Caylloma Mine, Peru

Steady performance from our smallest mine


Our Caylloma Mine in the Caylloma District of Arequipa, Peru, produces silver, gold, zinc, and lead. The underground mine is operated by Compania Minera Bateas S.A.C. (Bateas), a Peruvian subsidiary 100% owned by Fortuna. The deposit is a low to intermediate sulfidation epithermal vein system, and, based on December 31, 2023 reserves the operation has a mine life of five years.

People have historically mined silver in the Caylloma District for over 500 years. Fortuna acquired the Caylloma Mine in 2005 and relaunched operations the following year after expanding and modernizing the processing plant in 2006. In 2016, the processing plant was upgraded to process 1,430 tonnes per day. In 2023, the mine produced 1.23 million ounces of silver, and record base metal production of 40.8 million pounds of lead, and 55.1 million pounds of zinc.

For more than 16 years, our Caylloma Mine has provided jobs and economic benefits to support sustainable development in the district of Caylloma. In 2023, we employed 1,086 direct employees and contractors. We also partnered with 40 local suppliers.

Caylloma Mine Video


Silver, zinc, lead





tonnes milled in 2023

Claim block area



Deposit type

Intermediate sulphidation epithermal deposit

Mining method

Underground cut-and-fill

Operating highlights 202312024E1
Tonnes milled (000)544500
Average milled (tpd)1,5281,370
Silver production (Moz)1.20.9 – 1.1
Gold production (koz)
Lead production (Mlbs)40.829 – 34
Zinc production (Mlbs)55.136 – 39
AISC2,3,4 (US$/oz AgEq)19.9018.00 – 21.00


Our Caylloma mine is located in the Caylloma mining district, approximately 225 kilometers northwest of Arequipa, Peru (Latitude: 15° 12’ 15” S, Longitude: 71° 51’ 40” W). The site is 4,500 meters above sea level and includes the mine, a processing plant, and related infrastructure. The mine is connected to the national power grid, and mining occurs year-round.

At Caylloma, our freshwater source is the Santiago River. We focus on minimizing water collection and maximizing water reuse and include the local authorities and community members in participatory monitoring multiple times per year.

The mine is located 14 kilometers northwest of the town of Caylloma, our nearest neighbor. Our relationship with the residents and local government in Caylloma is built on dialogue, engagement and transparency.

Geology and mineralization

More than 15 major silver and base metal-rich epithermal vein sets have been identified within the Caylloma district. The veins are hosted by Tertiary calc-alkaline andesitic volcanic sequences that unconformably overlie folded marine sediments. The veins are one to 25 meters wide, up to four kilometres long, typically trending north-easterly and dipping moderately to steeply to the southeast or northwest.

Mineral reserves

2.3 million tonnes

averaging 83 g/t Ag, 2.78% Pb, and 4.04% Zn

Refer to Mineral Reserves and Resources table below for full disclosure

Brownfields exploration

The Brownfields exploration program budget for 2024 at Caylloma is $2.0 million, supporting field exploration, regional geophysics, and ongoing studies of the structural controls to mineralization on the Animas vein.

Mineral reserves and resources

     Contained Metal 
PropertyClassificationTonnes (000)Ag (g/t)Au (g/t)Pb (%)Zn (%)Ag (Moz)Au (koz)
Mineral Reserves – Proven and Probable
Caylloma, Peru
Silver VeinsProven75832.200.770.940.10.5
 Proven + Probable564651.510.720.830.82.7
Polymetallic VeinsProven12740.203.093.590.00.1
 Proven + Probable2,233730.102.834.125.37.2
Combined-All VeinsProven202610.942.232.620.20.6
 Proven + Probable2,288830.132.784.046.19.9
Mineral Resources – Measured and Indicate
Caylloma, Peru
 Measured + Indicated1,786870.241.652.725.013.6
Mineral Resources – Measured and Indicate
Caylloma, PeruInferred4,505990.432.433.7014.462.8

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