Cobre en peru perumin prentacion
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    Cobre en peru perumin prentacion Cobre en peru perumin prentacion Presentation Transcript

    • COPPER IN PERU: FACTS AND CHALLENGES Jorge ACOSTA(1), Alberto BUSTAMANTE(2) & Miguel CARDOZO(2, 3) (1) INGEMMET (2) EXPLOANDES (3) ALTURAS MINERALS Arequipa, Peru September 2013
    • Content • Statistical facts • Peruvian copper belts • Deposit types and metal contents in the main porphyry belts • Geological models of the main porphyry belts in Peru • Facts and challenges
    • Statistical Facts
    • Worldwide Copper Production Trends (average for each 10 years) 9 18 16.5 Metric Tons of Fine Copper (Millions) Australia 8 Canada 16 14.6 Chile 7 14 China Peru 6 12 10.4 United States 5 8.4 World production 3 2 10 Others 4 7.4 8 5.0 1.8 1.6 1.2 1.0 0.5 0.05 6 2.7 3.1 1 5.4 5.1 1.3 1.2 1.2 0.9 1.1 0.98 0.7 0.21 4 1.26 0.35 0.28 2 0.44 0 0 1950s 1960s 1970s 1980s 1990s Average for each decade Sources: Global Copper Production from http://minerals.usgs.gov/ds/2005/140/ds140-coppe.pdf Peruvian Historic Copper Production from http://www.minem.gob.pe/estadistica.php?idSector=1&idEstadistica=5818 Chilean Historic and Forecast Copper Production from http://www.cochilco.cl 2000s 2010-2012
    • Peru and Chile Copper Production to 2021 Metric Tons of Fine Copper (Millions) (actual + forecast) 18 16 14 12 10 8 6 4 2 0 World Peru Sources: Global Copper Production from http://minerals.usgs.gov/ds/2005/140/ds140-coppe.pdf Peruvian Historic Copper Production from http://www.minem.gob.pe/estadistica.php?idSector=1&idEstadistica=5818 Chilean Historic and Forecast Copper Production from http://www.cochilco.cl Chile
    • Copper Mines in Peru - 2012 Metric Tons of Fine Copper x 1000 500 Annual Production Metric Tons of Copper X 1000 1-10 10-50 50-200 200-500 Mines Cerro Corona 463 400 Antamina Raura 300 Atacocha 279 Chungar 200 162 Raul-Condestable Cobriza Cerro Lindo 149 Tintaya 100 47 0 38 34 21 20 Antapacay 6 5 4 2 2 Cerro Verde Chapi Cuajone Toquepala Source: Mining Yearbook 2012 - MEM
    • Future Copper Producers in Peru Planned Annual Production Metric Tons of Copper Projects X 1000 1-10 Río Blanco (2019) 10-50 Cañariaco (2019) 50-200 600 Minas Conga (2017) Planned Annual Production Metric Tons of Fine Copper X 1000 200-500 Michiquillay (2019) La Granja (2017) El Galeno (2016) 500 500 Magistral (2016) 400 350 315 300 275 Toromocho (2014) 225 200 200 190 187 Los Chancas (2017) 160 120 119 110 107 103 100 Haquira (2019) 80 80 Constancia (2015) 60 54 Quechua (2014) Mina Justa (2015) 31 Zafranal (2019) 0 Tía María (2015) Source: Mining Yearbook 2012 - MEM Las Bambas (2014) Los Calatos (2018) Quellaveco (2016)
    • Copper Exploration Projects El Tambo La Arena Potrobayo Papayo Trapiche Tambogrande Tambogrande Pampa Colorada Cotabambas Coroccohuayco Colpayoc Cascabamba Pukaqaqa Antilla La Arena Pashpap Katanga Rondoni Aguas Verdes Ataspaca Lara Pashpap Los Latinos Pachagón El Toro Alto Dorado Adriana Rondoni Cascabamba Colpayoc El Chorro El Tambo Alpamarca Adriana La Mancha Los Latinos Pachagón Pukaqaqa Puquio Utupara Pucacorral Potrobayo Papayo Alto Dorado Alpamarca Sombrero Aucapampa Angostura Antabamba Pampa Colorada Pucacorral Sombrero Aucapampa Utupara Katanga Lara Antilla Trapiche Coroccohuayco Aguas Verdes Antabamba Puquio Angostura Projects with resources > 1 MMT Projects with resources < 1 MMT Source: Mining Yearbook 2012 - MEM Reserves and Resources from Annual Reports of Mining Companies Ore Mineral Deposits Data Base from http://geocatmin.ingemmet.gob.pe/geocatmin/ Prospects El Chorro Ataspaca La Mancha
