The mining company aims to produce 25,000 tons of fine copper equivalent for the same year, according to CEO Adolfo Vera.

In an interview with the Peruvian Institute of Mining Engineers, the president of Southern Peaks Mining, Adolfo Vera, recalled that the Condestable mining operation, located in the province of Cañete, has increased its processing capacity from 7,000 to 8,400 tons per day, an increase of 20%.

“For this reason, we expect to end 2023 with a mine production of approximately 23,000 tons of fine copper equivalent, while in 2024, we expect to produce 25,000 tons of fine copper equivalent, which represents a growth of about 10%,” he estimated during his presentation at the PERUMIN 36 Mining Convention.

Next, Vera revealed that the Peruvian mining company has planned to spend $20 million next year on maintenance or sustainability capital expenditures, commonly known as the expenses an organization incurs on equipment that results in benefits that ensure and measure its growth.

"In addition, we have a tailings filtration project in the same mining unit that will cost us another US$20-25 million. Although we do not have the final figures yet, we believe that we will invest approximately US$50 to 55 million in Condestable next year," the company representative speculated.

On the other hand, Adolfo Vera mentioned that Southern Peaks Mining owns around 45,000 hectares of concessions, 4,500 of which have been explored, leaving a profitable margin of 90% of the concessions to continue developing future satellite deposits that contribute to the copper production of the deposit.

“For now, we do not have an immediate plan for regional exploration to see if we can soon find another mine similar to Condestable, but we are trying to apply technology that will allow us to do that without necessarily having to invest in an extensive or intensive diamond drilling campaign,” Vera clarified.

Finally, he revealed the presence of informal and illegal miners searching for non-metallic minerals within the company's concessions, and a group of them had allegedly demanded 5,000 hectares from the company. This makes it impossible for them to exercise absolute control over the surface, which is why they are requesting government intervention to combat this problem.

“There are always invaders and people we would not want to deal with. Therefore, we hope that legislation and the central government can do something to reduce these illegal initiatives, not only in Condestable but in the Peruvian mining sector in general. We want to keep the peace,” said the spokesperson for Southern Peaks Mining.