PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 1

PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO Edition: October | 31st | 2018

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 2

SYMBOLOGY AND ABBREVIATIONS

Weights and measurements Minerals tn Metric ton Ag Silver Kt Thousands of tons Au Gold Mt Million metric tons Cu Copper oz Ounce troy (31.1035 g) Fe Iron Koz Thousands of troy ounces Mo Molybdenum Moz Million troy ounces Pb Lead lb Pound Zn Zinc Klb Thousands of pounds Sn Tin Mlb Million pounds U Uranium m Meter Li Lithium km Kilometer P2O5 Phosphorus oxide (V) U3O8 Triuranium Octaoxide TMF Fine metric tons

Geographical abbreviations Production masl Meters above sea level g/t Grams per ton

oz/t Ounces per ton Currency ppm Parts per million US$ United States dollars MT/day Metric tons per day MMUS$ Million United States dollars MT/year Metric tons per year

Power and Energy Corporations MW Megawatts Inc. Incorporated MWA Annual Megawatts Int. International MVA Megavolt amperes Ltda. Limitada

Ltd. Limited

S.A. Limited Company Metallurgical processes S.A.A. Open Stock Corporation SX Solvent extraction S.R.L. Limited Liability Company EW Electrowinning S.A.C. Closed Stock Corporation Co. Company Stock Lp. Limited Partner Exchange NYSE New York Stock Exchange Corp. Corporation S.A.B de LSE London Stock Exchange Variable Stock Corporation C.V. TSX Toronto Stock Exchange

Entities Environmental Management Instruments National Service of Environmental SENACE IGA Environmental Management Instrument Certification for Sustainable Investments

Ministry of Energy and Mines MINEM SUNAT EIA Environmental Impact Assessment

EIAd Detailed Environmental Impact Assessment Semi-detailed Environmental Impact Reserves and Resources EIAsd Assessment (P&P) Proven and Probable ITS Sustainability Technical Report EIAm Modified Environmental Impact Assessment (M&I) Measured and indicated Detailed Modified Environmental Impact EIAdm Assessment Semi detailed Modified Environmental Impact EIAsd Assessment

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 3 EXECUTIVE SUMMARY

Mining has played a significant role in the country's economic growth in recent years. In 2017, it represented 9.9% of the national GDP, 8.6% of the revenues collected by the national tax agency SUNAT and 61.8% of the total value of national exports. Evidently, mining investments play a vital role in the Peruvian economy; therefore, the exploration of mineral resources and the construction of new projects are encouraged, as the prosperity of the industry will in hand contribute to the country’s development. Consequently, it is essential for Peru to have a vision about the potential projects that will contribute to the development of this activity in the coming years.

This Second Edition of the 2018 Mine Construction Project Portfolio consists of 48 projects, with a global investment amount of US$ 59,134 billion, registering an increase of US$ 627 million compared to the previous edition.

The increase is due to the incorporation of two new projects, as well as investment adjustments made by mining companies. Likewise, two mining projects found in the First Edition were not considered in this edition as they completed the construction phase during the current year: Ampliacion Marcona (US$ 1,100 billion) and Ampliacion Shahuindo (US$ 109 million).

It is worth mentioning that at the end of 2017, US$ 3,780 billion had already been executed in the development of the 48 projects, leaving US$ 55,354 billion to be invested in the coming years.

Out of the 48 projects in the portfolio, seven are under construction and it is expected that one will complete this stage by the end of this year (Ampliacion Toquepala). Six of the projects began construction in 2018, committing US$ 8,880 billion. Additionally, it is expected that six projects will begin construction in 2019.

Finally, 24 projects still have no scheduled start date due to factors associated with the development process of the projects (EIAs and Feasibility Studies in process, additional explorations, design changes, land acquisition, search for financing or interruption due to social conflicts).

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 4

INDEX

SYMBOLOGY AND ABBREVIATIONS ………………………………………. 2 EXECUTIVE SUMMARY ………………………………………………………... 3 INDEX ……………………………………………………………………………… 4

I. INTRODUCTION ………………………………………………………… 5

II. MINE CONSTRUCTION PROJECT PORTFOLIO …………………. 6 2.1. Start of construction of the projects …………………………………… 8 2.2. Investments according to project location …………………………….. 9 2.3. Investments according to the country of origin of the main investor .. 10 2.4. Investments according to the type of project …………………………. 11 2.5. Investments according to the stage of progress of the project ……... 13 2.6. Investments according to the type of mine …………………………… 14 2.7. Investments according to the status of the Environmental Impact Assessment …………………………………... 15 2.8. Investments according to the ore to be extracted ……………………. 16

III. ANNUAL INVESTMENT PROJECTION ……………………………… 17 3.1. Investments executed until 2017 ……………………………………….. 17 3.2. 2018-2021 Investment projections …………………………………….. 18 3.3. Investment projection after 2021 ……………………………………….. 19

IV. CHANGES RECORDED IN THE PORTFOLIO ……………………… 19

ANNEX 1: METHODOLOGY …………………………………………………… 21

ANNEX 2: Technical specifications of the projects …………………………. 23

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 5 I. INTRODUCTION

The General Department of Mining Promotion and Sustainability is pleased to present the update of the Mine Construction Projects Portfolio with 48 projects and investments amounting to US$ 59,134 billion. These investments include greenfield (new mines), brownfield (existing mines) and tailings reuse projects.

In this publication, an analysis of the investments will be made according to the project’s main characteristics, in order to present an estimated projection of the investments in the coming years and explain the variations compared to the Portfolio’s first edition published in March 2018.

In addition, technical specifications have been prepared for each project, detailing general data, location, investment, technical components, as well as the description of the current situation, among others.

Section II provides information about the mining construction projects portfolio according to the year operations began, location, investor’s nationality, stage of progress, type of mine, type of ore to be extracted, among others.

Meanwhile, Section III presents the annualized projection of investments in three periods: investments executed until 2018, investments to be executed between 2018 and 2021, and investments to be executed after 2021.

Then, Section IV describes the main changes that were registered compared to the first edition of the 2018 Portfolio. Finally, the Annexes present the methodological aspects and the technical specifications of the projects.

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 6 II. MINE CONSTRUCTION PROJECTS PORTFOLIO

The Mine Construction Projects Portfolio consists of 48 projects, whose total global investments amount to US$ 59,134 billion. This portfolio includes those projects focused on greenfield (new mines), brownfield (existing mines) and tailings reuse projects. Additionally, these projects meet three requirements:

i. Investment (CAPEX) greater than US$ 70 million ii. Start of operation or start-up in the next 10 years iii. Have their pre-feasibility studies prepared or in progress

Out of the 48 projects, seven are in the construction phase, with total global investments at around US$ 10,135 billion; five in the detailed engineering phase, with investments at US$ 4,935 billion, 14 in the feasibility phase, with US$ 14,626 billion, and the remaining 22 are in pre-feasibility, with US$ 29,439 billion.

When categorized by mine type, there are 32 open-pit projects, eight underground mining operations and five combined operations (open and underground). In addition, there are three projects, one of which corresponds to the construction of a new beneficiation plant for the treatment of tailings, that have not been defined yet.

According to the status of its Environmental Management Instrument (EMI) for preparation, development, construction and/or exploitation activities, there are 22 projects that have a Detailed Environmental Impact Assessment (DEIA), six are under development, one is under evaluation and 19 are still pending preparation.

