June 7, 2017 / 12:02 AM / a year ago

Peru miner Volcan seeks copper opportunities to diversify

LIMA, June 6 (Reuters) - Volcan, Peru’s largest producer of silver and zinc, seeks new opportunities in copper projects to diversify its operations and is also evaluating acquisitions, an executive said on Tuesday.

Among the company’s plans, Jose Montoya, manager of corporate development, highlighted the Chumpe and Carhuacayán porphyry copper projects in Junin region as well as copper and gold project Rica Cerreña in Pasco.

“We are looking to increase diversification in copper opportunities,” Montoya said in a presentation at the MinPro forum.

He said Volcan is also looking at acquisitions that could provide “fast” value.

“We are investing heavily in exploration in 2017 to discover the potential we have in copper. We are betting on an aggressive drilling plan ... 30 percent of this will be destined to uncover copper opportunities,” he added.

Volcan last year produced some 273,400 metric tons of zinc, down 4.1 percent from 2015, as well as 22 million ounces of silver, down 11.4 percent from the previous year. (Reporting by Teresa Cespedes; Writing by Caroline Stauffer; Editing by Leslie Adler)

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