alfonso Ugarte 304
Arequipa
Peru
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Copper
  • Molybdenum
  • Silver
Mining Method
  • Truck & Shovel / Loader
Processing
  • Crush & Screen plant
  • Dry Screening
  • Filter press plant
  • Dewatering
  • Flotation
  • Heap leach
  • ROM/dump leach
  • Solvent Extraction & Electrowinning
Mine Life2052
Latest NewsBuenaventura Announces Fourth Quarter 2021 Production Results and 2022 Production Guidance     January 31, 2022


Owners

Source: p. 18
CompanyInterestOwnership
Compania de Minas Buenaventura S.A.A. 19.58 % Indirect
SMM Cerro Verde Netherlands B.V. 21 % Indirect
Freeport-McMoRan Inc. 53.56 % Indirect
Sociedad Minera Cerro Verde S.A.A. (operator) 100 % Direct
Freeport have a 53.56 percent ownership interest in Cerro Verde, with the remaining 46.44 percent held by SMM Cerro Verde Netherlands B.V. (21.0 percent), Compañia de Minas Buenaventura S.A.A. (19.58 percent) and other stockholders whose shares are publicly traded on the Lima Stock Exchange (5.86 percent).

Deposit Type

  • Porphyry


Summary:

The Cerro Verde mine is a porphyry copper deposit that has oxide and secondary sulfide mineralization, and primary sulfide mineralization. The predominant oxide copper minerals are brochantite, chrysocolla, malachite and copper “pitch.” Chalcocite and covellite are the most important secondary copper sulfide minerals. Chalcopyrite and molybdenite are the dominant primary sulfides.


Mining Methods

  • Truck & Shovel / Loader


Summary:

Cerro Verde is an open-pit copper and molybdenum mining complex that has been in operation since 1976.

The available fleet consists of fifty-four 300-metric-ton haul trucks and ninety-three 245-metric-ton haul trucks (21 of which are currently on standby) and three 363-metric-ton leased haul trucks loaded by thirteen electric shovels with bucket sizes ranging in size from 33 to 57 cubic meters and two hydraulic shovels with a bucket size of 21 cubic meters (both of which are currently on standby). This fleet is capable of moving an average of approximately 970,000 metric tons of material per day.

The highest bench elevation is 2,810 meters above sea level and the ultimate pit bottom is expected to be 1,523 meters above sea level.


Crushing and Grinding
Crusher / Mill TypeModelSizePowerQuantity
High Pressure Grinding Rolls (HPGR)

Summary:

The original concentrator design included the use of High Pressure Grinding Rolls (HPGRs) for tertiary comminution, which was the first base metal concentrator to use HPGR technology. The materials handling system involves primary and secondary crushers, HPGR units and crushing, mill grinding, screening, and conveying systems.


Processing

  • Crush & Screen plant
  • Dry Screening
  • Filter press plant
  • Dewatering
  • Flotation
  • Heap leach
  • ROM/dump leach
  • Solvent Extraction & Electrowinning

Source: Subscription required

Summary:

Cerro Verde’s operation consists of two concentrating facilities with a total milling design capacity of 360,000 metric tons of ore per day and SX/EW leaching facilities. Leach copper production is derived from a 39,000-metric-ton-perday crushed leach facility and a 100,000-metric-ton-per-day ROM leach system. This SX/EW leaching operation has a capacity of approximately 200 million pounds of copper per year.


Copper recovery is achieved with multistage flotation technology with regrinding of middling products. Fluor, having successfully designed and built the original, 108,000 tpd Cerro Verde C1 (debottlenecked to 120,000 tpd) copper/molybdenum concentrator in 2007.

The 240,000 tpd Cerro Verde Production Unit Expansion concentrator design is based on conventional copper sulfide flotation unit operations, replicating the C1 process but includes larger process equipment at a separate location on the mine property.

The phased start-up of the new con ........


Production:

