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PRODUCTION OF GOLD AND SILVER IN PERU: PAST, PRESENT
AND FUTURE
PROGRAMA DE METALOGENIA
DIRECCIÓN DE RECURSOS MINERALES Y ENERGÉTICOS
Lima, Peru May, 2014
Jorge ACOSTA, Alexander SANTISTEBAN, Dina HUANACUNI,
Michael VALENCIA & Eder VILLARREAL
Content
• Resume of past production of gold an silver in Peru: Inca Empyre, Colony and Republic Eras (c. XV to XIX).
• Statistical facts.
• Peruvian gold & silver belts.
• Deposit types and metal contents in the main metallogenic belts.
• The gold and silver endowment in Peru.
GOLD
The Inca Empire or Tawuantinsuyo
Sandia
Puno
Vilcabamba
Caylloma
Castrovirreyna
Hualgayoc
Contumazá
Cajabamba
Colquijirca
1. Hohagen, J. 1937. El Oro en el Perú en 1936. Boletín No 118 del Cuerpo de Ingenieros de Minas del Perú. Lima 1937
5.5 Moz Au1 Before to 1532
Pre-Inca & Inca Stage:
Colony Stage : 1533-1821
4.8 Moz Au1,2
289 years 17,000 oz/year
1. Hohagen, J. 1937. El Oro en el Perú en 1936. Boletín No 118 del Cuerpo de Ingenieros de Minas del Perú. Lima 1937. 2. Boggio, M.1997. El Oro en el Perú. El Perú MineroTomo VII. Pag. 251-254
Santa Barbara-1566 Vilcanota
Camaná
Ichuña
Potosí
Porco
Huantajaya
Caylloma-1590
Recuay
Sarapuyo
Huaylas
Hualgayoc-1771
Colquijirca
Pasco-1670
Vilcabamba Castrovirreyna 1591
Sandia
Chuquibamba
Corcullo
Coporaque Sandia
Vilquechico
Huanuco Llata
Parcoy Salpo
Chirinos-Peca Jaen
Huanu Huanu
Republic Stage : 1821-1900
1. Boggio, M.1997. El Oro en el Perú. El Perú MineroTomo VII. Pag. 251-254
103
241
193
121
141
92
52
215
0
50
100
150
200
250
300
1821 - 1830 1831 - 1840 1841 - 1850 1851-1860 1861-1870 1871-1880 1881-1890 1891-1900
On
ces
of
Fin
e G
old
x 1
00
0
1.2 Moz Au 1
80 years 15,000 Oz/year
Santa Barbara-1566 Vilcanota
Camaná
Ichuña
Huantajaya
Caylloma-1590
Recuay
Sarapuyo
Huaylas
Hualgayoc - 1771
Colquijirca
Pasco-1670
Vilcabamba Castrovirreyna 1591
Republic Stage : 1901-1990
0.3
0.5
1.0
1.7 1.8
2.2
1.1 1.1
2.8
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Mill
ion
On
ces
of
Fin
e G
old
12.6 Moz Au 1,2
90 years 140,000 Oz/year
1. Ministerio de Fomento. Dirección de Energía de Minas y Petróleo. Anuarios 1900-1968. 2. Ministerio de Energía y Minas del Perú. Anuarios Mineros 1969 – 2013.
Orcopampa
Caravelí
Quiruvilca Retamas
La Poderosa
Orión
Parcoy
Callpa
Ocoña Minas
Sn Luis Gold
Sn Jn Chorunga
Buldibuyo
Julcani
Sn Antonio de Poto Sn Jn Lucanas
Pasco-1670 Colquijirca
Hualgayoc
M.D.D.
Republic Stage : 1991-2013
0.7 0.8 1.0
1.5 1.9
2.1
2.5
3.0
4.1 4.3 4.5
5.1
5.5 5.6
6.7 6.5
5.5
5.9 5.9
5.3 5.3 5.2
4.9
0
1
2
3
4
5
6
7
8
Mil
lio
n O
nce
s o
f F
ine
Go
ld
93.7 Moz Au 1,2
23 years 4 Moz/year
1. Ministerio de Fomento. Dirección de Energía de Minas y Petróleo. Anuarios 1900-1968. 2. Ministerio de Energía y Minas del Perú. Anuarios Mineros 1969 – 2013.
