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Peru
Cerro Corona Mine

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 Location:
134 km E from Chiclayo, Peru

  Regional Office:
Av. El Derby No. 055 Torre 1 – Piso 10 Santiago de Surco
Lima
Peru
15023
Phone+511-706-0430 or 0400
Fax+511-706-042
WebsiteWeb
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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
  • Gold
  • Copper
Mining Method
  • Truck & Shovel / Loader
Production Start2008
Mine Life9 years (as of Jan 1, 2021)


Owners

Source: p. 373
CompanyInterestOwnership
Gold Fields Ltd. 99.53 % Indirect
Ownership Tree
Gold Fields La Cima S.A. (“La Cima”) owns the Cerro Corona operation in Peru.

Contractors

ContractorContractDescriptionRef. DateExpirySource
San Martin Contratistas Generales Mine Operator Contract mining is deployed in the open pit applying conventional drill, blast, load and haul methods. Dec 31, 2021


Deposit Type

  • Porphyry
  • Breccia pipe / Stockwork
  • Vein / narrow vein

Source: Source p.6, 10

Summary:

The Cerro Corona copper-gold deposit is typical of porphyry style mineralisation comprising stock work quartz-pyrite-marcasite-chalcopyrite ± bornite ± hematite ± magnetite veining, hosted by intensely altered intrusive lithologies of diorite to dacitic composition.

The Cerro Corona copper-gold deposit is hosted by a 600 to 700 metre diameter sub-vertical, cylindrical-shaped diorite porphyry emplaced in mid-Cretaceous limestone, marls and siliciclastic rocks. Within the porphyry, the copper-gold mineralisation is primarily associated with zones of stock work quartz veining conforming to classic porphyry-type vein definition. The Cerro Corona porphyry is unusual in that it carries a very high gold content compared to other copper-gold deposits.

There are at least two phases of diorite placement, only one of which is mineralised. The non-mineralised diorite is generally regarded as the last event, and is referred to as ‘barren core’. Most recent geological modelling strongly suggests that the Cerro Corona porphyry probably comprises four or five satellite stocks, the last two of which are barren. Early mineralisation was accompanied by moderate to strong potassic alteration, which has been commonly overprinted by late, semi pervasive argillic alteration and locally, by structurally controlled phyllic alteration assemblages (quartz-sericite-pyrite).

There are three distinct mineralised zones within the deposit. These are identified as the annulus zone, the northern zone and the southern zone. Each of these is treated separately in geological and resource modelling.

In addition to the mineralised zones, the deposit is characterised by several domains conforming to the degree of oxidation and weathering. Supergene oxidation and leaching processes at Cerro Corona have led to the development of a weak to moderate copper enrichment blanket. This allows for the subdivision of the deposit from the surface downward, into an oxide zone, a mixed oxide sulphide zone, a secondary enriched (supergene) sulphide zone and a primary (hypogene) sulphide zone.


Mining Methods

  • Truck & Shovel / Loader

Source:

Summary:

Cerro Corona Mine operates one open-pit operation and one copper-gold plant at elevations ranging from approximately 3,600 to 4,000 metres above mean sea level. Contract mining is deployed in the open pit, applying conventional drill, blast, load and haul methods. Accelerated mining, based on nine separate pit stages, exceeds processing rates, allowing generated tailings to be placed back in the pit. Ore is stockpiled during the accelerated mining phase at Cerro Corona and is typically managed at net smelter return (NSR) cut-off values of between US$14.99/t and US$26/t. The Cerro Corona deposit is mined by conventional surface open-pit mining methods. The final surface mine area is expected to cover some 900 by 1,000 metres. The mining operation will extend from the crest of the original Cerro Corona hill, which peaked at 3,964mRL, to a final depth at around 3,570mRL. The Cerro Corona pit is mined via open cut methods by conventional drill and blast with a truck and excavator fleet. Load and haul is carried out by 36 tonne dump trucks and excavators with a 9 tonne bucket capacity. Mining benches are all 10m high and haul roads have a maximum gradient of 10%. All the material requires drill and blast with varying powder factors according to rock hardness, using a 200mm blast hole diameter.


Crushing and Grinding
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Processing

  • Flotation
  • Filter press

Source: Source

Summary:

The processing plant consists of a conventional primary crushing, semi-autogenous grind (SAG)/ball milling and flotation circuit to generate a copper-gold concentrate. The final concentrate is thickened and filtered before being stockpiled for road transport (380km) to the Salaverry port for shipment to copper smelters in Japan and Germany. The thickened rougher flotation tails and the cleaner scavenger flotation tails are transferred individually to the TSF.

TSF embankments are constructed in a downstream/centreline manner and located downstream from the process plant over the Las Gordas and Las Águilas gorges. The embankments (Las Gordas, Las Águilas and La Hierba) are being constructed progressively with borrow materials from limestone quarries. The embankments contain a clay core constructed from pit material (oxide material). The TSF has a remaining LoM storage capacity of ~26.4Mt up to 3,803m relative level (mRL).

Recoveries & Grades:

CommodityParameter2021202020192018201720162015
Gold Recovery Rate, % 65656668.170.467.571.9
Gold Head Grade, g/t 0.830.871.151.071.081.031.07
Copper Recovery Rate, % 878889888986.686.1
Copper Head Grade, % 0.460.440.550.570.520.530.52

Production:

CommodityProductUnits2022202120202019201820172016
Gold Metal in concentrate koz 120 ^113119156150159150
Copper Metal in concentrate M lbs 60 ^575568716668
Gold Equivalent Metal in concentrate koz 255 ^2482072933140.3270
Copper Concentrate kt 134124152159153156
^ Guidance / Forecast.