CommodityProductUnits2021202020192018201720162015
Copper Mineral in concentrate M lbs  ......  Subscription required
Molybdenum Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Copper Cathode M lbs  ......  Subscription required  ......  Subscription required8882108105
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required9629801,000439
Silver Metal oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Daily mining capacity  ......  Subscription required  ......  Subscription required1,050,000 t975,000 t910,000 t735,000 t
Daily milling capacity  ......  Subscription required  ......  Subscription required409,500 t409,500 t360,000 t360,000 t
Annual production capacity  ......  Subscription required  ......  Subscription required200 M lbs of copper cathode200 M lbs of copper cathode200 M lbs of copper cathode200 M lbs of copper cathode
Daily processing capacity  ......  Subscription required  ......  Subscription required548,500 t548,500 t
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Cut-off grades for reserves are:
- Mill - 0.15 % Cu;
- Heap leach - 0.24 % Cu;
- ROM leach - 0.08 % Cu.
Cut-off grades for resources is 0.14 % Cu.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Heap leach 19 Mt Copper 0.43 %
Proven ROM leach 33 Mt Copper 0.38 %
Proven Sulphide 670 Mt Copper 0.38 %
Proven Sulphide 670 Mt Molybdenum 0.02 %
Proven Sulphide 670 Mt Silver 2 g/ton
Probable Heap leach 2 Mt Copper 0.42 %
Probable ROM leach 56 Mt Copper 0.26 %
Probable Sulphide 3,219 Mt Copper 0.36 %
Probable Sulphide 3,219 Mt Molybdenum 0.01 %
Probable Sulphide 3,219 Mt Silver 1.92 g/t
Proven & Probable Heap leach 22 Mt Copper 0.43 % 0.2 B lbs
Proven & Probable ROM leach 89 Mt Copper 0.31 % 0.3 B lbs
Proven & Probable Sulphide 3,888 Mt Copper 0.37 % 26.8 B lbs
Proven & Probable Sulphide 3,888 Mt Molybdenum 0.01 % 0.69 B lbs
Proven & Probable Sulphide 3,888 Mt Silver 1.93 g/t 108.4 M oz
Measured Heap leach 10 Mt Copper 0.35 %
Measured Sulphide 22 Mt Copper 0.31 %
Measured Sulphide 22 Mt Molybdenum 0.01 %
Measured Sulphide 22 Mt Silver 1.64 g/t
Indicated Heap leach 27 Mt Copper 0.29 %
Indicated Sulphide 1,460 Mt Copper 0.36 %
Indicated Sulphide 1,460 Mt Molybdenum 0.01 %
Indicated Sulphide 1,460 Mt Silver 1.9 g/t
Inferred Heap leach 673 Mt Copper 0.32 %
Inferred Sulphide 673 Mt Copper 0.35 %
Inferred Sulphide 673 Mt Molybdenum 0.01 %
Inferred Sulphide 673 Mt Silver 1.87 g/t
Total Resource Heap leach 50 Mt Copper 0.31 % 0.3 B lbs
Total Resource Sulphide 2,155 Mt Copper 0.356 % 16.8 B lbs
Total Resource Sulphide 2,155 Mt Molybdenum 0.1 % 0.6 B lbs
Total Resource Sulphide 2,155 Mt Silver 1.88 g/t 130.5 M oz

Commodity Production Costs:

CommodityUnits2018201720162015
Cash costs Copper USD 1.67 / lb† 1.58 / lb† 1.33 / lb† 1.64 / lb†
† Net of By-Product.

Financials:

Units2021202020192018201720162015
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required410.8   152.8   421.6   1,596  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required3,054   3,203   2,384   1,116  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required837.4   1,034   675.6   170.8  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required1,043   1,435   831.1   253.6  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required444.9   835.9   604   79.5  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required119.7   349.9   340.9   33.3  
Subscription required - Subscription is required


Heavy Mobile Equipment:
HME TypeSizeQuantityLeased or
Contractor
Ref. Date
Shovel (hydraulic) 21 cu. m ....................... Subscription required Dec 31, 2020
Shovel (rope) 57 cu. m ....................... Subscription required Dec 31, 2020
Truck (haul) 363 t ....................... Subscription required Leased Dec 31, 2021
Truck (haul) 300 t ....................... Subscription required Dec 31, 2021
Truck (haul) 230 t ....................... Subscription required Dec 31, 2021
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
....................... Subscription required ....................... Subscription required Subscription required May 6, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Form 10-K 2018
Form 20-F 2018
Form 10-K 2017
Form 20-F 2017
Quarterly Report 2017
Form 10-K 2016
Form 20-F 2016
Project Description 2016
Quarterly Report 2016
Form 10-K 2015
Form 20-F 2015
Quarterly Report 2015
Form 10-K 2014
Form 20-F 2014
Quarterly Report 2014
Form 20-F 2013
Quarterly Report 2013
Form 20-F 2012
Quarterly Report 2012
Form 20-F 2011
Form 20-F 2010
Subscription required - Subscription is required.

News:

NewsDate
Buenaventura Announces Fourth Quarter 2021 Production Results and 2022 Production Guidance January 31, 2022
Freeport-McMoRan Provides Update on Cerro Verde Mine in Peru April 13, 2020
Freeport-McMoRan Issues Statement on Government Declaration of National Emergency in Peru March 17, 2020

Aerial view:

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