The classification according to the mineral to be extracted indicates that 27 of the projects are copper, representing 71% of the investments. Secondly, there are seven gold projects with a 12% share of investments. Among other main minerals to be exploited there are iron, phosphate, zinc, silver, lithium and tin projects.

Table 1 presents a summary of the main details of the portfolio projects:

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 7

Table 1: Mine Construction Projects Portfolio (31.10.2018)

Total Start of Start of Project Operator Region Main ore Progress investment construction operations (US$ million) Southern Peru Copper Corporation, Sucursal 2018 Ampliacion Toquepala Tacna Copper Construction 1,255

del Peru

2019 Quecher Main Minera Yanacocha S.R.L. Cajamarca Gold Construction 300 2019 Relaves B2 San Rafael S.A. Puno Tin Construction 200 2020 Ampliacion Toromocho Minera Chinalco Peru S.A. Junin Copper Construction 1,355 2020 Ariana Ariana Operaciones Mineras S.A.C Junin Copper Construction 125 In construction In 2020 Mina Justa Marcobre S.A.C. Ica Copper Construction 1,600 2022 Quellaveco Anglo American Quellaveco S.A. Moquegua Copper Construction 5,300 2020 Ampliacion Santa Maria Compañia Minera Poderosa S.A. La Libertad Gold Detail engineering 110 2021 Optimizacion Lagunas Norte Minera Barrick Misquichilca S.A. La Libertad Gold Detail engineering 640 2022 Ampliacion Pachapaqui ICM Pachapaqui S.A.C. Ancash Zinc Feasibility 117 2019 2022 Corani Bear Creek Mining S.A.C. Puno Silver Detail engineering 585 2022 Integracion Coroccohuayco Compañia Minera Antapaccay S.A. Cusco Copper Feasibility 590 Southern Peru Copper Corporation, Sucursal 2022 Tia Maria Arequipa Copper Detail engineering 1,400 del Peru 2023 Pampa de Pongo Jinzhao Mining Peru S.A. Arequipa Iron Detail engineering 2,200 2020 2023 Yanacocha Sulfuros Minera Yanacocha S.R.L. Cajamarca Copper Pre-Feasibility 2,100 2023 Zafranal Compañia Minera Zafranal S.A.C. Arequipa Copper Feasibility 1,157 2023 Anubia Anubia S.A.C. Apurimac Copper Pre-Feasibility 90 Southern Peru Copper Corporation, Sucursal 2023 Los Chancas Apurimac Copper Pre-Feasibility 2,800 del Peru 2021 2023 Quicay II Corporacion Minera Centauro S.A.C. Pasco Gold Pre-Feasibility 400 2023 San Gabriel (Ex Chucapaca) Compañia de Minas Buenaventura S.A.A. Moquegua Gold Pre-Feasibility 431 2024 Fosfatos Pacifico Fosfatos del Pacifico S.A. Piura Phosphate Feasibility 831 2024 Haquira Minera Antares Peru S.A.C. Apurimac Copper Pre-Feasibility 1,860 2023 Magistral Nexa Resources Peru. S.A.A. Ancash Copper Feasibility 480 2022 Southern Peru Copper Corporation, Sucursal 2025 Michiquillay Cajamarca Copper Pre-Feasibility 2,500 del Peru Ampliacion Bayovar Compañia Minera Miski Mayo S.R.L. Piura Phosphate Feasibility 300 Antilla Panoro Apurimac S.A. Apurimac Copper Pre-Feasibility 250 AZOD (Accha y Yanque) Exploraciones Collasuyo S.A.C. Cusco Zinc Pre-Feasibility 346 Bayovar 12 Juan Paulo Quay S.A.C Piura Phosphate Pre-Feasibility 168 Cañariaco (Norte) Cañariaco Copper Peru S.A. Lambayeque Copper Feasibility 1,600 Cañón Florida (Ex Bongará) Nexa Resources Peru. S.A.A. Amazonas Zinc Feasibility 214 Conga Minera Yanacocha S.R.L. Cajamarca Gold Feasibility 4,800 Cotabambas Panoro Apurimac S.A. Apurimac Copper Pre-Feasibility 1,533

Don Javier Junefield Group S.A. Arequipa Copper Pre-Feasibility 600

El Galeno Lumina Copper S.A.C. Cajamarca Copper Pre-Feasibility 3,500 El Padrino e Hilarión Nexa Resources Peru. S.A.A. Ancash Zinc Feasibility 470 Fosfatos Mantaro Mantaro Peru S.A.C. Junin Phosphate Pre-Feasibility 850 Hierro Apurimac Apurimac Ferrum S.A. Apurimac Iron Pre-Feasibility 2,900

La Granja Rio Tinto Minera Peru Limitada S.A.C. Cajamarca Copper Pre-Feasibility 5,000

To To be defined To be defined Los Calatos Minera Hampton Peru S.A.C Moquegua Copper Pre-Feasibility 655 Macusani Macusani Yellowcake S.A.C. Puno Lithium Pre-Feasibility 800 Ollachea Minera Kuri Kullu S.A. Puno Gold Feasibility 178 Pukaqaqa Nexa Resources Peru. S.A.A. Huancavelica Copper Pre-Feasibility 706 Quechua Compañia Minera Quechua S.A. Cusco Copper Feasibility 1,290 Racaycocha Sur Minera Peñoles de Peru S.A. Ancash Copper Pre-Feasibility 1,000 Rio Blanco Rio Blanco Copper S.A. Piura Copper Feasibility 2,500 Rondoni Compañia Minera Vichaycocha S.A. Huánuco Copper Pre-Feasibility 250 San Luis Reliant Ventures S.A.C. Ancash Silver Feasibility 100 Trapiche El Molle Verde S.A.C. Apurimac Copper Pre-Feasibility 700 TOTAL (48 projects) 59,134

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 8

2.1. BEGINNING OF PROJECTS CONSTRUCTION

Currently, there are seven mining projects in the construction phase, which accounts to a global investment of US$ 10,135 billion. Out of these projects, the most noteworthy projects are Ampliacion Toquepala, which is estimated to begin operations at the end of this year, and Quellaveco, with the largest investment amount at US$ 5,300 billion.

In 2019, it is estimated that the Corani project will start construction, with an investment of US$ 585 million. Additionally, the start of construction of four brownfield projects is expected for an investment equivalent to US$ 1,456 billion. These projects are: Optimizacion Lagunas Norte, Integracion Coroccohuayco and Ampliacion Pachapaqui, whilst it is expected that the Tia Maria project will start construction in this period after obtaining the corresponding construction permit.

By 2020, it is expected that the Yanacocha Sulfuros, Zafranal and Pampa de Pongo projects will commence construction, committing a joint investment of US$ 5,457 billion.

Also six projects would begin construction in 2021 for a total amount of US$ 6,412 billion. These are: Los Chancas, Anubia, Quicay II, San Gabriel, Pacific Phosphates and Haquira.

2018 2019 2020 2021

US$ 10,135 billion • Ampliacion Toquepala • Quecher Main • Relaves B2 San Rafael • Ampliacion Toromocho • Ariana • Mina Justa • Quellaveco US$ 3,441 billion Ampliacion Santa Maria • Optimizacion Lagunas Norte • Corani • Integracion Coroccohuayco • Ampliacion Pachapaqui • Tia Maria

US$ 5,457 billion

• Yanacocha Sulfuros • Zafranal • Pampa de Pongo

US$ 6,412 billion

• Los Chancas • Anubia • Quicay II • San Gabriel • Fosfatos Pacifico • Haquira

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 9

2.2. INVESTMENTS ACCORDING TO PROJECT LOCATION

Similar to this year’s Mine Construction Projects Portfolio’s First Edition, mining projects are located in 17 regions nationwide. Cajamarca is positioned as the region with the largest share of the global amount of investments, representing 30.8% (US$ 18.2 billion), with a total of six projects. Among them, Quecher Main stands out since it began construction in the first quarter of 2018 and is expected to end in 2019.

