Pallancata I Peru

The Pallancata silver/gold property is located in the Department of Ayacucho, southern Peru and approximately 180 kilometres southwest of Cuzco.

We own 60% of the Pallancata operation and are the operator. The remaning 40% is held by Minera Oro Vega S.A.C. (a subsidiary of International Minerals Corporation).

We commenced operations on the mine in the third quarter of 2007 at an initial rate of 180 thousand tonnes per annum. The Pallancata ore is transported approximately 22 kilometres to our Selene plant for processing and is sold in the form of silver/gold concentrate. In 2009, Pallancata produced 7.7 million tonnes of concentrate with 8.4 million ounces of silver and 32 thousand ounces of gold.