Horizonte Mining Consortium: Leader in Gold Production and Ambitious Investment Goals

The Horizonte Mining Consortium is currently thriving thanks to the sustained increase in the price of gold, which has exceeded all expectations for 2023 and continues to rise in 2024. During the Symposium - XV International Mining Meeting, the company's executive highlighted the stability provided by this outlook, with the price of gold reaching US$ 2,300 per ounce and rising to US$ 2,400 at the beginning of last week. This situation has allowed the business group to set ambitious goals for the current year's closure and to project a significant investment in exploration beyond gold. In order to maintain its position as a leader in gold production in Peru, the Horizonte Mining Consortium aims to reach 250,000 ounces of gold from its gold mines in the country. Of this figure, it is estimated that around 200,000 ounces will be directly produced by the company, while the remaining 50,000 ounces will be contributed by Cori Puno. Additionally, in Colombia, they plan to generate 35,000 ounces of gold through their company Antioquia Gold, consolidating their presence in the region. For the current year, an investment of US$ 30 million is scheduled, a similar amount to the previous year. This financial outlay will be mainly allocated to mining operations in Peru and Colombia, with the Andean country receiving the largest share of investment. The executive stated that these investments are necessary to maintain and improve facilities, as well as to explore new mining areas in search of sustainable growth. In addition to investments aimed at the operation of mines, the Horizonte Mining Consortium has planned an investment in mining exploration ranging between US$ 15 and 20 million for the current year. This focus on exploration involves conducting drilling in projects located in Huancavelica and Áncash, as well as incorporating new initiatives into their project portfolio. The Palcawanka project in Huancavelica, for example, is undergoing drilling to assess its potential, while in Áncash, they plan to carry out 12,000 meters of diamond drilling in search of copper and gold resources. Despite having projects in their portfolio that involve the extraction of copper, zinc, lead, and silver, the executive indicated that not all of them will be developed by the company, as some may require considerable investments. In this regard, the possibility of seeking commercial partners or selling mining projects that do not align with the company's strategy will be evaluated. Regarding the exploration of new areas, the representative of CMH mentioned that they are actively seeking opportunities throughout the Peruvian territory, whether in unexplored areas or in regions adjacent to their current operations. This focus on the expansion and diversification of their mining activities reflects the growth and sustainability vision guiding the decisions of the Horizonte Mining Consortium in the competitive mining sector. In summary, the Horizonte Mining Consortium is positioning itself as a key player in the Peruvian mining industry, capitalizing on the favorable gold market conditions to drive its operations and investment plans. With a focus on exploring new deposits and optimizing resources, the company projects a solid growth that will not only contribute to the development of the mining sector but also generate employment and development opportunities for the communities where it operates. This strategy of expansion and diversification consolidates the position of the Horizonte Mining Consortium as a benchmark in national mining and a growth engine for the country's economy.