Peruvian precious metals mining company Compañia de Minas Buenaventura has obtained the final operating permit for its Yumpag mine.

Issued by the Peruvian Ministry of Energy and Mines, this permit signifies the completion of Buenaventura’s rigorous planning and preparation for the mine.

The Yumpag mine is situated near the Uchucchacua Unit in the district of Yanahuanca, province of Daniel Alcides Carrión, region of Pasco.

It is expected to operate at a rate of 1,000tpd, aligning with Buenaventura’s 2024 production forecast of 6.5–7.2 million ounces of silver.

The Yumpag mine comprises a series of intermediate-sulphidation veins that are predominantly north-east-running and tensional to the Cachipampa fault, which controls the mineralisation in the Uchucchacua Mine.

Buenaventura CEO Leandro Garcia said: “Securing the necessary project stages and approvals in a timely manner demonstrates our readiness to capitalise on opportunities and execute strategic objectives with precision.

“We are very enthusiastic about Yumpag’s future prospects to produce high-grade silver resources, with promising exploration campaigns.

“We have therefore achieved a key pillar to support Buenaventura’s overall growth strategy which, coupled with our focus on operational excellence and commitment to responsible resource management, position us to unlock significant value for our stakeholders."

Currently, Buenaventura operates several mines in Peru. These include Coimolache, El Brocal, Julcani, La Zanja, Orcopampa, Tambomayo and Uchucchacua.

Last year, Buenaventura paused mining operations at the Tajo Norte mine in the Colquijirca district, Pasco province, for up to three years owing to a delay in the approval of Colquijirca's Modification of Environmental Impact Assessment.