Apurimac is located in second place, with investments amounting to US$ 10,133 million. It should be noted that this region hosts seven projects, becoming the region with most projects selected in the Portfolio. Hierro Apurimac (US$ 2,900 billion) and Los Chancas (US$ 2,800 billion), to be developed in the Andahuaylas and Aymaraes provinces, respectively, stand out for their investment amounts.

In Moquegua, there are three projects that together reach US$ 6,386 billion, representing 10.8% of the total investment in the Portfolio, where the Quellaveco project alone has an investment of US$ 5,300 billion.

Graph 02: Investment in mine construction projects according to their location

30.8% 0.4% US$ 214 million US$ 18,200 billion 1 project 6 projects 6.4% 0.4% US$ 250 million US$ 3,799 billion 1 project 4 projects

0.7% US$ 400 million 1 project

2.7% 3.9% US$ 2,330 billion US$ 1,600 billion 3 projects 1 project

1.3% 17.1% US$ 10,133 billion US$ 750 billion 7 projects 2 project

3.7% 3.8% US$ 2,226 billion US$ 2,167 billion 3 projects 5 project

2.7% 3.0% US$ 1,763 billion US$ 1,600 billion 4 projects 1 project

9.1% 2.1% US$ 1,255 billion US$ 5,357 billion 1 project 4 projects 1.2% 10.8% US$ 6,386 billion US$ 706 million 3 projects 1 project

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 10

Arequipa and Piura regions concentrate four projects each, with an investment of US$ 5,357 billion and US$3,799 billion respectively, representing a combined 15.5% share. Among these, the Pampa de Pongo project (US$ 2,200 billion), in the province of Caraveli, Arequipa, is in the detailed engineering phase; whilst Bayovar 12 is a new project considered in this edition of the Portfolio with an investment of US$ 167.7 million to be executed in the Sechura province, in the north of the country.

Among the regions with a share of more than 3% of investments are Junin (US$ 2,330 billion), Cusco (US$ 2,226 billion), Ancash (US$ 2,167 billion), and Puno (US$ 1,763 billion). In this group, within those projects which began construction in 2018, Ampliacion Toromocho, Ariana and Relaves 2 San Rafael projects stand out, committing US$ 1,680 billion.

The Ica region, with the Mina Justa project (US$ 1,600 billion), the Lambayeque region, with Cañariaco Norte project (US$ 1,600 billion) and the Tacna region, with Ampliacion Toquepala project (US$ 1,255 billion), have more than 2% of the global investment.

Finally, the regions of La Libertad, Huancavelica, Pasco, Huanuco and Amazonas represent 5% of the total investment in the Portfolio. The Pukaqaqa project stands out with an amount of US$ 2,320 billion.

2.3. INVESTMENTS CONSIDERING THE ORIGINAL INVESTORS´ COUNTRY

The origin of the investments of the Mine Construction Project Portfolio comes from 11 countries across four continents. In this Edition, the United Kingdom displaces China from the top position, due to the completion of the Ampliacion Marcona (US$ 1,100 billion), so the former project is no longer considered in this update. British investments represent 20.2% of investments in the Portfolio with five projects amounting to US$ 11,930 billion, where Anglo American plc and Rio Tinto plc stand out.

The investments coming from China amount to US$ 10,155 billion from a total of five projects. Zhongrong Xinda Group Co. Ltd. owns 100% of the Pampa de Pongo project that is in the detail engineering stage, while Aluminum Corporation of China Overseas Holdings Limited is financing AmpliacionToromocho that began construction in June of this year.

In third place, with a 15.3% share, Canada has the largest number of Portfolio projects according to the origin of the investments, among which are Haquira from First Quantum Minerals Ltd. (US$ 1,860 billion), Cañariaco (Norte) of Corp. (US$ 1,600 billion) and Cotabambas of Panoro Minerals Ltd. (US$ 1,533 billion).

On the other hand, Mexican investments constitute 15.1% of the Portfolio. Of the five projects with investments of Mexican origin, four of them belong to Grupo Mexico S.A.B. of C.V whose operator in Peru is Southern Peru Copper Corporation, Peruvian Branch.

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 11

Graph 03: Investment in mine construction projects according to the country of origin of the main investor

CANADA 15.3% UNITED KINGDOM US$ 9,038 billion 20.2% 11 projects US$ 11,930 billion 5 projects CHINA 17.2% US$ 10,155 billion 5 projects JAPAN 2.2% US$ 1,290 billion 1 project

USA SWITZERLAND 12.7% MEXICO 1.4% US$ 7,500 billion 15.1% US$ 840 million 4 projects US$ 8,955 billion 2 projects 5 projects KOREA 0.2% US$ 117 million PERU 1 project 7.4% US$ 4,362 billion AUSTRALIA 8 projects 5.2% BRAZIL US$ 3,078 billion 3.2% 2 projects US$ 1,870 billion 4 projects

12.7% of the investment comes from the United States, equivalent to US$ 7.5 billion, in which Newmont Mining Corporation has a stake in three of the four projects. In the case of national investments, Breca Group is of special importance as it participates in the Mina Justa project and owns the entire shareholding of the Relaves B2 San Rafael project.

Australia and Brazil together have 8.4% of investments. Australia's Strike Resources Limited stands out for its Hierro Apurimac project (US$ 2,900 billion) and Brazil's Nexa Resources participates in all four projects with Brazilian capital. Finally, investments from Japan, Switzerland and Korea amount to US$ 2,247 billion.

2.4. INVESTMENTS ACCORDING TO THE TYPE OF PROJECT

According to the type of project, they can be classified as either greenfield, which includes tailings reuse, and brownfield projects. Greenfield projects usually refer to new mine projects while brownfield projects are divided into expansion projects and replacement projects.

On one hand, 89% of the investments correspond to greenfield projects. In the Portfolio, 38 new mining projects are registered with an investment of US$ 52,368 billion, which represents 88%. According to investment amount, projects such as: Quellaveco (US$ 5,300

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 12 billion), La Granja (US$ 5,000 billion) and Conga (US$ 4,800 billion) stand out. On the other hand, there is only one tailings reuse project, Relaves B2 San Rafael with US$ 200 million.

Regarding the brownfield projects, they represent the remaining 11% of the global investment with 9 projects. The five expansion projects amount US$ 3,137 billion, among them are: Ampliacion Toquepala project (US$ 1,255 billion) close to completing its construction work and Ampliacion Toromocho project (US$ 1,355 billion) both began construction in June 2018 with an estimated start date of operation in 2020.

As for the replacement projects, there are four with an investment of US$ 3,630 billion. Yanacocha Sulfuros and Quecher Main, both projects undertaken by Minera Yanacocha S.R.L amounting up to US$ 2,400 billion and will be developed in the footprint of the current Yanacocha mining unit in Cajamarca. While, Optimizacion Lagunas Norte (US$ 639.8 million) is a project of technological optimization and Integracion Coroccohuayco whose official name is "Antapaccay Project, Ampliacion Tintaya, Integracion Coroccohuayco" seeks to increase the useful life of the Tintaya unit.

