Growth projects
Our shorter-horizon development activity: projects designed to reach results more quickly than our larger-scale mining assets.
Positioned to move efficiently
We advance growth projects through practical field work and, once secured, the operating permits required to begin activity. This shorter-horizon activity sits alongside our broader portfolio of longer-term mining assets, each developed on its own timeline.
Our approach
Our approach to growth projects is built around three principles.
Practical field work
Surface and channel sampling, geophysical surveys, and test-pit excavation inform each project's development.
Permits secured before advancing
We secure operating permits before a project moves toward activity.
Efficient by design
We structure growth projects to reach results within a shorter timeframe than our larger mining assets.
Pilot first, scale after validation
We are establishing pilot production at our two precious metals projects rather than advancing them through a single large build. A first phase brings both into production at pilot scale, confirming performance and logistics under real operating conditions. A second phase scales the operation on the evidence the first phase produces, so commitments are made against demonstrated performance rather than against desk work alone.
Baseline
Establish the operating baseline and the local supply chain.
Validation
Confirm operating performance under real conditions.
Risk reduction
Reduce geological and metallurgical uncertainty through production rather than through study alone.
Pathway to scale
Create a structured route toward larger-scale mine development.
Establishing pilot production
Two projects, two different geologies, two different plants, both aimed at pilot production. Each is set out below with the sequence it follows.
Why pilot scale
Producing at pilot scale converts geological and metallurgical uncertainty into operating data. Performance is demonstrated on the ground before we commit to a larger plant.
What comes next
Operations are optimised against real performance, and the decision to expand is taken on that record. No mineral resources or reserves are declared for either project.
Current projects
Two precious metals projects permitted to move into production.
Rumichaca
Rumichaca is our alluvial gold project in Huanuco department. We have secured the operating permits required to move into production, supported by the geological and geochemical field work we have completed, including test-pit sampling. We reach the site via the Carretera Central through Tingo Maria, and we are planning development around a gravity-based processing approach designed for efficient activation. We are aligning activation with a formal community agreement.
Key facts
Permitted to produce
Alluvial gold project
Huanuco
2,700 hectares
100%
What the Rumichaca pilot involves
The stages the project passes through, from technical work to production at pilot scale.
Technical evaluation
Permitting
Mobilisation and activation
Pilot construction
Pilot production and optimisation
Tincopalca
Tincopalca is our hard-rock gold project in Huancavelica department. We have secured the operating permits required to move into production, supported by the geochemical, geological and geophysical technical work we have completed. The project sits at an average elevation of around 3,820 metres above sea level and we reach it via a route from Arequipa rather than Lima. We are planning development around a modular processing configuration designed for efficient activation, and environmental assessment work is in progress alongside this.
Key facts
Permitted to produce
Hard-rock precious metals project
Huancavelica
2,390 hectares
100%
What the Tincopalca pilot involves
The same stages, with a drilling programme to test the mineralisation targeted for pilot production.
Technical evaluation
Permitting
Drilling programme
Activation and pilot construction
Pilot production and optimisation
Key facts
Growth projects permitted to move into production
Staged development across the portfolio
Our ownership across all growth projects
Part of our five-asset strategy
Our growth projects sit alongside our broader portfolio as part of one staged development programme.
Where we operate
Efficient by design
Growth projects are planned to feed our own concentrators and refinery, so that material moves from pit to finished metal within Xstreco.
Development projects
Development projects
The processing and refining capacity we are building to convert our own ore into concentrate and finished metal.