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  Cerro Corona

Cerro Corona

Mill SAG – Process plant at Cerro Corona  
During financial 2010 Cerro Corona produced 393,600 of gold equivalent ounces at a cash cost of US$348 per ounce and an NCE of US$561 per ounce.
For the financial year to end-June 2011 the outlook for Cerro Corona is to produce between 315,000 and 340,000 of gold equivalent ounces at a cash cost of between US$410 and US$440 per equivalent ounce and an NCE of between US$625 and US$660 per equivalent ounce. Gold production is forecast at between 120,000 and 130,000 ounces while the outlook for copper production is between 33,000 and 35,500 ounces.
Mill SAG – Process plant at Cerro Corona    

The Cerro Corona Mine is a large open-pit mine situated in the highest part of the western Cordillera of the Andes Mountains in northern Peru, two kilometers north-west of the village of Hualgayoc in the Department of Cajamarca. This is about 600 kilometers north-east of Lima and about 80 kilometers by road north of the city of Cajamarca.

The Cerro Corona copper-gold deposit, which contains Mineral Resources of 8.7 million gold equivalent ounces and Mineral Reserves of 5.3 million gold equivalent ounces, is a porphyry style mineralisation, hosted by a 600 meter to 700 meter diameter sub-vertical cylindrical-shaped diorite porphyry, emplaced in mid-Cretaceous limestone, marls and siliclastic rocks. The project involves the production of gold and copper by conventional open-pit mining methods. The copper-gold flotation concentrate is trucked to the port of Salaverry for shipment to smelters in Japan, Korea and Europe.

Gold produced
(’000oz)
 
Exploration at Chucapaca
Exploration at Chucapaca
 
Process plant and storage of concentrate at Cerro Corona
Process plant and storage of concentrate at Cerro Corona
Gold produced (’000oz)    

    F2010 F2009 F2008
Open-pit mining        
Waste mined ’000t 7,366 4,894 5,762
Ore mined ’000t 6,248 5,044 939
Combined grade g/t 2.3 2.4 2.7
   Au grade g/t 1.1 1.2 1.2
   Cu grade per cent 0.8 0.8 0.4
Strip ratio W:O 1.2 1.0 6.1
Processing        
Tonnes milled ’000t 6,141 4,547
Combined yield g/t 2.0 1.5
   Au yield g/t 1.1 0.7
   Cu yield per cent 0.9 0.5
Gold produced ’000oz 139 105
Copper produced ’000t 41 24
Copper produced expressed in equivalent gold ounces ’000eqoz 254 114
Total produced ’000eqoz 393 219
Total cash cost US$/eqoz 348 369
Notional cash expenditure US$/eqoz 561 926
Net attributable earnings US$m 87.9 20.5
Capital expenditure US$m 85.6 116.8 348.4