Graph 04: Investment in mine construction projects according to the type of project

US$ 59,134 billon 48 projects 89% 11%

NEW PROJECTS EXPANSION REPLACEMENT

• Ariana • Tia Maria • Mina Justa • Cañariaco (Norte) • Ampliacion Toquepala • Quecher Main • Quellaveco • Cañón Florida • Ampliacion Toromocho • Optimizacion Lagunas • Corani • Conga • Ampliacion Santa Maria Norte • Anubia • Cotabambas • Ampliacion Pachapaqui • Integracion Coroccohuayco • Zafranal • Don Javier • Ampliacion Bayovar • Yanacocha Sulfuros • Pampa de Pongo • El Galeno • Los Chancas • El Padrino and • Quicay II Hilarion • San Gabriel • Fosfatos Mantaro • Fosfatos Pacifico • Hierro Apurimac • Haquira • La Granja • Magistral • Los Calatos • Michiquillay • Macusani • Pukaqaqa • Ollachea • Trapiche • Quechua • Antilla • Racaycocha Sur • AZOD (Accha and • Rio Blanco Yanque) • Rondoni • Bayovar 12 • San Luis

REUTILIZATION PROJECTS

• Relaves B2 San Rafael

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 13

2.5. INVESTMENTS ACCORDING TO THE PROJECT PROGRESS STAGE

According to the progress, seven projects are under construction. Ampliacion Toquepala plans to complete this stage in November 2018. As for the remaining six projects, construction has begun this year, so the closest construction goal, after the Ampliacion Toquepala project, is from the Quecher Main project (US$ 300 million) and Relaves B2 San Rafael (US$ 200 million), scheduled for 2019.

It is noteworthy that in the First Edition of the 2018 Portfolio, the start of operation of three projects was planned, among which was Ampliacion Toquepala, the other two projects, Ampliacion Marcona (US$ 1,100 billion) and Ampliacion Shahuindo (US$ 109 million) completed their construction during the defined period, so they are no longer considered in the update.

Graph 05: Investment in mine construction projects according to their progress

Pre-feasibility Feasibility Detailed engineering Construction

17% 50% 25% 8%

• Ampliacion Pachapaqui • Ampliacion Santa Maria • Ampliacion Toquepala • Anubia • Integracion • Optimizacion Lagunas • Quecher Main • Yanacocha Coroccohuayco Norte • Relaves B2 San Rafael Sulfuros • Zafranal • Corani • Ampliacion • Los Chancas • Fosfatos Pacifico • Pampa de Pongo Toromocho • Quicay II • Magistral • Tia Maria • Ariana • San Gabriel • Ampliacion Bayovar • Mina Justa • Haquira • Cañariaco (Norte) • Quellaveco • Michiquillay • Cañón Florida • Pukaqaqa • Conga • Trapiche • El Padrino e Hilarión • Antilla • Ollachea • AZOD • Quechua • Bayovar 12 • Rio Blanco • Cotabambas • San Luis • Don Javier • El Galeno • Fosfatos Mantaro • Hierro Apurimac • La Granja • Los Calatos • Macusani • Racaycocha Sur • Rondoni

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 14

Out of the nine projects that were scheduled to begin construction in 2018, six of them have already begun to execute this phase, with a total committed amount of US$ 8,880 billion.

The five projects that are in detailed engineering have a total investment of US$ 4,935 billion. Among them, those which have advanced one stage are, Ampliacion Santa Maria (US$ 110 million) and Optimizacion Lagunas Norte (US$ 639.8 million).

14 projects are located in the feasibility stage, with an investment of US$ 14,626 billion, representing 25% of the investment in the Portfolio. The majority of the projects are in the pre-feasibility stage, thus representing the highest percentage of investment, with 50% of the total.

2.6. INVESTMENTS ACCORDING TO THE TYPE OF MINE

Most of the projects selected in the Portfolio use the open pit method, so there are 32 mines that would be developed using this method, which total US$ 49.650 billion and represent 84% of the total investments. The projects for the exploitation of non-metallic minerals such as Ampliacion Bayovar (US$ 300 million) and Fosfatos Mantaro (US$ 850 million) use open- pit mining.

The underground mine method will be used in eight mines with an investment of US$ 2,289 billion and a 4% share. Los Calatos (US$ 655 million), operated by Minera Hampton Peru S.A.C, is the project with the highest investment value in underground mining.

Graph 06: Investment in mine construction projects according to the type of mine

Open-pit Open-pit and To be defined/Not Underground underground applicable

5 3

32 8

• Ampliacion • Pukaqaqa • Trapiche • Ariana • Quecher Main • Relaves B2 Toquepala • Ampliacion • Integracion San Rafael • Ampliacion • Ampliacion Bayovar Pachapaqui Coroccohuayco • Macusani Toromocho • San Gabriel (Ex • Yanacocha • Racaycocha • Mina Justa • Antilla • Bayovar 12 Chucapaca) Sulfuros Sur • Quellaveco • Cañón Florida • Haquira • Ampliacion Santa • Cañariaco (Norte) • Conga (Ex Bongara) • AZOD (Accha and Maria • El Padrino e Yanque) • Optimizacion • Cotabambas • Don Javier Hilarión Lagunas Norte • Los Calatos • Corani • El Galeno • Fosfatos Mantaro • Ollachea • Anubia • San Luis • Zafranal • Hierro Apurimac • Pampa de Pongo • La Granja • Los Chancas • Quechua • Quicay II • Rio Blanco • Fosfatos Pacifico • Rondoni • Michiquillay • Tia iMaria

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 15

Additionally, there are five projects that will use both methods, among them Quecher Main (US$ 300 million) that has already completed the construction of an underground tunnel and Integracion Coroccohuayco (US$ 590 million) that will use elements from the Tintaya mining unit.

Finally, Macusani (US$ 800 million) and Racaycocha Sur (US$ 1,000 billion) have not yet defined which of the two methods will be used. While, Relaves B2 San Rafael, as it is a tailings reuse project does not apply any of the conventional methods.

2.7. INVESTMENTS ACCORDING TO THE STATUS OF THE ENVIRONMENTAL IMPACT ASSESSMENT

According to the status of the Environmental Impact Assessment (EIA), which is an Environmental Management Instrument (IGA), 22 projects already have approval from the competent entity, amounting to US$ 25,112 billion with a 42% participation.

Regarding the Integracion Coroccohuayco´s EIA (US$ 590 million), it is under evaluation and the mining owner is coordinating with the National Service of Environmental Certification for Sustainable Investments (SENACE, for its Spanish acronym).

The projects that are currently preparing their EIA are six with an investment amount of US$ 5,765 billion, which represents 10% of the global investment value. Zafranal (US$ 1,157 billion) stands out in this group for its investment to be executed; the project operator plans to finish the EIA in the first quarter of 2019.

The investment amount of the 19 projects that have not yet submitted nor are preparing the EIA, amounts to US$ 27,667 billion.

