Cobre del Mayo is a Mexican mining company that operates the Piedras Verdes open-pit copper mine (“PV mine”), the third largest copper mine in Mexico as measured by production. It produces LME Grade A copper cathode and sells certain types of ore for concentration. It operates a run-of-mine (ROM) heap leach, crushed ore heap leach, and sells high-grade crushed ore for flotation as a function of grade, mineralization and other characteristics.
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.
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.
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.