Mining companies advance major copper and silver projects in Peru

Silver Mountain Resources is evaluating an early restart of its Caudalosa mine in Huancavelica, Peru, following high-grade drilling results. The company reported that the first 11,500 meters of its 17,500-meter drilling program identified mineralized intervals in several veins, including the Paulinita vein. One specific drill hole intercepted 3.30 meters with 569 grams of silver per tonne, 3.11% copper, and 0.99% zinc. CEO Álvaro Espinoza stated that the results have exceeded initial expectations, and the company is investigating whether mineralization extends beyond historical resource estimates.

Separately, Southern Copper is progressing with the Michiquillay copper project in the Cajamarca region. The company is currently working on resource estimation and classification alongside engineering studies for conventional and filtered tailings storage. The project represents a planned investment of US$2.5 billion, with production projected to begin in 2032 following a six-year construction period.