Orcopampa
La Arena
Laytaruma
Breapampa
Orión
Corihuarmi
Arasi
Yanacocha
Tukari
Retamas
M.D.D.
La Zanja Cerro Corona
Alto Chicama
Tantahuatay
Anabí Pallancata
Antapaccay
La Poderosa
Veta Dorada
Minera Paraiso
Santa Rosa Pierina
Parcoy Sipan
Callpa
Ocoña Minas
Sn Jn Chorunga
Caravelí
Selene Julcani
Pasco-1670 Colquijirca
Ares
Arcata
Pucamarca
Statical Facts
World Gold Production 1980-2012
1.8
2.8
4.3 4.8
6.3
8.7
11.1 11.6 11.9
0.17 0.27 0.90
2.68
4.98
6.08 5.28 5.34 5.19
43.1
55.8
71.6
77.4
83.5
75.8
82.3 85.6 85.4
0
20
40
60
80
100
0
5
10
15
20
25
1980 1985 1990 1995 2000 2005 2010 2011 2012
Mill
ion
On
ces
of
Fin
e G
old
China Australia United States Russia South Africa
Peru Indonesia Canada Uzbekistan Ghana
Mexico New Guinea Brazil Others World Production
Gold Mines in Peru - 2013
4.8 Moz
1. Ministerio de Fomento. Dirección de Energía de Minas y Petróleo. Anuarios 1900-1968. 2. Ministerio de Energía y Minas del Perú. Anuarios Mineros 1969 – 2013.
< 100
100-500
500-1000
> 1000
Annual Production Onces of Fine Gold
X 1000
Mines
Orcopampa
La Arena
Laytaruma
Breapampa
Caravelí
Corihuarmi
Arasi
Yanacocha
Tukari
Retamas
M.D.D.
La Zanja Cerro Corona
Alto Chicama
Tantahuatay
Anabí
Pallancata
Antapaccay
La Poderosa
Veta Dorada
Minera Paraiso
Santa Rosa
Pierina
Parcoy
0
200
400
600
800
1,000
1,200
On
ces
of
Fin
e G
old
x1
00
0
Future Gold Producers in Peru
0
100
200
300
400
500
600
700
On
ces
of
Fin
e G
old
x1
00
0
< 100
100-200
400-200
> 400
Annual Production Onces of Fine Gold
X 1000
Projects
Minas Conga (2017)
Chucapaca (2016)
Inmaculada (2014)
Ollachea (2015)
Invicta (2015)
Shahuindo (2014)
El Galeno (2015)
San Luis (2017)
Las Bambas (2014)
Constancia (2015) Anama
(2014)
Haquira (2019)
Los Chancas (2017)
Zafranal (2019)
Cañariaco (2019)
La Granja (2017)
Michiquillay (2019)
0
200
400
600
800
1,000
1,200
On
ces
of
Fin
e G
old
x 1
00
0
Mines and Future Gold Producers in Peru
Minas Conga (2017)
Chucapaca (2016)
Inmaculada (2014)
Ollachea (2015)
Invicta (2015)
Shahuindo (2014)
El Galeno (2015)
San Luis (2017)
Las Bambas (2014) Constancia
(2015) Anama (2014)
Haquira (2019)
Los Chancas (2017)
Zafranal (2019)
Cañariaco (2019) La Granja (2017)
Michiquillay (2019)
La Arena
Caravelí
Corihuarmi
Yanacocha
M.D.D.
