{"id":1147126,"date":"2019-10-31T14:54:31","date_gmt":"2019-10-31T20:54:31","guid":{"rendered":"https:\/\/www.mining.com\/?p=1005808"},"modified":"2019-10-31T14:54:31","modified_gmt":"2019-10-31T20:54:31","slug":"newmonts-quecher-project-at-yanacocha-achieves-commercial-production","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1147126","title":{"rendered":"Newmont\u2019s Quecher project at Yanacocha achieves commercial production"},"content":{"rendered":"<p>Newmont Goldcorp&nbsp;(NYSE: NEM, TSX: NGT) said Thursday that the&nbsp;Quecher&nbsp;Main project at Yanacocha in Peru achieved commercial production safely, ahead of schedule and under budget.&nbsp;&nbsp;<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The full project, including future leach pad expansions, is expected to be completed for about $275 million of development capital, below the initial estimate, Newmont said.&nbsp;&nbsp;<\/p>\n<p>Yanacocha\u00a0is Newmont Goldcorp\u2019s only mine in Peru and is located about\u00a0800 kilometers northeast of Lima.\u00a0\u00a0<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The project takes advantage of Yanacocha\u2019s existing infrastructure  <\/p>\n<\/blockquote>\n<\/figure>\n<p>Quecher&nbsp;Main extends the life of the Yanacocha operation to 2027, contributing average annual gold production of approximately 200,000 ounces from 2020 through 2024 at all-in sustaining costs<sup> <\/sup>of between $900 and $1,000. The project is expected to generate an internal rate of return of approximately 15% at a $1,200 gold price. <\/p>\n<p>Newmont Goldcorp CEO Tom Palmer said the project takes advantage of Yanacocha\u2019s existing infrastructure to add profitable production from remaining oxide ores while also serving as a bridge to future growth opportunities, including Yanacocha\u2019s extensive sulfide deposits.&nbsp;<\/p>\n<p>The project included development of the&nbsp;Quecher&nbsp;Main pit, two smaller oxide deposits and a heap leach pad.&nbsp;<\/p>\n<p>Yanacocha began commercial production in 1993 and has since produced more than 38 million ounces of gold from open pit oxide and transitional ores processed at Yanacocha\u2019s gold mill and leach pads. <\/p>\n<p>The operation is a joint venture between Newmont Goldcorp (51.35%), Minas Buenaventura (43.65%) and Sumitomo Corporation (5%).&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yanacocha began commercial production in 1993 and has since produced more than 38 million ounces of gold.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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