Buenaventura invests US$3.17 million in the modernization of the Julcani mine in Peru.

The Peruvian mining company Buenaventura is taking a significant step towards the modernization and optimization of its silver mine Julcani, located in the Huancavelica region. Aiming to improve its operational capacity and maintain competitiveness in the sector, the company has submitted a fifth technical support report (ITS) that outlines an investment of approximately US$3.17 million. This project, which includes the expansion of the tailings deposit and improvements to the concentrator plant, marks a new phase in the history of Julcani, which has been essential in mineral production in the country since 1953. The Julcani mine, situated at 4,200 meters above sea level, has had various extraction zones throughout its operation. Currently, it is focused on the Acchilla and Estela areas, where eight operational levels are maintained. In the first half of 2023, the mine produced 828,741 ounces of silver, contributing to an annual total of 1.67 million ounces, figures that align with the company’s expectations. The ITS presented by Buenaventura details how the proposed modifications will be carried out without interrupting current operations. In particular, it is estimated that the improvement of the tailings deposit will take approximately 17 months, while the optimizations in the concentrator plant will be completed within six months. This approach aims to ensure a smooth transition to new capabilities without affecting existing production. One of the main modifications to the tailings facility includes a two-meter increase in the dam, anticipating a storage capacity of 2.64 million cubic meters. This adjustment will not only allow for more efficient tailings management but also avoid the need to construct new facilities, which could incur considerable costs. The investment for this work is estimated at US$1.21 million. Additionally, optimizing the concentrator plant is essential for improving the efficiency of processing the extracted mineral. Buenaventura has identified the need for new equipment, which will require an investment of approximately US$1.96 million. With these improvements, silver recovery is expected to increase from 97.81% to 98.75%, while gold recovery will rise from 39.65% to 90.93%. This advancement in recovery is crucial for maximizing the mine's yield and ensuring its long-term viability. On the other hand, the ITS also proposes that Julcani have the option to sell the extracted mineral to other mining units, with a maximum limit of 12,000 tons per month. This strategy is fundamental, as the tailings facility is expected to reach its maximum capacity, making it essential to sell this resource to third parties to maintain production continuity. The option to market minerals to other companies not only ensures the continuity of underground extraction activities but also contributes to the mine's operability. According to the report, this strategy will allow for the maintenance of equipment operations and ensure that Julcani remains within profitable margins. Thus, Buenaventura seeks to strengthen its market position and secure its financial stability in an increasingly competitive environment. The implementation of these improvements aligns with Buenaventura's commitment to operate sustainably and responsibly. The company has been recognized for its focus on environmental management and minimizing impacts on surrounding communities. The modernization of Julcani will not only benefit the company but also has the potential to generate jobs and contribute to the economic development of the region. In summary, Buenaventura's investment in the Julcani mine represents an important step towards the modernization and optimization of its operations. With a focus on sustainability and continuous improvement, the company aims to ensure its competitiveness in the market and maintain its leadership in silver production in Peru. The mining community will be attentive to the advancements of this ambitious project, which promises to keep Julcani as a benchmark in the country's mining industry.