    • Copper Mines and Projects in Peru Actual and Planned Annual Production Mines Projects Metric Tons of Fine Copper X 1000 Río Blanco 1-10 10-50 50-200 200-500 Actual/Planned Annual Production Metric Tons of Fine Copper X 1000 600 Cerro Corona Minas Conga Michiquillay La Granja El Galeno Magistral Antamina 500 400 300 Toromocho 200 Las Bambas Los Chancas 100 0 Tintaya Mina Justa Zafranal Cerro Verde Tía María Source: Mining Yearbook 2012 - MEM Quechua Cuajone Quellaveco Toquepala
    • Peruvian Copper Belts
    • Main Porphyry Belts, Mines and Projects in Peru Actual and Planned Annual Production in Metric Tons of Fine Copper X 1000 Mines Projects 0 1-10 10-50 50-200 200-500 Metallogenic belts Miocene porphyry belt Eocene-Oligocene porphyry belt Paleocene-Eocene porphyry belt Source: Metallogenic Map of Peru 2011 – INGEMMET Mining Yearbook 2012 - MEM
    • Other Copper Belts in Peru Metric Tons of Mines Projects Fine Copper X 1000 0 1-10 10-50 50-200 200-500 Metallogenic belts Upper Cretaceous-Paleocene VMS Cu-Zn-Au Upper Cretaceous Porphyry Cu Lower Cretaceous IOCG Upper Jurassic - Albian VMS Cu-Zn-Au Upper-Middle Jurassic IOCG & Porphyry Cu Permian skarns Cu Source: Metallogenic Map of Peru 2011 – INGEMMET Mining Yearbook 2012 - MEM
    • Peruvian Copper Production 1998-2025 forecast actual Río Blanco Cañariaco Michiquillay Haquira Zafranal Metric Tons of Fine Copper (Millions) 6.0 5.0 4.9 Miocene Porphyry Belt Los La Granja Calatos Minas Conga Los Chancas 4.2 Eocene-Oligogocene Porphyry Belt 4.0 El Galeno 4.1 Magistral Quellaveco +Cerro Verde Paleocene-Eocene Porphyry Belt Other type of deposits 3.0 3.4 Tía María Toromocho Mina Justa Las Bambas Constancia Quechua 2.5 +Toquepala 2.2 2.0 +Cuajone 1.5 1.0 0.0 Source: Copper Production 1998-2012 from Mining Yearbook 2000-2012 - MEM
    • Deposit Types in the Main Porphyry Belts in Peru Deposit Types Porphyry Skarn Other State Mines Future Producers Exploration projets Metallogenic belts Miocene porphyry belt Eocene-oligocene porphyry belt Paleocene-Eocene porphyry belt Source: Belts from Metallogenic Map of Peru 2011 - INGEMMET
    • Deposits Types in Other Belts in Peru Deposit Types Porphyry Skarn Other State Mines Future Producers Exploration projets Metallogenic belts Upper Cretaceous-Paleocene VMS Cu-Zn-Au Upper Cretaceous Porphyry Cu Lower Cretaceous IOCG Upper Jurassic - Albian VMS Cu-Zn-Au Upper-Middle Jurassic IOCG & Porphyry Cu Permian Skarns Cu Source: Belts from Metallogenic Map of Peru 2011 - INGEMMET
    • Peruvian Copper Production by Deposit Types 1.4 Metric Tons of Fine Copper (Millions) 0.69 Porphyry 1.2 0.70 0.63 0.65 0.64 Skarn 1.0 0.71 0.49 Others 0.46 0.45 0.46 0.43 0.8 0.42 0.54 0.6 0.53 0.41 0.52 0.52 0.49 0.50 0.48 0.08 0.41 0.09 2008 2009 0.47 0.45 0.36 0.38 0.4 0.35 0.27 0.2 0.08 0.11 0.12 0.04 0.0 0.02 0.03 0.03 1998 1999 2000 2001 Source: Copper Producction from Mining Yearbook 2000-2012 - MEM 0.03 0.03 0.03 0.04 2002 2003 2004 2005 0.05 2006 0.12 0.12 0.06 2006 0.10 2010 2011 2012
    • Historic Cumulative Copper Production in Peru Total Production in Peru 28 MMT (100%) Production from main porphyry belts 23 MMT (82%) Other Cu belts: 2 MMT (7%) Other non-Cu belts: 3 MMT (11%) Million Metric Tons of Fine copper Mines 5 MMT 18% Antamina 4.1 MMT <1 1-3 2 MMT 3-5 7% 5-7 Tintaya 2.0 MMT Metallogenic belts Miocene porphyry belt Eocene-oligocene porphyry belt Paleocene porphyry belt Sources: Belts from Metalogenic Map of Peru 2011- INGEMMET Historic Copper Production from http://www.minem.gob.pe/estadistica.php?idSector=1&idEstadistica=5818 Toquepala 6.7 MMT 16 MMT 57%
    • Copper Resources and Reserves in the Main Porphyry Belts in Peru Total reported resources in Peru 218 MMT (100%) Resources from porphyry belts 192 MMT (88%) 85 MMT Other Cu belts: 11 MMT (5%) Other non-Cu belts: 15 MMT (7%) 39% Millions Metric Tons Exploration Future Mines of Fine Copper Projects Producers <1 1-5 5-10 10-15 > 15 Sources: Belts from Metalogenic Map of Peru 2011- INGEMMET Reserves and Resources from Annual Reports of Mining Companies 44 MMT 20% 63 MMT 29%