Alto Chicama Santa Rosa
Pierina
Parcoy
Mines Projects Actual or Planned Annual Production Onces of Fine
Gold X 1000
< 100
100-400
400-600
> 600
Peruvian Gold Belts
Main Gold Belts, Mines and Projects in Peru
Mines Projects
Metallogenic belts
Miocene epithermal belt
Upper Cretaceous intrusion-related gold belt
Carboniferous-Permian orogenic gold belt
Actual or Planned Annual Production Onces of Fine
Gold X 1000
0
< 100
100-400
400-600
> 600
Main Gold Belts, Mines and Projects in Peru
Mines Projects
Metallogenic belts
Miocene epithermal belt
Upper Cretaceous intrusion-related gold belt
Carboniferous-Permian orogenic gold belt
Actual or Planned Annual Production Onces of Fine
Gold X 1000
0
< 100
100-400
400-600
> 600
Deposit Types
Porphyry
LS Epithermal (LSE)
IS Epithermal (ISE)
HS Epithermal (HSE)
Placer
Intrusion-related gold (IRG)
Orogenic gold (OG)
Skarn
ISE 0.3-9 g/t Au
OG 7-12 g/t Au
IRG 6-32 g/t Au
LSE 1.3-17 g/t Au
HSE 0.2-2 g/t Au
Porphyry 0.04-1.4 g/t Au
0
1
2
3
4
5
6
7
8
Mill
ion
On
ces
of
Fin
e G
old
HS Epithermal
IS Epithermal
LS Epitermal
Porphyry
Skarn
Orogenic gold
Intrusive-related gold
Alluvial gold
Others
Peruvian Gold Production by Deposit Types
6.7
Historic Cumulative Gold Production in Peru
Million Onces of Fine Gold
Total Production in Peru
118 Moz (100%) Production from main gold belts
99 Moz (84%)
Other Au belts: 4 Moz (3%) Other non-Au belts: 15 Moz (13%)
Metallogenic belts
Miocene epithermal belt
Upper Cretaceous intrusion-related gold belt
Carboniferous-Permian orogenic gold belt
< 1
5-1
30-5
> 30
Alto Chicama >10 Moz
Pierina >5 Moz
Yanacocha 34 Moz
Parcoy, Retamas & Poderosa
~3 Moz
Arasi > 0.5 Moz
Tukari & Santa Rosa < 1 Moz
Orcopampa Laytaruma ~ 1Moz
Santa Rosa >2 Moz
Sn Jn Chorunga ~1 Moz
MDD > 9 Moz
17 Moz 14%
8 Moz 7%
74 Moz 63% 11 Moz
10%
0
1
2
3
4
5
6
7
8
Mill
ion
On
ces
of
Fin
e G
old
HS Epithermal
IS Epithermal
LS Epitermal
Skarn
Porphyry
Orogenic gold
Intrusive-related gold
Alluvial gold
Others
Peruvian Gold Production 1990-2025
actual forecast Chucapaca
Anana Inmaculada Las Bambas Constancia
San Luis Minas Conga
La Granja El Galeno Zafranal 6.7
5.5 5.1
5.4
5.7
6.5
Invicta Ollaechea Haquira
Los Chancas
6.3 5.9
Cañariaco Michiquillay
Haquira
Gold Resources and Reserves in the Main Belts in Peru
Total reported resources in Peru
192 Moz (100%) Resources from gold belts
130 Moz (67%) Other Au belts 53 MMT (28%)
Other non-Cu belts 9 MMT (5%)
10 Moz 5%
2 Moz 1%
118 Moz 61%
36 Moz 19%
17 Moz 9%
Mines Projects Millions Onces of Fine Gold X 1000
< 2
2-4
4-10
> 10
Metallogenic belts
Miocene epithermal belt
