Condestable

Overview

Summary

Location

Cañete, Lima, Perú

Key commodities

Cu (Au/Ag)

Land package

45,868 ha

Mill Capacity

7,000 tpd

Deposit Type

IOCG

Ownership

98.7%

Type of mine

Underground

 

 

Condestable is an underground IOCG deposit (Cu with Au/Ag credits) located in the Cañete Province, in the Lima Region, Peru. Condestable is strategically located 3 km away from the Pan American highway, approximately 100km from the port of Callao, and at a height of 100-400 meters above sea level. The total land package for Condestable covers over 45 thousand hectares.

The operations consists of two contiguous mines, Condestable and Raul, feeding a 7,000 tpd conventional sulphide flotation plant, producing c. 22,000 tonnes of payable copper equivalent output in concentrate per year.

Production started at the site in the 1960´s through the Nippon Mining company. The assets became government owned in the late 1970´s during the military government and were re-privatized in 1992. Trafigura acquired participation in Condestable in 1997 and subsequently expanded the processing plant capacity from 1,500 tpd to the current 7,000 tpd, as well as integrated the neighbouring Raul mine operations. In 2013 Trafigura sold all its shares in Compañia Minera Condestable to Southern Peaks Mining.

Geology

The CMC mine occurs within an Upper Jurassic to Lower Cretaceous volcano-sedimentary belt intruded by the Peruvian Coastal batholith, a large polyphase 1,600 km long batholith consisting of a dike swarm and sill complex emplaced at high crustal levels.

The geology in the CMC mine area is characterized by a homoclinal volcano-sedimentary rock panel striking south-southeast and tilted to the west at about 40º. All known sulfide mineralization occurs within 1.3 km thickness unit, subdivided into six main conformable sub-units (Calicantro, Apolo, Actinolita, Intermedio, Polvorín and Chicharrón). The volcano-sedimentary rocks are intruded by a wide range of intrusive rocks comprising northeast, north-northeast and northwest trending dikes.

The copper sulfide mineralization at the Raúl-Condestable deposit occurs as stratabound replacement bodies (mantos or reefs) and crosscutting sulfide-bearing quartz veins. The reefs consist of disseminated, semi-massive to massive sulfide-iron-oxide. The principal sulfides are chalcopyrite, bornite, pyrite and pyrrhotite. The iron oxides include magnetite and hematite. Scapolite, calcite, quartz, and amphibole are the dominant gangue minerals. Locally, molybdenite, sphalerite and galena are found. Minor gold and silver are associated with the copper mineralization.

Operating Data & Reserves

Operating data

2011

2012

2013

2014

2015

2016

Ore mined

mt

2,374,072

2,484,552

2,445,749

2,417,315

2,449,106

2,433,738

Ore grade

%

1.06

0.93

0.85

0.84

0.863

0.844

Cu recovery

%

90.1

90.4

87.6

90.15

90.0

90.0

Cu payable

mt

21,520

19,786

17,492

17,430

18,246

19,067

Au payable

oz

12,540

11,494

11,508

11,139

9,500

9,133

Ag payable

oz.

283,946

263,693

242,114

262,651

287,112

282,121

 

Reserves  & Resources

2011

2012

2013

2014

2015

P&P Reserves

mt

10,666

10,425

10,207

11,298

10,394

Cu grade

%

1.04

0.97

0.99

0.93

1.06

Reserve replacement        %

100

90

91

145

63

M&I Resources*

mt

7,794

7,849

7,861

8,439

8,480

Cu grade

%

1.60

1.53

1.55

1.48

1.46

Inferred Resources

mt

4,900

4,970

6,092

4,739

3,298

Cu grade

%

1.20

1.20

1.33

1.33

1.18

*M&I resources are inclusive of reserves. Resources are before dilution. Reserves and resources are NI 43-101 compliant.

Future potential

CMC is currently engaged in a significant drilling programme aimed at substantially increasing reserves by YE2017. The reserve expansion programme targets blocks at depth, targeting high grade Cu intercepts at the sub -520 levels, as well as focusing on resources in the upper levels at Condestable, Raul and structures in Vinchos Sur. CMC geological team has successfully replaced on average 100% of exploited reserves over the last 5 years.

Gallery