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The Outstanding
Mineral Endowment
of the Central Andes
(Peru-Chile)
Miguel CardozoAlturas Minerals Corp - CP Group S.A.C
José CabelloMineralium
Top Mining
Perumin 2015 , Arequipa
Central Andes: Perú - Chile (north & central)
4.000 km length
300 km average width
1.740.000 km2 area
45 Million inhabitants
US$ 461 billion PBI
US$ 55 billion mining PBI� Highlights of a regional
US$ 55 billion mining PBI
12% of PBI from mining
� Highlights of a regional
approach rather than a
country by country
analysis
� Mineral endowment of
the Central Andes has a
significant geopolitical
importance
Metal
Commodities
Production
(t)
Production Value
(Mill US$)
World prod.
(%)
World
ranking
Copper 7,151,641 35,937 39 1
Gold 203 7,342 7 5
Zinc 1,381,032 2,449 10 3
Silver 4,848 2,202 19 1
Molybdenum 56,855 1,535 21 3
Tin 23,668 385 1 2
Metals – Yearly Production
Tin 23,668 385 1 2
Lead 228,671 384 4 4
TOTAL PRODUCTION 50,234 17
• Copper is largely the main commodity followed by gold
• In a not distant future, the region could exceed the 50% of world’s copper output
• Polymetallic nature of the Central Andes allows convenient diversification of risk
Source:
Others
Commodities
Production
(t)
Production Value
(Mill US$)
World prod
(%)
World
ranking
Rhenium 27 81 54 1
Diatomite 151,999 46 7 4
Arsenic 10,000 7 27 3
Indium 10 7 1 9
Other commodities – Yearly Production
Selenium 110 6 5 8
Cadmium 695 1 3 3
Mercury 19,325 1 1 4
Total Production 149 8
• Other commodities are also produced and the region produces 8% of
the total world’s output of this commodities
Source:
Industrial
Minerals
Production
(t)
Production Value
(Mill US$)
World prod.
(%)
World
Ranking
Phosphates 14,857,263 1,337 6 5
Iodine 20,656,000 785 63 1
Potassium 1,158,403 846 3 7
Borates 806,528 508 15 3
Lithium 60,646 400 36 2
Industrial Minerals – Yearly Production
Lithium 60,646 400 36 2
Salt 6,576,960 362 2 8
Nitrates 759,000 200 100 1
Total Production 4,438 6
• Largest world producers of iodine, lithium and nitrates
• The region produces 6% of the industry minerals in the world
revisar nitratosSource:
Mining Value Prod
(Mill US$)
Percentage Total
(%)
Metals 50,234 91.6
Industrial Minerals 4,438 8.1
Other 149 0.3
Peru-Chile Central Andes
Mining Value Production Summary
Other 149 0.3
Total (US $ Mill) 54,821
• The bulk of the mining production comes from metals
• Industrial minerals represent a small percentage of the mineral production
reflecting the still incipient industrial development of the region
Source:
The Peruvian Chilean Andes today
• The topographic expression of the Peruvian-Chilean Andes shows an
intrincate structure that is the result of the interaction of a complex
basement history with active subduction and changing geometry
through time.through time.
• As a result ,different subordinated segments have been recognized,
with distinctive characteristics.
QuechuaPhases
Incaic Phases
Peruvian Phose
Mochica Phose
QUATERNARY
TERTIARY
CRETACEDUS
JURASSIC
TRIASSIC
PLIOCENE
MIOCENE
OLIGOCENE
PALEOCENE
UPPER
LOWER
MALM
DOGGER
LIAS
UPPER
LOWER
EOCENE
0
50
100
150
200
Volcanic
Limestone
Coarse clastic
Fine clastic
A thick, mainly late
Pz–Up.K, marine
sed.-volc. sequence.