Graph 07: Investment in mine construction projects according to the status of its Environmental Impact Assessment (EIA)

EIA not submitted EIA in preparation/evaluation EIA approved

• Michiquillay • El Galeno • Integracion • Ampliacion Toquepala • Trapiche • Fosfatos Mantaro Coroccohuayco • Quecher Main • Antilla • Hierro Apurimac • Anubia • Relaves B2 San Rafael • AZOD • La Granja • Zafranal • Ampliacion Toromocho • Bayovar 12 • Macusani • Haquira • Ariana • Cañariaco (Norte) • Quechua • Cotabambas • Mina Justa • Cañón Florida • Racaycocha Sur • El Padrino e Hilarión • Quellaveco • Don Javier • Rio Blanco • Los Calatos • Ampliacion Santa Maria • Rondoni • Optimizacion Lagunas Norte • Corani General Department of Mining Promotion and Sustainability • Ampliacion Pachapaqui PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 16

2.8. INVESTMENTS ACCORDING TO THE ORE TO BE EXTRACTED

The main ore to extract is copper, 27 of the 48 projects have this metal as its most important product, and the sum of these projects is US$ 42.196 billion. Ariana (US$ 125 million), Mina Justa (US$ 1,600 billion) and Quellaveco (US$ 5,300 billion) are copper projects that are already under construction.

The second ore to extract is gold, the portfolio includes 7 gold projects that represent 12% of the global investment. As an example, San Gabriel (Ex Chucapaca) will contribute with 150,000 fine ounces of gold. Currently, there are only two iron projects which are Pampa de Pongo (US$ 2,200 million) and Hierro Apurimac (US$ 2,900 million), together represent a 9% share.

At the same time, the phosphate project Bayovar 12 (US$ 167.7 million) has increased, , which is why the Portfolio currently includes four projects with a global investment of US$ 2,149 billion. As for the zinc, silver, uranium/lithium and tin projects, they have a distribution percentage of 5% as a whole, with a total of eight projects.

Graph 08: Investment in Mining Construction Projects according to the main Ore to be Extracted

/ LITIO

71% 12% 9% 4% 2% 1% 1% 0.3%

US$ 200 million US$ 685 US$ 800 US$ 1,146 US$ 2,149 million million Relaves B2 US$ 6,858 US$ 5,100 millones billion San Rafael US$ 42,196 billion billion Macusani billion millones millones billion San Luis y Corani

millones Ampliacion Pachapaqui, AZOD (Accha y Yanque Cañón Florida (Ex Bongará) y El Padrino e Hilarión

Fosfatos Pacifico, Ampliacion Bayovar, Bayovar 12 y Fosfatos Pampa de Pongo y MantaroHierro ApurimacMantaro

Quecher Main, Ampliacion Santa Maria, Optimizacion Lagunas Norte, Quicay II, San Gabriel (Ex Chucapaca), Ollachea y Conga

Ampliacion Toquepala, Ampliacion Toromocho, Ariana, Mina Justa, Quellaveco, Integracion Coroccohuayco, Anubia, Yanacocha Sulfuros, Zafranal, Los Chancas, Haquira, Magistral, Michiquillay, Pukaqaqa, Trapiche, Antilla, Cañariaco (Norte), Cotabambas, Don Javier, El Galeno, La Granja, Los Calatos, Quechua, Racaycocha Sur , Rio Blanco, Rondoni y Tia Maria.

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 17 III. ANNUAL INVESTMENT PROJECTION

This section analyzes the estimated investment projections of the projects in the portfolio, out of the US$ 59,134 billions of global investment, US$ 3,780 billion (6.4%) were invested in 2017, remaining US$ 55,354 billion (93.6%) pending to invest, which have been running since 2018.

For a better analysis, the investment periods have been divided in three:

a) Investments executed until 2017: US$ 3,780 billion (6.4% of the total amount of investments) b) Investments to be executed between 2018 and 2021: US$ 13,893 billion (23.5% of the global amount of investments) c) Investments to be executed after 2021: US$ 41,461 billion (70.1% of the total amount of investments)

Graph: Estimated projection of new investments (Millions of US$)

41,461

13,893

3,780

Executed up to 2017 2018-2021 After 2021

3.1. INVESTMENTS EXECUTED UNTIL 2017

At the end of 2017, the amount of investment executed amounted to US$ 3,780 billion, representing 6.4% of the total amount of investments and corresponding to eight projects. In this regard, the investment made in Ampliacion Toquepala project was the most important, with the highest percentage of execution due to the start of operations at the end of 2018.

Table 02: Investment executed until 2017

Investment Total investment executed as of Project 2017 % of execution (million US$) (million US$) Ampliacion Toquepala 1,255 879 70% Quecher Main 300 33 11% Relaves B2 San Rafael 200 15 8% Ampliacion Toromocho 1,355 191 14% Mina Justa 1,600 58 4% Quellaveco 5,300 1,013 19% Conga 4,800 1,237 26% Tia Maria 1,400 354 25% TOTAL 16,210 3,780 23%

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 18

3.2. PROJECTION OF INVESTMENTS FOR 2018-2021

The projection of investments for the 2018-2021 period amounts to US$ 13,893 billion, representing 23.5% of the global amount of investments foreseen in the portfolio. These estimates do not include the investments for sustaining and optimizing current operations, nor exploration investments.

In 2018, an investment of US$ 1,311 billion is expected, representing 9.4% of the total investments to be made in the 2018-2021 period. This year, one project will be finalizing its construction, whilst six others will commence. It is noteworthy that two projects from the previous edition, Ampliacion Marcona and Ampliacion Shahuindo, have completed the construction phase during this year.

In 2019, an investment of US$ 3,043 billion is projected, meaning a growth of 132.1% compared to the previous year. This substantial increase is estimated as result of the expectation of higher disbursements from companies that have started construction in 2018 such as Quellaveco, Mina Justa, Ampliacion Toromocho, among others. Likewise, six projects are expected to begin construction.

Thus, in the year 2020 the positive trend continues with US$ 4,751 billion, meaning a growth of 56.1% compared to the previous year. Although, only three projects will start construction in said year, they have a joint global investment of US$ 5,457 billion that would be executed by 2023. In addition, the sustained growth of annual investments in large projects would support this result.

Finally, an investment of US$ 4,787 billion is expected in 2021, representing 34.5% of the period. Although, there is a slight increase of 0.8% compared to the previous year, said year will see the investment consolidation of large projects by their beginning of operations. Additionally, it is expected to have committed the investment of 15 projects, which together with the joint investment in projects that are under construction in 2018 (Ampliacion Toquepala, Quecher Main, Relaves San Rafael, Ampliacion Toromocho, Ariana, Mina Justa and Quellaveco) and the investment made in the development of the projects that will end construction this year (Ampliacion Marcona and Ampliacion Shahuindo Fase II), would represent a global investment of more than US$ 21,000 billion by 2021.

Graph: Annual investment projection 2018-2021 (Billion US $)

4,751 4,787

3,043

1,311

2018 2019 2020 2021

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 19

3.3. INVESTMENTS PROJECTION AFTER 2021

The projection of investments in projects as of the year 2022 amounts to US$ 41,461 billion, representing 70.1% of the global amount of investments. In 2022 the start of construction of two projects is estimated: Magistral and Michiquillay that would commit an investment of US$ 2,980 billion. Likewise, there are US$ 30,709 billion corresponding to 24 projects that have not yet defined a construction start date.

IV. CHANGES RECORDED IN THE PORTFOLIO

In this chapter, a comparison of the current portfolio will be made in relation to the First Edition of the Mine Construction Projects Portfolio published on March 1, 2018 in order to observe its evolution. To do this, the changes occurred compared to the previous edition will be analyzed.

The total investment of the Second Edition of the project portfolio amounts to US$ 59,134 billion, considering 48 projects located in 17 regions of the country. This means a total increase of the estimated global investment of US$ 627 million compared to the US$ 58,507 billion considered in the first edition.

