RE:permit approval is weighing on this stock Don't care about Topia, is't all about Coricancha now.
Coricancha Information
Nyrstar acquired Coricancha by the end of 2009
Coricancha is a Cordilleran polymetallic ore deposit, comprising a system of massive sulphide veins and replacement bodies formed at epithermal to mesothermal conditions. The regional geology comprises a package of andesitic volcanic rocks and sedimentary rocks intruded by monzonite stocks. The area has been exposed to extreme structural compression, which has produced a strong fracturing pattern on a regional scale and allowed the intrusion of polymetallic mineralization in the form of quartz-galena-sphalerite-chalcopyrite veins with gold and silver. The property is underlain by a sequence of the andesitic volcanics of the Rimac Formation consisting of brecciated volcanics at the bottom of the stratigraphic sequence topped by andesitic flows, agglomerate, and tuff located in the upper part of the Huamanjune Mountain at 4,500m elevation. The vein system can be described as an anastomosing system where most of the secondary and tertiary veins branch off either from a main vein or secondary veins. At the local structural level, the veins are extensive and are known to extend more than 3,800m along strike and more than 1,500m down dip. The veins show pinch-and-swell type behaviour with a thickness of up to 2m and averaging 65-70cm.
Great Panther has an option to buy the operation following investment into exploration operations at the mine.
Nyrstar bought a majority stake in the mine from Gold Hawk Resources for $15 million in 2009, fully acquiring it a year later for an additional payment of $4.4-million.
The Coricancha mine has been shut since 2013 but still has reserves of gold, silver, zinc, lead and copper.
The Coricancha mine is an underground poly-metallic mine with more than 60 years of operating history, which comprises a 600-tonne per day ore processing facility, underground mine and reserves and resources containing gold, silver, zinc, lead and copper. The mine has three main product streams, comprising gold/silver dore, zinc concentrate (suitable for treatment at Nyrstar's European and Hobart smelters) and lead concentrate high in precious metals (suitable for treatment at Nyrstar's Port Pirie smelter). The Coricancha mine is managed in conjunction with the Contonga and Pucarrajo mines by a single experienced management team, utilizing the shared services of Nyrstar'’s Lima office. The Coricancha mine is located (approximately) 90 kilometres east of Lima, Peru in close proximity to a number of other significant mining operations and exploration properties.
Nov, 2011
Coricancha Mine
- EBITDA (Payable gold volume x (Metal Price – Cash Costs))
- Approximately 97% of gold contained in dor or gold concentrate is payable. One can assume that approximately
70% of gold contained in other gold bearing concentrates is payable.
- Note that by-product prices (silver, zinc, lead, copper) significantly impact cash costs
- For by-products the following assumptions can be used (this can vary depending on which concentrate the metal is contained) :
-95% of lead contained in concentrate is payable
-80% of copper contained in concentrate is payable
-90% of silver contained in concentrate is payable
Dec 21, 2011
Ondanks al het harde werk en de vele inspanningen kregen we in 2011 tragisch genoeg te kampen met twee dodelijke ongevallen. beiden deden zich voor in onze polymetaalmijn coricancha in Peru. bij Nyrstar komt veiligheid altijd op de eerste plaats. We moeten er alles aan doen wat
nodig is om onze eigen veiligheid en die van onze collega’s te garanderen. Veiligheid is een kernwaarde bij Nyrstar en daar valt niet over te onderhandelen. Om ervoor te zorgen dat we proactief stappen ondernemen om een veiligheidsprestatie van wereldformaat neer te
zetten, houden we momenteel een basisevaluatie van de ondergrondse mijnpraktijken in elk van onze mijnvestigingen. Deze evaluatie zal begin 2012 voltooid worden en daarna zal elke vestiging een eigen actieplan hebben om tekortkomingen of kritieke risico’s die door het
Evaluatieteam gedentificeerd werden aan te pakken
Peru: Coricancha boekt historische productieniveaus De coricancha-mijn in de hooglanden van Lima, boekte de hoogste productieniveaus in zijn geschiedenis tijdens de maand oktober. Dat resultaat werd behaald dankzij de inspanningen van meer dan 900 mensen die hier actief zijn, zowel werknemers van Nyrstar als onderaannemers.
Het is ook belangrijk om de rol te benadrukken die De Nyrstar Way daarin speelde; ‘Gedreven zijn’ is een fundamenteel onderdeel van het dagelijkse leven geworden voor het coricancha-team.We mogen niet vergeten dat coricancha een polymetaalmijn is met een geschiedenis van
meer dan 60 jaar die momenteel 600 ton mineralen per dag verwerkt en zink, lood, koper, goud en zilver produceert. Ook belangrijk is dat onze fabriek een biologisch loogproces gebruikt, BIOX, om het restgoud op een milieuvriendelijke manier te recupereren.
Het resterende mineraal wordt gerecupereerd aan de hand van de drijfprocessen. Coricancha hervatte zijn activiteit eind oktober vorig jaar en overwon zo de tamboraque-crisis (
https://www.terradaily.com/reports/Peru_fears_environmental_mining_disaster_999.html).