    • Main Copper Resources and Reserves in Peru (> 1 Million MT) Million Metric Tons of Fine Copper Millions Metric Tons of Future Exploration Mines Fine Copper Producers Projects 25 <1 1-5 5-10 10-15 > 15 21 20 15 10 20 19 15 14 10 10 9 9 7 7 5 5 4 4 4 4 3 3 3 3 3 2 2 2 2 2 2 2 0 Source: Reserves and Resources from Annual Reports of Mining Companies 1 1
    • Geological Models of the Main Porphyry Belts in peru
    • Geological Models - Paleocene Magmatic Belt Andesite Sources: Presentations from SPCC - 2007, Sociedad Minera Cerro Verde - 2007
    • Geological Models - Eocene-Oligocene Magmatic Belt Andesite Sources: Articles from SEG, Peruvian Geological Congress, ProExplos, Annual Reports from Mining Companies
    • Geological Models - Miocene Magmatic Belt Yanacocha Andesite Sources: Articles from SEG, Peruvian Geological Congress, ProExplos, Annual Reports from Mining Companies
    • Facts and Challenges
    • Distinctive Features of Main Deposit Belts and Types Belt Features Paleocene Eocene-Oligocene Miocene Mostly large to very large, +300 MMT to 4,000 MMT Mid- to large, +400 MMT to 1,800 MMT Mid- to very large, +400 MMT to 4,000 MMT Copper 0.39 - 0.47 % Cu 0.44 - 0.93 % Cu 0.28 - 0.69 % Cu Gold 0.03 g/t Au 0.04 - 0.25 g/t Au 0.05 - 0.90 g/t Au Silver 2.20 - 3.10 g/t Ag 1.45 - 4.75 g/t Ag 1.24 - 6.90 g/t Ag Moly 0.02 % Mo 0.013 - 0.030 % Mo up to 0.010 % Mo Commonly, intense development of oxide and secondary sulphide vertical zones Limited Limited Average grade Size Weathering Geometry Structurally aligned porphyries. Mineralization Complex, mineralized skarn Clusters of mid- to largeoccurs in the intrusives as bodies are small- to mid-size sized porphyry. well as in their country and irregular, mostly above Mineralization occurs in the rocks. Gold mineralization in porphyries but also intrusives as well as in their sandstones and bulkunderneath intrusive bodies. country rocks. tonnage, polymetallic Gold mineralization occurs mineralization in skarns frequently associated
    • Exploration Challenges • Among the challenges we have in the short term is to guarantee the implementation of future copper producers in Peru and ensure that the initial exploration projects become mining operations. In the long term it is necessary to increase investment in mineral exploration to expand reserves and resources and discovery of new deposits, so it will need to improve, innovate and implement new geophysical methods. • Worldwide investment in mineral exploration is expected to drop in 2013 by no less than 40%. • Last decrease was 42% in 2009, while it dropped only 18% in Peru as major mining houses maintained their drilling programs whereas junior exploration companies cut their programs. • In 2013, investment in mineral exploration in Peru will likely follow the international tendency, as exploration cuts and significant delays in environmental permitting are affecting all companies.
    • Exploration Challenges • Promoting mineral exploration is essential to increase both metal production and long-term resources. • Both financial and technical incentives are required and social barriers have to be removed. • INGEMMET offers 1:100,000 and 1:50,000 scale regional maps covering the whole of the country and most of the territory is also covered by drainage geochemical sampling. • Regional geophysical surveys (magnetic and radiometric) are insufficient. • Radiometric age data is extensive, but still needs to be expanded. • Isotopic studies useful to distinguish most productive mineralized systems and to identify mineralization sources are still very limited. • Studies of magmatic arcs related to mineralized systems are insufficient.
    • COPPER IN PERU: FACTS AND CHALLENGES Jorge ACOSTA(1), Alberto BUSTAMANTE(2) & Miguel CARDOZO(2, 3) (1) INGEMMET (2) EXPLOANDES (3) ALTURAS MINERALS Arequipa, Peru September 2013