COMPARISON OF THE MINE PROJECT PORTFOLIO (1st and 2nd Edition)

Below is a list of the main changes that have taken place.

1. The implementation of two of the three projects planned for this year in the previous edition was carried out. It should be noted that the total investment in the construction of the Ampliacion Marcona project was US$ 1,100 billion, less than the US$ 1,300 billion anticipated in the previous edition. Thus, this investment, added to the investment made in the completion of the Ampliacion Shahuindo project of US$ 109 million, was excluded in this publication. 2. Six projects began construction in 2018, thus committing a total investment of US$ 8,880 billion. The projects are: Extension Toromocho, Quecher Main, Relaves B2 San Rafael, Quellaveco, Ariana and Mina Justa. 3. Additionally, two projects were incorporated in the current edition: Yanacocha Sulfuros and Bayovar 12, which have a total investment of US$ 2,100 billion and US$ 168 million, respectively. 4. The Ampliacion La Arena project (phase II) was eliminated as in the previous edition, data from the La Arena II mining project was mistakenly considered; this project is still in a conceptual phase. 5. Out of the 48 projects, there are 32 projects that have not changed their investment amount. 6. There are 14 projects that modified their investment amounts, representing a difference of US $ 102 million, among which are:

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 20

✓ Ampliacion Toromocho, which went from an investment of US$ 1,300 billion to US$ 1,355 billion, since the company has determined that the project will be of greater magnitude, requiring a greater investment. ✓ Similarly, the overall Quellaveco project investment increased from US$ 4,882 to US$ 5,300 billion, increasing by 9%. Likewise, Mina Justa went from US$ 1,348 billion to US$ 1,600 billion, raising the investment amount by 19%. ✓ The total investment of the Quechua project amounted to US$ 1,290 billion, increasing by 52% compared to the amount registered in the previous edition; as result of an updated carried out according to the information reported by the company operating the project in its Monthly Statistical Declaration. ✓ Macusani, increased its global investment amount from US$ 300 to US$ 800 million as a result of the discovery of the potential lithium deposit and the development of new explorations.

Table: Main changes in the 2018 project portfolio

Investment Investment Amount of 2018 portfolio 2018 portfolio Difference of

projects 1st edition 2nd edition investment (billion US$) (billion US$)

Projects included in the 2* - 2,268 2,268 portfolio Projects that begun 2 1,409 - -1,409 operations Projects that were omitted 1* 130 -130 from the portfolio - Projects with investment 14 18,988 18,886 -102 modifications Projects without investment 32 37,981 37,981 - modification Total 48 58,507 59,134 627 * It is not taken into account in the sum because it left the portfolio.

Graph: Comparison between 2017 and 2018 project portfolio (Billion US$)

2,268 102 130 1,409

58,507 58,507 59,134

1st edition Out of the Begun operations Investment Project 2nd edition portfolio adjustment incorporation

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 21

ANNEX 1: METHODOLOGY

Coverage

The Mine Construction Project Portfolio includes projects aimed at developing and/or constructing a mine, either new or for tailings reuse (greenfield) and expansion or replacement of existing ones (brownfield). In addition, these projects are owned by private companies of large and medium-scale mining and include both metallic and non-metallic minerals.

The Portfolio only includes those projects whose global amount of investment exceeds 70 million dollars and which are, at least, in the pre-feasibility stage, and there is already a greater degree of certainty about mineral resources, after having carried out the exploration and cubing of reserves. In addition, it considers projects whose start of construction is foreseen in the next ten years.

It should be noted that the investment amounts, start dates of construction, start of operation (start-up) and other data are compilations from different sources and estimates made by the General Department of Mining Promotion and Sustainability of the Ministry of Energy and Mines, so that does not compromise -in any way- the companies that own the projects. Characteristics of the projects

1.1 Type of project

This characteristic provides information about the productive purpose of the project, its categories are the following:

• New projects: These are projects that start from scratch, having to settle in a new geographical space, establish ties with nearby communities, obtain all permits and develop all the necessary infrastructure. By using geographic spaces, resources and new facilities, these types of projects are classified as "greenfield".

• Expansion projects: These are projects that seek to expand current productive capacity, in order to reduce costs or due to the fall of mineral resource laws. They are developed in the same place and in parallel to the productive process in progress, for this reason, this type of project is classified as "brownfield".

• Replacement projects: These are projects that seek to maintain current productive capacity with new mining developments, due to the fall of laws and / or the depletion of mineral reserves in the exploitation sectors. These projects are classified as "brownfield".

• Reutilization projects: These are projects whose purpose is the reuse of tailings. These projects involve the development of new infrastructure and the use of new spaces, which is why they are classified as "greenfield". Progress

This characteristic provides information about the current situation of the project and what stage of development it is in, its categories are:

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 22

• Pre-feasibility: Category assigned to those projects that have started the preparation of their pre-feasibility study or have completed them before the feasibility stage begins. At this stage, there is already a greater degree of certainty about mineral resources, after having carried out the exploration and cubing of reserves.

• Feasibility: Category assigned to those projects that have begun the feasibility studies until they have finished but have not yet made the investment decision.

• Detail engineering: Category assigned to those projects that have investment approval and that are preparing basic and detailed engineering studies.

• Construction: Category assigned to those projects that have all the necessary permits and that have started the construction and /or development of the mine until before the start- up or start of operations.

1.2. Status of the Environmental Impact Assessment (EIA)

This characteristic provides information on the status of the detailed Environmental Impact Assessment (DEIA), an instrument without which no project can start the construction of a mine. The DEIA can be in one of these statuses:

• Not submitted: Means that the project does not have EIA.

• In preparation: It means that the project owner has communicated to SENACE the start of the preparation of the EIA.

• In evaluation: It means that the preparation of the EIA was completed and is being evaluated by SENACE.

• Approved: Means that the EIA successfully completed the evaluation stage and was approved. Sources of information

The information contained in the Portfolio is a compilation of diverse sources made by the General Department of Mining Promotion and Sustainability of the Ministry of Energy and Mines. In case there are differences between the data from different sources, the data is taken from the most reliable source, in the following order of priorities:

1. Pre-feasibility studies, feasibility and detailed engineering.

2. Reports to shareholders, quarterly and annual reports, and financial reports.

3. Environmental Impact Assessment, Mining Plan, Mine Closure Plan and Authorization of Benefit Concession.

4. Official presentations made by the company that owns the project. Books, articles, magazines, web pages and other specialized media.

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 23

ANNEX 2: TECHNICAL SPECIFICATIONS OF THE PROJECTS

The file of each project is divided into three sections. In the first one are the "General Data of the Project", where the name, the project operator (mining owner), the investors and their origin are detailed. Next, the location chart that indicates the region, province and district (s), as well as a small review with additional data of the geography of the place.

The second section entitled "Main Project Data", specifies data such as the global investment (CAPEX, for its Spanish acronym), the investment executed, the year of construction start and operation of the project, expected employment in construction and operation. It should be noted that the investment executed is presented to the month of September 2018 and has been obtained from the Monthly Statistical Declaration (ESTAMIN, for its Spanish acronym).

It also includes technical data such as type of project, mineralization, resources or mineral reserves, the type of mine, the useful life of the project, the power required, the water source, the capacity of the plant and finally the estimated annual production.

In the section "Current Project Status" the progress stage is presented, the status of the Environmental Impact Assessment, the Authorization of Exploitation Activities (Mining Plan) and the Authorization of Concession. The last box corresponds to additional data of each project, where the most relevant and current is highlighted.

