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Peru
Cerro Verde Mine

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 Location:
14 km SSW 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
Production Start...
Mine Life2052
Cerro Verde is located in a desert environment with rainfall averaging 1.5 inches per year and is in an active seismic zone.

Owners

Source: p. 20
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).

Contractors

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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.

The Cerro Verde mining district comprises a copper-molybdenum porphyry cluster that includes a series of deposits (CV, SR, and CN) which are related to calc-alkaline intrusions (dacite to monzonite porphyry) and quartz-tourmaline hydrothermal breccia bodies.

In general, these deposits are low grade and high tonnage, genetically related to igneous epizonal intrusions and characterized by multiple events from a parental magmatic chamber, which are distributed along the Incapuquio fault system corridor.

The three deposits are currently in production with each having similar characteristics. The deposits are differentiated by the level of erosion, alteration intensity and magmatic history.

The Cerro Verde mine encompasses the Cerro Verde (CV), Santa Rosa (SR), and Cerro Negro (CN) ore deposits.

The CV and SR deposits are located in the core of a gently folded west-northwest striking basement-cored anticline or southwest-tilted structural block. The anticlinal axis parallels the Tinajones fault system, a regional north 60-degree west to east-west s ........

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 (17 of which are currently on standby) and seven leased haul trucks (three 360-metric-ton and four 363-metric-ton) 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 (one of them is currently on standby). This fleet is capable of moving an average of approximately 1,000,000 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.

Haul roads and geomechanical catchment berms or step-ins, in conjunction with the recommended inter-ramp slope angles, determine the overall pit slope angles for the design. Inter-ramp slope angles account for differences in rock quality and can include single or double bench designs and various catch bench widths. Thirteen geotechnical domains have been defined at the pit areas, each with different design inter-ramp slope angles. The inter-ramp slope angles vary between 38 to 52 degrees.

The final mine design for the CV and SR open-pit is approximately 2.8 kilometers in width (northeast-southwest) and 5.3 kilometers in length (northwest-southeast). The expected depth of the p ........

Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityProductUnits2022202120202019201820172016
Copper Cathode k lbs  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required87,58382,180107,960
Copper Metal in concentrate k lbs  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required961,846980,030999,850
Molybdenum Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Operational Metrics:

Metrics202220212020201920182017
Daily mining capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required1,050,000 t975,000 t910,000 t
Daily milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required409,500 t409,500 t360,000 t
Annual production capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required200 M lbs of copper cathode200 M lbs of copper cathode200 M lbs of copper cathode
Daily processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required548,500 t548,500 t
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Reserves at December 31, 2022:
Mineral Reserves Cut-off grades: Sulphide - 0.13 % CuEq, Heap leach - 0.25 % CuEq, ROM leach - 0.08 % CuEq.
Mineral Resources Cut-off grades: Sulphide - 0.12 % CuEq, ROM leach - 0.08 % CuEq.

CategoryOreTypeTonnage CommodityGradeContained MetalRecoverable Metal
Proven & Probable Heap leach 9 Mt Copper 0.43 % B lbs 0.1 B lbs
Proven & Probable ROM leach 116 Mt Copper 0.25 % B lbs 0.3 B lbs
Proven & Probable Stockpiles 587 Mt Copper 0.44 % B lbs 0.3 B lbs
Proven & Probable Sulphide 4,109 Mt Copper 0.35 % B lbs 27.1 B lbs
Proven & Probable Sulphide 4,109 Mt Molybdenum 0.01 % B lbs 0.7 B lbs
Proven & Probable Sulphide 4,109 Mt Silver 1.85 g/t M oz 109.5 M oz
Measured ROM leach 6 Mt Copper 0.36 %
Measured Sulphide 33 Mt Copper 0.26 %
Measured Sulphide 33 Mt Molybdenum 0.01 %
Measured Sulphide 33 Mt Silver 1.38 g/t
Indicated ROM leach 20 Mt Copper 0.24 %
Indicated Sulphide 2,080 Mt Copper 0.33 %
Indicated Sulphide 2,080 Mt Molybdenum 0.01 %
Indicated Sulphide 2,080 Mt Silver 1.73 g/t
Inferred ROM leach 22 Mt Copper 0.29 %
Inferred Sulphide 1,396 Mt Copper 0.33 %
Inferred Sulphide 1,396 Mt Molybdenum 0.01 %
Inferred Sulphide 1,396 Mt Silver 1.76 g/t
Total Resource ROM leach 48 Mt Copper 0.28 % 0.3 B lbs
Total Resource Sulphide 3,508 Mt Copper 0.33 % 25.2 B lbs
Total Resource Sulphide 3,508 Mt Molybdenum 0.01 % 0.85 B lbs
Total Resource Sulphide 3,508 Mt Silver 1.74 g/t 196.1 M oz

Commodity Production Costs:

CommodityUnits202220212020201920182017
Cash costs Copper USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Cash costs Copper USD 1.67 / lb†   1.58 / lb†  
† Net of By-Product.
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Financials:

Units2022202120202019201820172016
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 410.8   152.8   421.6  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 3,054   3,203   2,384  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 837.4   1,034   675.6  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,043   1,435   831.1  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 444.9   835.9   604  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 119.7   349.9   340.9  
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Water Supply
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Heavy Mobile Equipment as of December 31, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
Drill (blasthole) ....................... Subscription required
Loader (FEL) ....................... Subscription required
Shovel (hydraulic) 21 cu. m ....................... Subscription required
Shovel (rope) ....................... Subscription required
Truck (haul) ....................... Subscription required 363 tons ....................... Subscription required Leased
Truck (haul) ....................... Subscription required 360 tons ....................... Subscription required Leased
Truck (haul) 300 t ....................... Subscription required
Truck (haul) 245 t ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
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Staff:

EmployeesYear
Subscription required 2022
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Form 10-K 2022
Form 20-F 2022
Other 2022
Technical Report 2022
................................... Subscription required 2021
................................... 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
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