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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
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
  • Copper
Mining Method
  • Truck & Shovel / Loader
Processing
  • Flotation
Mine Life13 years (as of Jan 1, 2019)


Owners & OPERATOR

Source: p. 21
CompanyInterestOwnership
San Martin Contratistas Generales (operator)
Gold Fields Ltd. 99.53 % Indirect
Cerro Corona is owned by GFLC (Gold Fields La Cima), which holds 99.53% of the economic interest.

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: p.34

Summary:

The Cerro Corona deposit is mined by conventional surface open pit mining methods. The final surface mine area is expected to cover some 950m by 1,050m. The mining operation will extend from the crest of the original Cerro Corona hill, which peaked at 3,964m amsl, to a final depth at around 3,460m amsl.

The current mining operation using open pit methods will be continued on a similar basis utilising a mining contractor. The material movement rate in the new LoM 2030 is variable over the mining schedule and therefore a mining contractor with the ability to mobilise and demobilise additional equipment and personnel offers advantages over an ownermining alternative. Mining benches are all 10m high and haul roads have a maximum gradient of 10%. All mined material requires drilling and blasting, utilising blast holes with a diameter of 200mm and applying variable powder factors according to rock hardness.


Crushing and Grinding
Source: Source p.33


Processing

  • Flotation

Source: Source p.33

Summary:

The processing plant reflects a typical copper flotation plant. The crushing plant comprises two jaw crushers in parallel and two Abon Sizers in each line. Crushed product is conveyed to a two-stage grinding circuit consisting of a Semi Autogenous Grind (SAG) mill and a ball mill, in closed circuit with cyclone cluster for classification. Cyclone overflow represents the final milled product and feeds the flotation plant. The rougher flotation produces a bulk concentrate and final tails, which is then reground and sent to cleaner flotation. The cleaner tails go to scavenger flotation, while the concentrate, with a grade of over 20% copper, goes to the next process.

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, Germany and Bulgaria. The thickened rougher flotation tails and the tails from the cleaner-scavenger flotation are sent by gravity to the TSF.

Recoveries & Grades:

CommodityParameter201920182017201620152014
Gold Recovery Rate, % 6668.170.467.571.968
Gold Head Grade, g/t 1.151.071.081.031.071.08
Copper Recovery Rate, % 89888986.686.185.5
Copper Head Grade, % 0.550.570.520.530.520.56

Production:

CommodityProductUnits202020192018201720162015
Gold Metal in concentrate koz 158 ^156150159150159
Copper Metal in concentrate M lbs 60 ^6871666864
Gold Equivalent Metal in concentrate koz 275 ^2933140.3270296
Copper Concentrate kt 152159153156145
^ Guidance / Forecast.

Operational Metrics:

Metrics201920182017201620152014
Total tonnes mined 22,341 kt21,776 kt15,744 kt14,452 kt12,962 kt13,603 kt
Ore tonnes mined 8,024 kt6,854 kt7,085 kt7,061 kt6,842 kt7,032 kt
Waste 14,317 kt14,922 kt8,659 kt7,391 kt6,120 kt6,571 kt
Tonnes milled 6,718 kt6,644 kt6,796 kt6,977 kt6,710 kt6,797 kt
Stripping / waste ratio 1.8 2.2 1.2 1 0.9 0.9
Plant annual capacity 6.7 Mt6.9 Mt6.7 Mt6.7 Mt6.7 Mt

Reserves at December 31, 2019:

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Stockpiles 5,288 kt Gold 0.72 g/t 122 koz
Proven In-Situ (OP) 57,888 kt Gold 0.67 g/t 1,253 koz
Proven Stockpiles 5,288 kt Copper 0.3 % 35 M lbs
Proven In-Situ (OP) 57,888 kt Copper 0.4 % 507 M lbs
Probable In-Situ (OP) 10,347 kt Gold 0.54 g/t 178 koz
Probable In-Situ (OP) 10,347 kt Copper 0.34 % 77 M lbs
Proven & Probable Total 73,523 kt Gold 0.66 g/t 1,553 koz
Proven & Probable Total 73,523 kt Copper 0.38 % 619 M lbs
Measured Stockpiles 7,361 kt Gold 0.87 g/t 206 koz
Measured In-Situ (OP) 81,777 kt Gold 0.61 g/t 1,609 koz
Measured Stockpiles 5,288 kt Copper 0.3 % 35 M lbs
Measured In-Situ (OP) 81,777 kt Copper 0.37 % 676 M lbs
Indicated In-Situ (OP) 23,575 kt Gold 0.49 g/t 372 koz
Indicated In-Situ (OP) 23,575 kt Copper 0.31 % 163 M lbs
Inferred In-Situ (OP) 1,865 kt Gold 0.43 g/t 26 koz
Inferred In-Situ (OP) 1,865 kt Copper 0.31 % 13 M lbs
Total Resource Total 114,579 kt Gold 0.6 g/t 2,213 koz
Total Resource Total 112,506 kt Copper 0.36 % 886 M lbs

Commodity Production Costs:

CommodityUnits2020201920182017201620152014
All-in sustaining costs (sold) Gold USD 472 / oz† 282 / oz† 203 / oz† 499 / oz† 718 / oz† 316 / oz†
All-in costs Gold USD 575 / oz ^† 472 / oz† 282 / oz† 203 / oz† 499 / oz† 718 / oz† 316 / oz†
^ Guidance / Forecast.
† Net of By-Product.

Financials:

Units2020201920182017201620152014
Capital expenditures (planned) M USD 55  
Capital expenditures M USD 56.1  33  34  42.8   64.8   51  
Sustaining costs M USD 33  34  42.8   64.8   51  
Revenue M USD 399  351  392.9  322.3   292.2   375.5  
After-tax Income M USD 83.1  42.6  97.4  -73.1   -93.4   66.5  


Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
Engineering Manager Ricardo Caycho LinkedIn May 30, 2020
Metallurgical Superintendent Hyder Mamani LinkedIn May 30, 2020
Mine Manager Jose Luis Mazzerini Carbajal LinkedIn May 30, 2020
Mine Superintendent Rafael Guerrero Valqui LinkedIn May 30, 2020
Process Manager Pedro Paucar LinkedIn May 30, 2020
VP Operations Ronald Diaz Vásquez LinkedIn May 30, 2020


Corporate Filings & Presentations:

DocumentYear
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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