Newmont Goldcorp’s Quecher Main makes commercial production in Peru

By Daniel Brightmore
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.”


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.


Featured Articles

The Battle for Control of Rare Earth Minerals Supply Chain

As Australia dilutes China's control of rare earth minerals mines, we look at the struggle for control of the 'magnet minerals' driving clean energy tech

Critical Minerals Driving China's Growing Africa Investments

China's investment in African growing fast as it invests in infrastructure around minerals essential to the global energy transition, especially lithium

Canadian Gold & Uranium Head Top-Ranked Mines

Mining Journal Intelligence 2024 mines report shows gold, uranium, copper & lithium dominating in wake of clean energy drive

Gold Nanoparticle Breakthrough a Sustainability Fillip


South Africa Mining Sector Holds Breath on Nationalisation

Supply Chain & Operations

Worley: The Mining Professional Services Giant

Supply Chain & Operations