The project Michiquillaylocated in the region of Cajamarcais emerging as one of the most promising mining initiatives in the country. Since Southern Peru Copper Corporation – Branch of Peru He signed the acquisition contract in June 2018, the company has focused its efforts on converting this site into a world -class operation.
It is estimated that Michiquillay It has lower mineral resources of 2,288 million tonswith an estimated mineral law of 0.43%. These volumes place it among the projects with the greatest potential in the continent. According to the company’s projections, once developed, the deposit will produce approximately 225,000 tons of copper per yearin addition to by -products such as molybdenum, gold and silver. The initial useful life of the mine will exceed the 25 yearswith a competitive cash cost compared to other copper producers globally.
To achieve these objectives, an approximate investment of 2,500 million dollarsfigure that reflects the size of the project. The company aims to start production towards the year 2032in line with detailed and technically solid planning.
In addition to the economic impact nationwide, Michiquillay It will become an important development engine for Cajamarca. The creation of thousands of direct and indirect jobs is expected, as well as the generation of new business opportunities for local suppliers. “Michiquillay will represent a structural change in the regional economy, raising employment levels, private investment and tax collection”the company said in its quarterly report.
Likewise, the operation will contribute with the payment of taxes and royalties that will benefit both the local and regional and national government, contributing to greater decentralization of the benefits of mining activity in the country.
Al March 31, 2025the total advance of the exploration project reached the 39%a significant figure that reflects the company’s sustained commitment to the development of Michiquillay. Until that date, the company has drilled 145,928 metrosof a total program that contemplates 148,000 metrosand has collected 47,990 Witness samples For chemical analysis. These studies are fundamental to accurately characterize mineralization and confirm the economic potential of the deposit.
Diamantine drilling will continue in the coming months and will provide key information for the interpretation of geological sections, geological modeling and the evaluation of mineral resources. This stage is crucial to build a robust geological model that allows informed decisions about the design of the mine and the planning of its future exploitation.
At the same time, geometallurgical studies are developed oriented to understanding the physical and chemical properties of the mineral, which is essential to select the most appropriate processing methods. Hydrological and hydrogeological studies are also ongoing, focused on evaluating the availability and behavior of water resource in the area, an essential aspect to ensure environmentally sustainable operation.
The geotechnical study, necessary to define the conditions of the land and the stability of the mining structures, is scheduled to begin shortly. This analysis will allow optimizing the design of the facilities and guaranteeing the security of the long -term operation.
In addition, the company has been strengthening its relationship with surrounding communities through social development and open dialogue programs. These actions seek to build mutual trust and ensure that the benefits of the project translate into concrete improvements in life for local populations.