General Department of Mining Promotion and Sustainability PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 24

Page Project 25 Ampliacion Bayovar 26 Ampliacion Pachapaqui 27 Ampliacion Santa Maria 28 Ampliacion Toquepala 29 Ampliacion Toromocho 30 Antilla 31 Anubia 32 Ariana 33 AZOD (Accha y Yanque) 34 Bayovar 12 35 Cañariaco (Norte) 36 Cañón Florida (Ex Bongará) 37 Conga 38 Corani 39 Cotabambas 40 Don Javier 41 El Galeno 42 El Padrino e Hilarión 43 Fosfatos Mantaro 44 Fosfatos Pacifico 45 Haquira 46 Hierro Apurimac 47 Integracion Coroccohuayco 48 La Granja 49 Los Calatos 50 Los Chancas 51 Macusani 52 Magistral 53 Michiquillay 54 Mina Justa 55 Ollachea 56 Optimizacion Lagunas Norte 57 Pampa de Pongo 58 Pukaqaqa 59 Quecher Main 60 Quechua 61 Quellaveco 62 Quicay II 63 Racaycocha Sur 64 Relaves B2 San Rafael 65 Rio Blanco 66 Rondoni 67 San Gabriel (Ex Chucapaca) 68 San Luis 69 Tia Maria 70 Trapiche 71 Yanacocha Sulfuros 72 Zafranal

General Department of Mining Promotion and Sustainability Ampliacion Bayovar

Operator Compañía Minera Miski Mayo S.R.L. Investor(s) 1 75%: The Mosaic Company (USA) 25%: Mitsui & Co (Japan)

LOCATION

Region Piura Province(s) Sechura District(s) Sechura The project is located in the north of Peru, 1,000 km from the city of Lima, 110 km south of the city of Piura and 30 km from the Pacific Ocean.

MAIN DATA OF THE PROJECT

Global investment2 US$ 300 million Type of site Brine tank Investment - Mineral reserves3 597 Mt @ 16.7% P2O5 implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan3 31 years 1300 in Construction Employment3 Energy power3 70.3 MVA 144 in operation

3 ☐ New (greenfield) Water source Sea water, brine water ☒ Expansion (brownfield) Plant capacity4 81,079 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 1.9 million FMT of phosphate (additional) ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The development of the project is awaiting the decision making of the Board of Directors of the company ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment - EIAd Second Modification of the EIAd approved by R.D No. 182-2015-EM / DGAAM on April 28, 2015. First ☐Not submitted Sustained Technical Report Approved by R.D No. 258-2017-SENACE / DCA on September 17, 2017. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The project does not include a Approved for an installed capacity of ☐Not submitted concession new authorization to start ☐ 81,079 TM / day through R.D No. 0519- ☐In preparation exploitation and approval of Not submitted 2017-MEM-DGM / V on June 6, 2017. Mining plan. ☐ ☐In evaluation In evaluation ☒ ☒Approved Approved

Additional data of the project: Bayóvar is one of the largest phosphate deposits in the world and is made up of a very rich area of rocks and non-metallic minerals, among which are phosphoric rock, diatomites, brines, among others. Phosphoric rock is transformed into fertilizer and processed with sulfuric acid to simplify its use. The importance of fertilizers is vital for agricultural activity, since the crops that are finally used for animal and human consumption are nourished with this product .

1 Miski Mayo, Press Release January 17, 2018. 2 National Society of Mining, Petroleum and Energy (SNMPE). Biweekly report of October 2010 3 Second Amendment to the EIA, RD No. 182-2015-EM / DGAAM 4 Approval of the Beneficiation concession Authorization by RD No. 0519-2017-MEM-DGM / V dated June 6, 2017. Ampliacion Pachapaqui

Operator ICM Pachapaqui S.A.C. Investor(s) 100%: Korea Zinc Company (Korea)

LOCATION

Region Áncash Province(s) Bolognesi District(s) Aquia The project is located at an approximate altitude between 3,800 and 4,800 masl

MAIN DATA OF THE PROJECT Zinc (Zn), lead (Pb), silver (Ag) and copper (Cu) Global investment5 US$ 116.5 million Type of site polymetallic deposit Investment 9.1 Mt @ 3.40% Zn, 1.42% Pb, 55.58 g/t Ag, US$ 1.4 billion Mineral reserves6 implemented 0.44% Cu Start of construction 2019 Type of mine Underground Start of operations 2022 Mine lifespan7 11 years 304 in Construction Employment7 Energy power No changes 481 in operation Surface water (Huiscash and Tunacancha Water source7 canyon)

☐ New (greenfield) Plant capacity7 Expansion from 800 to 3,300 tons per day ☒ Expansion (brownfield) Type of project 29,750 FMT of Zn (additional) ☐ Replacement (brownfield) 12,400 TFMT of Pb (additional) Estimated annual ☐ Reutilization (greenfield) 1.56 million Ag ounces (additional) production6 3,850 FMT of Cu (additional)

CURRENT STATUS OF THE PROJECT Progress stage: ☐Prefeasibility The company has made the necessary drilling to continue with its technical-economic studies ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment - EIAd Approved by R.D. N ° 023 2017-SENACE-JEF-DEAR on December 01, 2017 ☐Not submitted ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining The project does not include The company submitted an application for plan) a new authorization to start Beneficiation Beneficiation concession; however, it was ☐Not submitted operation and approval of concession observed. They do not yet have the ☐In preparation Mining plan ☒Not submitted authorization of an energy concession for a Plant capacity of 3,300 MT / day ☐In evaluation ☐In evaluation ☒Approved ☐Approved

Additional data of the project: ICM Pachapaqui will prepare the Underground works and the main access tunnel, through which a percentage of minerals will be recovered, which will be collected and disposed towards the current plant that has a capacity of 800 tons per day. This will start up during the Construction of the plant of 2,500 tons per day, with which the mining unit will have an expected capacity of 3,300 tons per day.

5 General Data, INTRANET, New Detailed Environmental Impact Assessment ICM Pachapaqui 6 Modification of the Environmental Impact Assessment dated April 29th, 2016. 7Modification of the EIA, R.D N° 023-2017-SENACE-JEF/DEAR December 1st, 2017. Ampliacion Santa María

Operator Compañía Minera Poderosa S.A. Investor(s) 100%: Grupo Arias (Peru)

LOCATION

Region La Libertad Province(s) Pataz District(s) Pataz The project is located at an altitude between 1,300 to 3,200 masl, in the basin of the Hualanga-French stream

MAIN DATA OF THE PROJECT

Global investment US$ 110 million8 Type of site Deposit of gold (Au) and silver (Ag) Investment - Mineral reserves 1.6 Mt @ 17.5 g/t Au implemented Start of construction 2019 Type of mine Open pit Start of operations 2020 Mine lifespan9 22 years 1173 in Construction Employment9 Energy power Not available 100 in operation

9 ☐ New (greenfield) Water source Surface and Underground water ☒ Expansion (brownfield) Plant capacity9 Expansion from 600 to 1,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 36,000 fine gold ounces (additional) ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company is in a stage of preparation and management of contracts to obtain the necessary permits for Construction, it is estimated to complete these efforts during 2018. ☐Feasibility ☒Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project has a Modification to its detailed Environmental Impact Assessment for exploitation activities, ☐Not submitted approved by R.D. N ° 011-2017-SENACE-JEF / DEAR on November 24, 2017. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The project does not include a concession Approved for a Plant capacity of 1,000 TM / ☐Not submitted new authorization to start day by Resolution No. 0542-2018-MEM-DGM ☐In preparation exploitation and approval of ☐Not submitted / V on June 15, 2018. ☐In evaluation Mining plan. ☐In evaluation ☒ ☒Approved Approved

Additional data of the project: The company plans to carry out an expansion of the current productive capacity from 600 to 1,000 tons per day in a phased manner, which is why the company includes in its EIAd the implementation of New components and the modification of others already existing, maintaining the level of commitment with compliance with the norms and good socio-environmental practices.

