- The South African subsidiary submitted an application for a 1,000 hectare concession in Ayacucho, while continuing with projects in other regions of the country and advancing its operations in Chile.
Gold Fields La Cima, a subsidiary of the South African company Gold Fields and operator of the Cerro Corona mine in Cajamarca, began efforts to expand its operations in southern Peru. The company submitted an application to the Geological, Mining and Metallurgical Institute (Ingemmet) to obtain a mining concession of 1,000 hectares in the Ayacucho region, specifically in the district of Pullo, province of Parinacochas.
The application, presented at the beginning of the year, is a first step towards future exploration and exploitation of mineral resources in the area. This strategic move adds to the exploration projects that Gold Fields has in other parts of the country, including Moquegua in the south and Cajamarca and Áncash in the north.
Goals
It should be noted that Cerro Corona, the only Gold Fields mine that produces both gold and copper, began operations in 2008 with an estimated useful life until 2023, which has been extended until 2025, with intentions to extend it until 2030.
Likewise, in August 2023, Jorge Redhead, Vice President of Finance of Gold Fields for the Americas Region, informed the newspaper Gestión that Cerro Corona planned to produce around 255,000 ounces of gold equivalent that year. He highlighted the strength and profitability of the mine, which produced approximately 260,000 gold equivalent ounces in 2022.
Redhead also mentioned that the company is in the final stage of obtaining permits to extend the useful life of Cerro Corona, expecting them to be issued in the second half of 2024. A significant challenge is space for the tailings dam, so it was decided use the pit for this purpose starting in 2026, with an estimated investment between US$10 million and US$20 million.
Regarding its international projects, Redhead highlighted the progress of the Salares project in Chile, which is close to 96% of its construction and is expected to begin production in the last quarter. This initiative, with an investment of US$1,020 million, focuses on the extraction of gold and silver.
Finally, Redhead pointed out that in Peru it is difficult to find exclusively gold mines. Therefore, Gold Fields is willing to operate mines that contain at least 30% gold, complemented by other metals, demonstrating flexibility in its mining operations.