Upper Cretaceous intrusion-related gold belt
Carboniferous-Permian orogenic gold belt
Eocene-Oligocene porphyry belt
Main Gold Deposits with Resources and Reserves in Peru(> 1 Moz)
0
5
10
15
20
25
30
35
40
45
50
Mill
ion
On
ces
of
Fin
e G
old
Mines Projects Millions Onces of Fine Gold X 1000
< 1
1-2
2-4
4-10
> 10
Minas Conga (2017)
Chucapaca (2016)
Inmaculada (2014)
Ollachea (2015)
Invicta (2015)
Shahuindo (2014)
El Galeno (2015)
San Luis (2017)
Las Bambas (2014)
Constancia (2015) Anama
(2014)
Haquira (2019)
Los Chancas (2017)
Zafranal (2019)
Cañariaco (2019)
La Granja (2017)
Michiquillay (2019)
Tambogrande
SILVER
Colony Stage : 1531-1820
Castrovirreyna-1591
Santa Barbara-1566 Vilcanota
Camaná
Ichuña
Potosí-1545
Porco
Huantajaya
Caylloma-1590
Colquijirca
Recuay
Sarapuyo
Huaylas
Hualgayoc-1771
Laycacota-1619
Pasco-1670
Chucuito-1679
Yauli-Morococha -1593
Oruro-1609
Carangas-1652
La Paz-1655
Jauja-1730
Lucanas y Parinacochas-1630
Vilcabamba
1. Boggio, M.1997. El Oro en el Perú. El Perú MineroTomo VII. Pag. 251-254
(tomado de Jeffrey A., 1985: “The Potosí mita, 1573-1700: compulsory Indian labor in the Andes”)
1,150 Moz Ag 1
290 years ~4 Moz/year
4
10
21 17
25
85 86
58 59 57
69 67
46
38 38
45 39
29
22 23 26
32
40 46
41
24
38 37
30
18
0
10
20
30
40
50
60
70
80
90
100
Mill
ion
On
ces
of
Fin
e Si
lver
Republic Stage : 1821-1900
1. Boggio, M.1997. El Oro en el perú. El Perú MineroTomo VII. Pag. 251-254
17
29 33
25 26
21
25
51
0
10
20
30
40
50
60
Mill
ion
On
ces
of
Fin
e Si
lver
228 Moz Ag 1
80 years ~3 Moz/year
Emancipación (1821 - 1824)
Ferrocarril 1870 Coporaque
Castrovirreyna
Lircay Ayacucho
Paucarbamba Luricocha
Curahuasi
San Juan
Caylloma Orcopampa
Ayapata
Juli
Yauly
C° Pasco Churin
Yanacancha Chiquian
Huallanca
Balzas
Hualgayoc
Ayavaca
Puno Chuquibamba
Lampa
Republic Stage : 1901-1990
2,157 Moz Ag 1,2
90 years ~24 Moz/year
1. Ministerio de Fomento. Dirección de Energía de Minas y Petróleo. Anuarios 1900-1968. 2. Ministerio de Energía y Minas del Perú. Anuarios Mineros 1969 – 2013.
Lampa
Quiruvilca
Sn Jn Lucanas
Uchucchacua
Arcata
Caylloma
San Genaro Casapalca
Cuajone+Toquepala
Cerro de Pasco Raura
Yauricocha
San Cristobal
Balzas
Selene
Huaron
Milpo-Atacocha
Colquijirca
Julcani
Orcopampa
Cobriza
Raul-Condestable Castrovirreyna
Ayacucho
Paucarbamba
Huallanca
Hualgayoc
Chuquibamba 61
98
181 147 131
217
354 393
575
0
100
200
300
400
500
600
700
Mill
ion
On
ces
of
Fin
e Si
lver
Republic Stage : 1991-2013
1. Ministerio de Fomento. Dirección de Energía de Minas y Petróleo. Anuarios 1900-1968. 2. Ministerio de Energía y Minas del Perú. Anuarios Mineros 1969 – 2013.
