Can you update us on the current state of operations in the Cerro de Pasco region?

Cerro de Pasco Resources currently owns the El Metalurgista concession, which includes the Quiulacocha Tailings and Excelsior Stockpile with approximately 90 million tons of deposits. Obtaining the necessary permits to start mining operations from scratch can take years, but because we are mining a tailings facility, we can start drilling much faster. We have already received approval from the Ministry of Energy and Mines to carry out 40 boreholes, which will commence once the rainy season ends in May. We will be using sonic drilling, which is less affected by high water levels. We are eager to begin drilling and are aware of the high level of expectation in the region regarding the positive environmental and economic impacts.

Our primary focus will be on reprocessing and cleaning the tailings initially, which will remove harmful toxins and create new economic activities. The Quiulacocha tailings produce acid water that is harmful to both the environment and nearby communities. Many inhabitants suffer from lead poisoning due to lead residue in the urban environment, which causes chronic illnesses in children in particular. Our objective is to produce a dollar of wealth per ton of waste in this project.

How do Cerro de Pasco Resources’ operations on tailings facilities benefit the local communities?

By reprocessing and cleaning the tailings, we will remove harmful toxins and create new economic activities. The communities in Cerro de Pasco have been negatively impacted by mining activities for generations, and we are committed to generating better health and economic improvement. Our objective is to produce a dollar of wealth per ton of waste in this project. It is not uncommon to hear about communities fighting mining operations in Peru, but in our case, the people of Cerro de Pasco are pushing for this project to move forward and are helping us to obtain the necessary permits.

What significance does the Santander mine hold in Cerro de Pasco Resources’ portfolio?

While our tailings work remains an integral part of Cerro de Pasco Resources’ identity, we purchased the Santander mine from Trevali Mining Corporation to help with our transition from a junior to a senior resource company. The acquisition provided an immediate revenue stream as well as engagement in a strategic sense. We plan to acquire more operating mines to integrate into our portfolio to supplement our work on tailings and stockpiles.

What role does technology play in the viability of this type of work?

Technology has played a significant role in making our operations more efficient at extracting metals. The tools that mining companies used in Cerro de Pasco over previous centuries were less efficient, leaving behind tailings that still hold a significant amount of value. This is a primary factor contributing to how we can make such a profitable operation out of what is typically regarded as waste. Additionally, given the use of new techniques and equipment, we believe we will even find rare metals like bismuth and germanium in the tailings. Cerro de Pasco Resources is one of the pioneers bringing this approach to Peru.

What are the company’s key priorities for 2022 and its growth strategy for the coming years?

Our primary goal for 2022 is to consolidate the remaining permits we need to begin work on the tailings, which we are close to accomplishing. We will continue to strengthen our operations at the Santander mine and purchase another mine in Peru. Cerro de Pasco Resources has significant potential for growth through acquisitions.