Followed by a
terrestrial clasticLate HercynianPhoss
Early HercynianPhase
COSTAWESTERN
CORDILLERAALTIPLANO
EASTERN
CORDILLERA
SUBANDEAN
REGION
PERMIAN
CARBONI-
FEROUS
DEVONIAN
SILURIAN
ORDOVICIAN
CAMBRIAN
PRE - CAMBRIAN
PENNSYL-VANIAN
MISSISSIP-PIAN
0 100 200 300 km
250
300
350
400
450
500
550
600
2000
Intense, episodic
magmatism occurred
in the Cordilleran
region. Intrusives range
from deep batholithic
to subvolcanic settings
Source:
M. Cardozo, PDAC 2013
terrestrial clastic
sequence and intense
sub-aereal volcanism
QuechuaPhases
Incaic Phases
Peruvian Phose
Mochica Phose
QUATERNARY
TERTIARY
CRETACEDUS
JURASSIC
TRIASSIC
PERMIAN
PLIOCENE
MIOCENE
OLIGOCENE
PALEOCENE
UPPER
LOWER
MALM
DOGGER
LIAS
UPPER
LOWER
EOCENE
0
50
100
150
200
Cu Skarn
Cu-Zn VMS
Cu Porphyry
Cu-Au Porphyry
MVT
Peruvian Andean
Metallogenesis
Cu VMS
IOCG
Late HercynianPhoss
Early HercynianPhase
COSTAWESTERN
CORDILLERAALTIPLANO
EASTERN
CORDILLERA
SUBANDEAN
REGION
PERMIAN
CARBONI-
FEROUS
DEVONIAN
SILURIAN
ORDOVICIAN
CAMBRIAN
PRE - CAMBRIAN
PENNSYL-VANIAN
MISSISSIP-PIAN
0 100 200 300 km
250
300
350
400
450
500
550
600
2000
Cu-Zn Skarn
Cu Skarn
Polymet Replac.
Polymet Veins
Mesothermal Au
Epithermal
Geological
diversity
Source:
M. Cardozo, PDAC 2013
QuechuaPhases
Incaic Phases
Peruvian Phose
Mochica Phose
QUATERNARY
TERTIARY
CRETACEDUS
JURASSIC
TRIASSIC
PERMIAN
PLIOCENE
MIOCENE
OLIGOCENE
PALEOCENE
UPPER
LOWER
MALM
DOGGER
LIAS
UPPER
LOWER
EOCENE
0
50
100
150
200
Iron.
Copper
Copper-Gold
Zinc
Polymetallic
Copper-Zinc
Peruvian Andean
Commodity Base
Late HercynianPhoss
Early HercynianPhase
COSTAWESTERN
CORDILLERAALTIPLANO
EASTERN
CORDILLERA
SUBANDEAN
REGION
PERMIAN
CARBONI-
FEROUS
DEVONIAN
SILURIAN
ORDOVICIAN
CAMBRIAN
PRE - CAMBRIAN
PENNSYL-VANIAN
MISSISSIP-PIAN
0 100 200 300 km
250
300
350
400
450
500
550
600
2000
Polymetallic
Tin + Other
Tungsten + Other
Gold-Silver
Polymetallic
Endownment
Source:
M. Cardozo, PDAC 2013
Porphyry systems
Base of lithocap
High-sulfidation Au-Cu
Intermediate sulfidation
Au-Ag (Pb-Zn)
Distal Pb-Zn
Sillitoe, 2010
Economic Geology
Porphyry Cu-Au Proximal Cu-
Au skarn
Pb-Zn skarn
Replacement Zn-Pb-Ag
THIS GEOLOGICAL
FRAMEWORK EXPLAINS
OVER 85% OF THE
MINERAL PRODUCTION
OF PERU
Central Andes (Perú-Chile) Ore Models (17)Deposit Types Relevant Examples
Peru Chile
MVT San Vicente
VMS Tambogrande, Cerro Lindo
Porphyry Cu Toquepala Chuquicamata
Porphyry Au Cerro Corona Marte-Lobo
Porphyry Mo Pashpap Copaquire
Epithermal HS Yanacocha El Indio
Epithermal LS Ares, Antapite El Peñon
Epithermal IS Arcata, OrcopampaEpithermal IS Arcata, Orcopampa
IOCG Mina Justa Candelaria
Polymetallic Replacement Cerro de Pasco
Tin veins San Rafael
Skarn Tintaya, Antamina
Manto type Cu-Ag Arqueros
Mesothermal Au veins Pataz and Nazca-Ocoña districs
W veins Pasto Bueno
Li rich brines Salar de Atacama
Nitrate fields Oficina Victoria
revisar
Metal
Commodities
Production
% of world’s total
Resources
% of world’s total
Copper 40 40
Gold 7 11
Zinc 10 13
Production and Resources of the Central Andes
Metals
Zinc 10 13
Silver 19 33
Molybdenum 21 20
Tin 10 2
Lead 5 8
Source: USGS, 2015
Other
Commodities
Production
% of World’s total
Resources
% of World’s totalRhenium 54 52
Diatomite 7 -
Arsenic 27 -
Production and Resources of the Central Andes
Other commodities
Arsenic 27 -
Indium 1 -
Selenium 5 32
Cadmium 3
Mercury 1 3
Source: USGS, 2015
Industrial
Minerals
Production
% of world’s total
Resources
% of world’s total
Phosphates 6 1
Iodine 66 24
Potassium 3 52
Production and Resources of the Central Andes
Industrial Minerals
Potassium 3 52
Borates 15 17
Lithium 36 55
Salt 2 3
Nitrates 100 100Revisar
nitratosSource: USGS, 2015
Peru and Chile received 12% of 2014 Exploration
Investment: US$ 1,368 Mill
20
Chile
Peru
Source: (SNL Metals & Mining)
