The Piedras Verdes (“PV”) mine is an open-pit copper deposit located near Alamos, Sonora, Mexico (the northwestern part of Mexico) that started operations in 2006.
The PV deposit is mined by a conventional open-pit mining method. Mining follows a traditional drill, blast, load, haul, dump sequence with a mining rate is ~200 ktpd of material moved.
Since the acquisition by Invecture in 2009, Piedras Verdes has been transformed into a high quality copper producing asset and is the third largest copper mine in Mexico as measured by production.
Cobre del Mayo's strategy is to maintain a stable operation with low sustaining capital intensity, diversify its operational risk through its multiple processes and mining faces, take advantage of opportunities to reduce cash costs, and generate quality jobs for its people.
Cobre del Mayo operates the PV mine in a safe and environmentally responsible manner, maintaining sound and healthy relationships with the surrounding communities, with whom we strive to make a positive impact.
In 2012, Cobre del Mayo received the Clean Industry Certification issued by PROFEPA (the Ministry of the Environment), and in 2013 the Socially Responsible Business Certificate issued by CEMEFI (the Mexican Center for Philanthropy).
In March, 2020, mining operations were suspended in the context of low copper prices, high unit operating costs and negative operating cash flow. In February, 2021 when the price of copper exceeded $9,000/t, operations were restarted, Cobre del Mayo plans to reach a mining rate of 200,000 tpd and stable copper cathode production by July, 2021.