Whither Peruvian gold?

Reporting from the VIII International Gold Symposium in Lima, MinerAndina says Miguel Cardozo, Chairman and CEO of junior company Alturas Minerals, forecast that Peru’s gold production would decline to 115 t/y, starting in 2016, when Yanacocha runs out of ore, if no more major exploration efforts are undertaken and unless more creative work is conducted by geologists. His estimates are based on the prospects and/or projects that would be going into production by that time.However, a lot will happen before then, especially in 2012, when Peru’s gold is projected to reach an all time high output of 227 t/y. This will occur, provided:

a) Major projects such as Pucamarca, Tantahuatay, La Zanja, Marcapunta, Sinchao, Jessica (Arasi) and Tres Cruces, are put into operation, as they will add 600,000 oz of gold to the national production

b) More porphyries with gold content, like Cerro Corona, are developed.

They will be the hope for the gold future in the country. The last high in Peruvian gold production was in 2005 with 207 t produced.