45% of 2014 Exploration Investment directed
to Latin America
25%
6%Colombia
Mexico
22
Chile 25%
Peru 20% 11%Brasil
Source: (SNL Metals & Mining)
Production and Resources of the Central Andes
Number of
Projects
Investment
US$Mill
Production
Fine Cu (t)
PERU 29 39,000 3,700,000
CHILE 30 74,000 5,200,000
Total 59 11,3000 8,900,000
Source: USGS, 2015Source: USGS, 2015
Number of
Projects
Investment
US$Mill
Production
Fine Au (t)
PERU 4 5,400 29
CHILE 10 17,000 103
Future Investment in Gold Projects
(2015-2023)
CHILE 10 17,000 103
Total 22,400 132
Source: USGS, 2015
Investment
US$ billion
Share
(%)
Canada 117 15
Australia 100 13
Russia 74 9
Chile 69 9
Brazil 57 7
Peru 49 6
United States 45 6
South Africa
Mining Project Investment by Country, 2013
Source: E&MJ’s Annual Survey of Global
Metal Mining Investment -2014
South Africa 25 3
Mexico 18 2
The Philippines 17 2
TOTAL 571 72
Chile - Peru 118 15
• In 2013, Chile and Peru together account for the largest mining project
investment of the world with US$118 million, more than the planned
investment in Canada and Australia
MAIN DISCOVERIES
(1995-2014)
PERU CHILEMinas Conga (Au, Cu) Spence (Cu, Mo)
Pierina (Au) Gabriela Mistral (Cu, Mo)
Rio Blanco (Cu, Mo) Pascua Lama (Au)
Antapaccay (Cu,Mo) Caserones (Cu, Mo)
Las Chancas (Cu, Mo) Toki (Cu, Mo)
Alto Chicama (Au) El Volcan (Au)Alto Chicama (Au) El Volcan (Au)
Mina Justa (Cu, Au) Caspiche (Au)
Tia Maria (Cu, Mo) Encuentro
Haquira (Cu, Mo) Pampa Escondida
El Galeno (Cu, Mo) Sulfatos (Cu, Mo)
• In 2013, Chile and Peru together account for the largest mining project
investment of the world with US$118 million, more than the planned
investment in Canada and Australia
CONCLUDING REMARKS
• In spite of the current somehow depressed metals market it can be
predicted that the Perú-Chile Central Andes will remain as one of the most
important regions regarding mining ,development and exploration activities
for the foreseeable future.
• Investments will continue to materialize into the region stimulated by the
tremendous success of past mining and exploration achievements.
• Viewed in perspective, these mining, development and exploration
activities have generated significant increase in the Central Andes mineral
resources as well as in production levels with a substantial to the economic resources as well as in production levels with a substantial to the economic
development of Peru and Chile and the creation of new jobs.
• It has also improved technological and service capabilities, as well as the
related infrastructure (access roads, metallurgical plants, smelters, port
facilities and so forth).
• The region appeal is based on several factors: excellent geological
prospectivity, size and grade of deposits still attractive even in critical metals
and minerals price cycles, balanced environmental laws coupled with
gradually improving infrastructure conditions and adequate political-
economic stability despite of increasing internal social and political noisse.
CONCLUDING REMARKS
• The region appeal is based on several factors: excellent geological prospectivity, size and grade of deposits viable with critical metals and minerals price deposits viable with critical metals and minerals price cycles, balanced environmental laws coupled with gradually improving infrastructure conditions and adequate political-economic stability.
CONCLUDING REMARKS
• As copper prices remain broadly stable or improve, it can be expected that the region discovery record over the next decade will be important at a global scale. the next decade will be important at a global scale.
• And the already discovered resources will remain as one of the key elements affecting worldwide mineral production rates and price.
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