De verwachtingen voor de toekomst van deze vestiging zien er goed uit.
https://www.nyrstar.com/investors/en/Nyr_Documents/English/Nyrstar%20Annual%20Report%202011%20EN.pdf Nyrstar produced approximately 207,000 tonnes of zinc in concentrate, achieving the revised production guidance issued in the Second 2011
Interim Management Statement. Equally important was the significant increase in the production of copper, lead, silver and gold across the portfolio of
mining assets in 2011. For instance, copper in concentrate production and gold production increased by 39-fold and 11-fold respectively.
The Campo Morado operation produced approximately 46,000 tonnes of zinc in concentrate in 2011, an increase of 9% compared to 2010 under its previous ownership. In addition, the Campo Morado operation produced approximately 5,200 tonnes of copper in concentrate, 1.836 million troy ounces of silver and 17,000 troy ounces of gold which represents an increase of 29% and 7% for copper and silver and a reduction of 4% for gold on the production volumes produced in 2010. During the year, the Campo Morado operation improved a number of parameters relating to its bulk and zinc flotation circuits which resulted in increased plant availability; however, these improvements were partially offset in 2011 by lower head grades for zinc, silver and gold and a reduction in gold recoveries. As previously announced, the Contonga mine in Q3 2011 was operating at a temporarily reduced milling capacity to allow the expansion of its milling capacity from 660 to 990 tonnes per day which is expected to be completed by the end of Q1 2012, subject to the necessary permitting. In 2011, the Contonga mine produced approximately 10,000 tonnes of zinc in concentrate, 1,000 tonnes of lead in concentrate, 800 tonnes of copper in concentrate and 393,000 troy ounces of silver in concentrate, a substantial increase on 2010. The Pucarrajo mine remains on care and maintenance and the ramp-up of this mine to commercial production levels is continuing to be assessed against other internal and external growth opportunities as part of Nyrstar’s capital allocation process. In 2011, the Coricancha mine produced approximately 14,800 troy ounces of gold and 583,000 troy ounces of silver, representing a 215% and 190% increase on 2010 production respectively. In addition the mine produced 1,300 tonnes of lead in concentrate, 200 tonnes of copper in concentrate and 2,000 tonnes of zinc in concentrate. As previously disclosed, temporary interruptions to the operations in H1 2011 impacted production levels. In Q1 2011, heavy rainfall reduced operations at the mill for a period of approximately two weeks and in Q2 2011, despite the significant amount of work on safety matters that has been undertaken by Nyrstar, an employee was fatally injured in an incident at the Coricancha mine.
To allow for a full and proper investigation by both Nyrstar and the Peruvian regulators, and to ensure that stoping procedures at the mine were in accordance with Nyrstar’s safety standards, Nyrstar ceased mining and milling activities for a period of 18 days. Further, following the conclusion of the investigations Nyrstar, in consultation with the Peruvian mining authorities, proactively decided to reduce production to approximately 30% of capacity due to an increased moisture compaction level at the newly commissioned Chinchn tailings facility, resulting from the aforementioned heavy rainfall. Once the remediation and monitoring activities, which took approximately 22 days, were completed and both Nyrstar and the Peruvian mining authorities were satisfied with the outcome, production began to ramp back up (at the start of June) to full capacity. Tragically
and despite the substantial amount of work that has been carried out to improve safety since the mine’s first operational fatality in Q2 2011, the Coricancha mine suffered its second operational mine fatality when a worker was fatally injured in an underground mining accident. As part of
Nyrstar’s on-going work to ensure class leading safety standards, Nyrstar has engaged a leading international mining consultancy to conduct a comprehensive safety audit of Nyrstar’s global underground mining operations. In H2 2011, the Coricancha mine achieved record levels of ore
production, having increased by 66% compared to H1 2011 mainly due to better control of dilution and improvements made to the tailings filter press.The East Tennessee Mines, although being fully ramped-up in 2011, produced approximately 49,000 tonnes of zinc in concentrate (down 2%
compared to 2010). The production from the East Tennessee Mines was less than originally expected by Nyrstar’s management, principally due to unplanned downtime on fixed plant infrastructure and underground mobile equipment and the zinc mill head grade falling from 3.50%
to 3.41%. All of these factors combined resulted in lower than expected volumes of ore being milled and reduced contained metal production. The Middle Tennessee Mines continued with their ramp-up to full production capacity in 2011 with the de-watering completed on-schedule at the
Elmwood mine during Q3 2011 and new mobile fleet equipment delivered late in Q4 2011.
Environmental Compliance Coricancha (Peru):
Continued relocation of tailings from the existing location upgradient of the process plant to the Chinchan facility remote from the plant as part of actions agreed after land instability issues in 2007
https://www.terradaily.com/reports/Peru_fears_environmental_mining_disaster_999.html 
First phase of implementation achieved in Q4 2012; at Coricancha reduced employee and contractor headcount by approximately 1,000
April 30, 2014
Nyrstar 2013 Mineral Resource and Mineral Reserve Statement
Nyrstar initiated a strategic review of its Mining segment in the second half of 2013. As an outcome of the review, Coricancha and Pucarrajo were identified as non-core mining assets, and are therefore not included in this disclosure. During the third quarter of 2013, Coricancha was placed on care and maintenance, and Nyrstar has not mined Pucarrajo since its acquisition in 2010. The mining strategic review remains ongoing with a further update expected in the second half of 2014.