Operational Metrics:

Metrics202120202019201820172016
Total tonnes mined 28,301 kt18,225 kt22,341 kt21,776 kt15,744 kt14,452 kt
Ore tonnes mined 8,959 kt7,303 kt8,024 kt6,854 kt7,085 kt7,061 kt
Waste 19,342 kt10,921 kt14,317 kt14,922 kt8,659 kt7,391 kt
Tonnes milled 6,817 kt6,796 kt6,718 kt6,644 kt6,796 kt6,977 kt
Stripping / waste ratio 2.2 1.5 1.8 2.2 1.2 1
Plant annual capacity 6.7 Mt6.7 Mt6.7 Mt6.9 Mt6.7 Mt6.7 Mt

Reserves at December 31, 2021:
Mineral Resources: NSR for mill feed 14.99 US$/t, Au cut-off for oxide ore 0.4 g/t.
Mineral Reserves: NSR for mill feed 28 US$/t.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Stockpiles 7,117 kt Gold 0.64 g/t 147 koz
Proven In-Situ (OP) 48,944 kt Gold 0.59 g/t 926 koz
Proven Stockpiles 7,117 kt Copper 0.31 % 49 M lbs
Proven In-Situ (OP) 48,944 kt Copper 0.38 % 410 M lbs
Probable In-Situ (OP) 2,232 kt Gold 0.48 g/t 35 koz
Probable In-Situ (OP) 2,232 kt Copper 0.35 % 17 M lbs
Proven & Probable Total 58,294 kt Gold 0.59 g/t 1,108 koz
Proven & Probable Total 58,294 kt Copper 0.37 % 476 M lbs
Measured Stockpiles 7,117 kt Gold 0.64 g/t 147 koz
Measured In-Situ (OP) 78,447 kt Gold 0.54 g/t 1,369 koz
Measured Stockpiles 7,117 kt Copper 0.31 % 49 M lbs
Measured In-Situ (OP) 78,447 kt Copper 0.36 % 620 M lbs
Indicated In-Situ (OP) 10,603 kt Gold 0.46 g/t 156 koz
Indicated In-Situ (OP) 10,603 kt Copper 0.32 % 75 M lbs
Inferred In-Situ (OP) 301 kt Gold 0.37 g/t 4 koz
Inferred In-Situ (OP) 301 kt Copper 0.3 % 2 M lbs
Total Resource Total 96,469 kt Gold 0.54 g/t 1,676 koz
Total Resource Total 96,469 kt Copper 0.35 % 746 M lbs

Commodity Production Costs:

CommodityUnits202220212020201920182017
All-in sustaining costs (sold) Gold Equivalent USD 900 / oz ^†  
All-in sustaining costs (sold) Gold USD 320 / oz ^†   -34 / oz†   484 / oz†   472 / oz†   282 / oz†   203 / oz†  
All-in costs Gold Equivalent USD 990 / oz ^†  
All-in costs Gold USD 500 / oz ^†   230 / oz†   715 / oz†   472 / oz†   282 / oz†   203 / oz†  
^ Guidance / Forecast.
† Net of By-Product.

Financials:

Units2022202120202019201820172016
Capital expenditures (planned) M USD 46  
Sustaining costs M USD 27.6  24   33   34   42.8  
Growth Capital M USD 28  26  
Capital expenditures M USD 55.7  50  56.1   33   34   42.8  
Revenue M USD 434.8  368.8  399   351   392.9   322.3  
After-tax Income M USD 54.8  53.9  83.1   42.6   97.4   -73.1  



Heavy Mobile Equipment as of December 31, 2021:
Source: Source p.32
HME TypeSize
Truck (haul) 55 t

Mine Management:

Job TitleNameProfileRef. Date
Engineering Manager Ricardo Caycho LinkedIn Apr 6, 2022
Head of Processing Marco B. LinkedIn Apr 6, 2022
Metallurgical Superintendent Hyder Mamani LinkedIn Apr 6, 2022
Mine Superintendent Rafael Guerrero Valqui LinkedIn Apr 6, 2022
VP Operations Ronald Diaz Vásquez LinkedIn Apr 6, 2022

Staff:

EmployeesContractorsTotal WorkforceYear
639 6,294 6,903 2021
568 3,700 4,268 2020
545 2,862 3,407 2019

Corporate Filings & Presentations:

DocumentYear
Financial Review 2021
Form 20-F 2021
Integrated Report 2021
Technical Report 2021
Year-end Mineral Reserves 2021
Financial Review 2020
Form 20-F 2020
Integrated Report 2020
Year-end Mineral Reserves 2020
Annual Report 2019
Integrated Report 2019
Year-end Mineral Reserves 2019
Form 20-F 2018
Year-end Mineral Reserves 2018
Form 20-F 2017
Year-end Mineral Reserves 2017
Annual Report 2016
Financial Review 2016
Year-end Mineral Reserves 2016
Annual Report 2015
Year-end Mineral Reserves 2015
Year-end Mineral Reserves 2015
Other 2014
Technical Report 2014
Technical Report 2012

Aerial view:

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