Newmont Goldcorp’s Quecher Main makes commercial production in Peru

By Daniel Brightmore
Share
Newmont Goldcorp has announced that the Quecher Main project at Yanacocha in Peru achieved commercial production safely, ahead of schedule and under bud...

Newmont Goldcorp has announced that the Quecher Main project at Yanacocha in Peru achieved commercial production safely, ahead of schedule and under budget. 

The full project, including future leach pad expansions, is expected to be completed for approximately $275mn of development capital which is below the Company’s initial estimate.

Quecher Main extends the life of the Yanacocha operation to 2027, contributing average annual gold production of approximately 200,000 ounces from 2020 through 2024 at all-in sustaining costs between $900 and $1,000. The project is expected to generate an internal rate of return of approximately 15% at a $1,200 gold price.

“Quecher Main is the fourth profitable project we’ve brought into operation on four different continents this year, on schedule and within budget,” said Tom Palmer, President and Chief Executive Officer. “The project takes advantage of Yanacocha’s existing infrastructure to add profitable production from remaining oxide ores while also serving as a bridge to future growth opportunities, including Yanacocha’s extensive sulfide deposits.”

SEE ALSO:

Newmont Goldcorp’s Ahafo Mill hits commercial production in Ghana

Newmont Goldcorp resuming production at Peñasquito in Mexico

Newmont Goldcorp opens Borden ‘mine of the future in Ontario

Read the latest issue of Mining Global here

The project included development of the Quecher Main pit, two smaller oxide deposits and a heap leach pad.

Yanacocha began commercial production in 1993 and has since produced more than 38 million ounces of gold from open pit oxide and transitional ores processed at Yanacocha’s gold mill and leach pad. The operation is a joint venture between Newmont Goldcorp (51.35%), Minas Buenaventura (43.65%) and Sumitomo Corporation (5%).

Newmont Goldcorp has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain six to seven million ounces of steady gold production over a decades-long time horizon.

Share

Featured Articles

Intel Ridding its Supply Chain of Conflict Minerals

Intel first began to work towards responsibly sourced conflict minerals from the Democratic Republic of Congo and adjoining countries about 12 years

IEF on 'Paradox' of Mining's Role in Quest for Clean Energy

International Energy Forum says mining is the 'paradox' at heart of quest for clean energy but recognises the industry is addressing sustainability issues

ABB Reduces its Industrial e-Waste Impact

Leading global engineering company ABB – with strong mining presence – cuts industrial e-waste by promoting reuse and recycling in a push for circularity

Mining Automation Drives Efficiency and Safety Gains

Digital Mining

New Schneider SBS Energy Solution for Mining Sector

Smart Mining

Mining Conflicts Hit Communities As Battery Demand Soars

Sustainability