Gold Fields will invest US$35 million in the Cerro Corona mine to extend its lifespan until 2030.

The South African company Gold Fields has announced investment plans totaling US$35 million aimed at improvements in the secondary crushing line and the development of water plants at the Cerro Corona gold and copper mine located in Cajamarca. This investment is part of a mine expansion project with the goal of optimizing its operations and extending its lifespan until 2030, as part of an effort to continue contributing to the development of the country and the Cajamarca region. According to Gold Fields' Executive Vice President for the Americas Region, Luis Rivera, production at Cerro Corona has experienced a decline in recent years, reaching 240,000 equivalent ounces of gold in 2023, with a projected 20% reduction for the current year, estimating a production of 200,000 ounces. Rivera clarified that the ongoing optimization does not imply an increase in production, but rather the processing of stored ore from previous years. The company completed feasibility studies two years ago to extend the mine's lifespan until 2030, and is currently awaiting approval of the ninth Amendment to the Environmental Impact Study (MEIA) which would extend Cerro Corona's lifespan. This proposal involves an additional investment of between US$10 and US$20 million and includes converting the current pit into the next tailings dam. In addition to investments in Cerro Corona, Gold Fields is exploring areas in the north and south of the country, with a particular focus on Cajamarca and Moquegua, the latter with potential gold and copper deposits that extend into northern Chile. Vice President Rivera emphasized that the company is committed to exploration and the search for new deposits, although they have not made significant acquisitions to report to the market thus far. In line with their expansion and exploration strategy, Gold Fields has been working to obtain permits to explore new deposits in various regions of the country. The company's main focus remains on gold, although they are also open to opportunities that may arise in the national mining sector. With a clear plan to extend Cerro Corona's lifespan until 2030, Gold Fields aims to maintain its presence in Peru and contribute to the sustainable development of the mining industry in the region.