2,030 Moz Ag 1,2
22 years 92 Moz/year
62
54 54 57
62 64 67 65
72 78
83
92 94 98
103
112 113 119
126
117
110 112 118
0
20
40
60
80
100
120
140
Mill
ion
On
ces
of
Fin
e Si
lver
Ares
Quiruvilca
Antamina
Uchucchacua
Pallancata Arcata
Caylloma
San Genaro
Casapalca
Cuajone
Raura
Yauricocha
San Cristobal >80 Moz
Yanacocha 34 Moz
Selene
Huaron Milpo+Atacocha
Julcani
Orcopampa
Cobriza
Cerro de Pasco
Colquijirca
Cerro Lindo
Condestable
Arasi
Tukari
Sipan
La Zanja
Tantahuatay
La Arena
Alto Chicama
Santa Rosa Pierina
Tintaya
Toquepala
Statical Facts
56
70 72
79
85
102
142
133
162
41
51
58
65
89
114 117
110 111
375.5
448.0 480.3 496.6
607.2
679.0
764.2 749.4 787.0
0
100
200
300
400
500
600
700
800
900
0
20
40
60
80
100
120
140
160
180
1980 1985 1990 1995 2000 2005 2010 2011 2012
Mill
ion
On
ces
of
Fin
e S
ilve
r
Mexico China Peru Australia
Russia Bolivia Poland Chile
United States Canada Others World Production
World Silver Production 1980-2012
0
2
4
6
8
10
12
14
16
18
Mill
ion
On
ces
of
Fin
e S
ilve
r
< 5
5-10
10-15
> 15
Annual Production Million Onces of Fine Silver
Mines
Silver Mines in Peru - 2013
118 Moz
Quiruvilca
Antamina
Uchucchacua
Pallancata Arcata
Caylloma
Huaron
Cerro Lindo Casapalca
Colquijirca
Cuajone
Milpo, Atacocha
Toquepala
Mallay
Carahuacra
Santa Luisa
Morococha
Cobriza
Andaychagua
Cerro de Pasco
Julcani
Americana
Raura
Anticona Yauricocha
Animón
San Cristobal
4.2
3.5
2.7 2.7 2.7
2.0 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
Mill
ion
On
ces
of
Fin
e S
ilve
r Future Silver Producers in Peru
< 2
2-4
> 4
Annual Production Million Onces of Fine Silver
Projects
Shahuindo (2014)
San Luis (2017)
Inmaculada (2014)
Chucapaca (2016)
Corani (2015) Haquira (2015)
Constancia (2015)
Las Bambas (2014)
Quellaveco (2016)
Toromocho (2015)
El Galeno (2015)
Crespo (2015)
Alpamarca (2014)
Cañariaco (2019)
0
2
4
6
8
10
12
14
16
18
Mill
ion
On
ces
of
Fin
e S
ilve
r Mines and Future Silver
Producers in Peru
Shahuindo (2014)
San Luis (2017)
Inmaculada (2014)
Chucapaca (2016)
Corani (2015)
Haquira (2015)
Constancia (2015)
Las Bambas (2014)
Quellaveco (2016)
Toromocho (2015)
El Galeno (2015)
Crespo (2015)
Alpamarca (2014)
Cañariaco (2019)
Quiruvilca Antamina
Uchucchacua
Caylloma
Huaron
Cerro Lindo
Milpo, Atacocha
Toquepala
Mallay
Carahuacra Cobriza
Julcani
Americana
Raura
Anticona Yauricocha
Animón
< 2
2-10
10-15
> 15
Mines Projects Actual or Planned Annual Production Million Onces
of Fine Silver
Peruvian Silver Belts
Main Silver Belts, Mines and Projects in Peru
Mines Projects
Metallogenic belts
Miocene epithermal deposits belt
Miocene skarn, porphyry replacement & vein deposits belt
Actual or Planned Annual Production Onces of
Fine silver
0
< 100
100-400
400-600
> 600
Deposit types
Porphyry
LS Epithermal
IS Epithermal
HS Epithermal
Others
VMS
IOCG
Skarn, replacement & vein deposits
Shahuindo (2014)
San Luis (2017)
Inmaculada (2014)
Chucapaca (2016)
Corani (2015) Haquira (2015)
Constancia (2015)
Las Bambas (2014)
Quellaveco (2016)
Toromocho (2015)
El Galeno (2015)
Crespo (2015)
Alpamarca (2014)
Cañariaco (2019)
Antamina
Uchucchacua
Pallancata
Caylloma
Huaron
Cerro Lindo
Casapalca
Toquepala
Cobriza Julcani
Yauricocha
Main Silver Belts, Mines and Projects in Peru
Mines Projects
Metallogenic belts
Miocene epithermal deposits belt
Miocene skarn, porphyry replacement & vein deposits belt
Actual or Planned Annual Production Onces of
Fine silver
0
< 100
100-400
400-600
> 600
Deposit types
Porphyry
LS Epithermal (LSE)
IS Epithermal (ISE)
HS Epithermal (HSE)
Others
VMS
IOCG
Skarn, replacement & vein deposits (SRVD)
Raul-Condestable
SRVD 5.5-697 g/t Ag
Porphyry 1.2-5 g/t Ag
LSE 28-183 g/t Ag
HSE 1.6-159 g/t Ag
Porphyry 0.1-6.2 g/t Ag
ISE 7.5-582 g/t Ag
Peruvian Silver Production by Deposit Types
0
20
40
60
80
100
120
140
Mill
ion
On
ces
of
Fin
e S
ilve
r
HS EpithermalOrogenic GoldIS EpithermalLS EpithermalSkarn, replacement & vein depositsPorphyryIOCGVMS
Deposit types
Porphyry
LS Epithermal
IS Epithermal
HS Epithermal
Others
VMS
IOCG
Skarn, replacement & vein deposits
126
Historic Cumulative Silver Production in Peru
Million Onces of Fine Silver
Total Production in Peru
5,565 Moz (100%) Production from main silver belts
5,275 Moz (95%) Other non-Ag belts: 290 Moz (5%)
Metallogenic belts
Miocene epithermal belt
Miocene skarn, replacement & vein deposits
< 100
200-100
300-200
> 300
2551 Moz 46%
2,724 Moz 49%
Mines
Paleocene-Eocene porphyry belt
Ares >26 Moz Sn Jn Lucanas > 35 Moz
Quiruvilca 108 Moz
Antamina 148 Moz
Uchucchacua 181 Moz
Pallancata 47 Moz Arcata 173 Moz
Caylloma 166 Moz
San Genaro > 60Moz
Casapalca 198 Moz
Cuajone+Toquepala 96 Moz
Cerro de Pasco >355 Moz Raura >44Moz
Yauricocha > 70 Moz
San Cristobal >80 Moz
Hualgayoc 315 Moz
Yanacocha 34 Moz
Selene >17 Moz
Huaron 155 Moz
Milpo+Atacocha 222 Moz
Colquijirca 106 Moz
Julcani 101 Moz
Orcopampa > 70 Moz
Peruvian Silver Production 1986-2025
0
20
40
60
80
100
120
140
160
Mill
ion
On
ces
of
Fin
e S
ilve
r
HS EpithermalOrogenic GoldIS EpithermalLS Epithermal
Cañariaco
actual forecast Chucapaca Quellaveco
Corani Haquira
Toromocho
Shahuindo Inmaculada Las Bambas Constancia
San Luis El Galeno
126 130
139
144
148
118
137
Deposit types
Porphyry
LS Epithermal
IS Epithermal
HS Epithermal
Others
VMS
IOCG
Skarn, replacement & vein deposits
Silver Resources and Reserves in the Main Porphyry Belts in Peru
Total reported resources in Peru
7,012 Moz (100%) Resources from main silver belts
4,818 Moz (69%) Other Ag belts 1,526 Moz (22%)
Other non-Ag belts 668 Moz (9%)
1,694 Moz 24%
3,124 Moz 45%
407 6%
1,119 16%
Mines Projects Millions Onces of
Fine silver 0
< 100
300-100
> 300
Metallogenic belts
Miocene epithermal deposits belt
Eocene-Oligocene porphyry belt
Paleocene-Eocene porphyry belt
Miocene skarn, replacement & vein deposits
Main Silver Resources and Reserves in Peru (> 50 Moz)
0
100
200
300
400
500
600
700
800
Mill
ion
On
ces
of
Fin
e S
ilve
r
Mina Justa
Corani
Berenguela
Azuca
Santa Ana
Tambo Grande
Cañariaco
El Galeno
Inmaculada
Las Bambas
Constancia
Quellaveco
Antamina
Uchuchacua
Cerro de Pasco
San Cristobal Toromocho
Iscaycruz Colquijirca
Pachapaqui
Quiruvilca
Huarón
Yanacocha
Antapacay Pallancata
Tantahuatay Sinchao
Cellaccasa
Arcata
Cerro Lindo
Yauricocha
Mines Projects Millions Onces of
Fine silver < 50
50-100
300-100
> 300
Peru. A mining country….
PRODUCTION OF GOLD AND SILVER IN PERU: PAST, PRESENT
AND FUTURE
Lima, Peru May, 2014
Jorge ACOSTA, Alexander SANTISTEBAN, Dina HUANACUNI,
Michael VALENCIA & Eder VILLARREAL
PROGRAMA DE METALOGENIA DIRECCIÓN DE RECURSOS MINERALES Y ENERGÉTICOS