.

8 Request to modify the Environmental Impact Assessment, August 2017. 9 Approval of the modification of the Environmental Impact Assessment, R.D N° 11-2017-SENACE-JEF/DEAR, November 24th, 2017. Ampliacion Toquepala

Operator Southern Perú Copper Corporation, Sucursal del Perú Investor(s) 88.9%: Grupo México S.A.B. de C.V. ( Mexico) 11.1%: Other (floating capital)

LOCATION

Region Tacna Province(s) Jorge Basadre District(s) Ilabaya The project is located at an altitude between 2,200 to 3,800 masl

MAIN DATA OF THE PROJECT

Global investment10 US$ 1,255 billion Type of site Porphyry copper (Cu) and molybdenum (Mo) Investment US$ 1127 billion Mineral reserves 1,928.95 Mt@ 0.56% Cu implemented Start of construction 2015 Type of mine Open pit Start of operations 2018 Mine lifespan11 23 years 2200 in Construction Employment Energy power11 80MW 300 in operation

☐ New (greenfield) Water source Surface water (Honda canyon) ☒ Expansion (brownfield) Plant capacity11 Expansion from 60,000 to 120,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 100,000 FMT of copper (additional)

☐ Reutilization (greenfield) production10 3,100 FMT of molybdenum (additional)

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility At the end of 2015, the company began the expansion works of the concentrator plant of its production unit in Toquepala, with a planned investment of US$ 1,255 million. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The Environmental Impact Assessment (EIA) of the Expansion Project of the Toquepala Concentrator and Re- ☐Not submitted growth of the Quebrada Honda Tailing Reservoir was approved on December 17, 2014 by Directorial Resolution No. 611-2014-EM / DGAAM. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities Construction authorization for the (Mining plan) Beneficiation project was approved on April 14, Approved for a capacity at 120,000 MT / ☐Not submitted 2015 and, in March 2016, the concession ☐ day without area increase by R.D No. 144- ☐In preparation Mine Closure Plan for the Not submitted 2015-MEM-DGM / V. aforementioned Expansion ☐In evaluation ☐In evaluation project was approved. ☐ ☒Approved Approved

Additional data of the project: The Operator submitted an application for the re-growth of the tailings dam with an expansion of the area, on July 14, 2017.

.

10 Results of the Third Quarter, Southern Copper Corporation, Surcursal Perú, dated October 24, 2018. 11 Approval of the Environmental Impact Assessment, RD No. 611-2014-EM / DGAAM, dated December 17, 2014 Ampliacion Toromocho

Operator Minera Chinalco Perú S.A. Investor(s) 100%: Aluminum Corporation of China Overseas Holdings Limited. ( China)

LOCATION

Region Junín Province(s) Yauli District(s) Morococha The project is located at an altitude between 4,500 to 5,000 masl

MAIN DATA OF THE PROJECT

Global investment12 US$ 1,355 billion Type of site Copper porphyry (Cu) Investment US$ 244 million Mineral reserves 1,526 Mt@ 0.48% Cu, 0.019% Mo, 6.88 g/t Ag implemented Start of construction 2018 Type of mine Open pit Start of operations 2020 Mine lifespan13 27 years 3200 in Construction Employment Energy power 200 MW 2400 operation Water source Surface and Underground water ☐ New (greenfield) Expansion from 117,000 to 170,000 tons per ☒ Expansion (brownfield) Plant capacity14 Type of project day ☐ Replacement (brownfield) Estimated annual ☐ Reutilization (greenfield) 75,000 FMT of copper (additional) production

CURRENT STATUS OF THE PROJECT Progress stage: ☐Prefeasibility On June 1, 2018, President Martin Vizcarra announced the start of construction of the project, at a press conference at the Government Palace. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The Environmental Impact Assessment (EIA) of the Toromocho Project was approved on December 14, 2010 ☐Not submitted by Directorial Resolution No. 411-2010-MEM / AAM. Also, in December 2012, the Mine Closure Plan was approved for said project. ☐In preparation

☐In evaluation ☒Approved

Start of exploitation activities The project does not include a new (Mining plan) authorization to start exploitation and Beneficiation concession Approved by RD No. 252-2011-MEM- ☐Not submitted approval of the Mining plan. The DGM / V dated July 26, 2011. ☐In preparation Toromocho project maintains ☐Not submitted Approved the Mining plan through ☐In evaluation ☐In evaluation R.D. N ° 088-2013-MEM / DGM on ☒ ☒Approved March 27, 2013. Approved

Additional data of the project: On June 4, 2018, the Ministry of Energy and Mines (MINEM), through its General Office of Social Management (OGGS), and representatives of the Presidency of the Council of Ministers (PCM), achieved important development agreements between the population and authorities of the Morococha district. Within the agreements it was established that the Toromocho Social Fund will allow the acquisition of land, with a dimension equal to or greater than 34 hectares, to encourage the development of productive projects. .

12 Announcement by the President of the Republic, Martín Vizcarra, on June 1, 2018. 13 Second Sustainability Technical Report, RD No. 504-2015-MEM-DGAAM, dated December 29, 2015. 14 General data, INTRANET, New Environmental Impact Assessment detailed. Antilla

Operator Panoro Apurímac S.A. Investor(s) 100%: Panoro Minerals ltd. (Canada)

LOCATION

Region Apurímac Province(s) Antabamba District(s) Sabaino The project is located at an altitude between 3,400 to 4,100 masl, approximately 150 km southwest of Cusco and 500 km southeast of Lima.

MAIN DATA OF THE PROJECT

Porphyry copper (Cu) and molybdenum (Mo) Global investment15 US$ 250 million Type of site

Investment - Mineral resources16 291.8 Mt @ 0.34% Cu, 0.01% Mo implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan17 17 years 13 MW Employment 255 in operation Energy power17

Water source17 Surface water (runoff and reservoir)

20,000 tons per day ☒ New (greenfield) Plant capacity17

☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) Year 1 to 4: 30,000 tons of cat. of Cu Estimated annual Year 5 to 12: 30,000 -15,000 tons of cat. of Cu ☐ Reutilization (greenfield) production17 Year 13 to 16: 15,000 -25,000 tons of cat. of Cu Year 17: 4,700 tons of cat. of Cu

CURRENT STATUS OF THE PROJECT Progress stage: ☒Prefeasibility The project has a Preliminary Economic Study optimized to May 2018. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd ☒Not submitted The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not concession Without authorization of Beneficiation ☒Not submitted yet submitted its application concession. ☐In preparation for authorization of ☒Not submitted exploitation activities ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The initial investment was estimated at US $ 603 million (amount considered in the first edition of the Portfolio of 2018); However, the company carried out an optimization process, reducing the initial investment.

15 Development of copper potential in Peru, Panoro Minerals Ltd, August 2018. 16 Press Release, Panoro Minerals Ltd, August 2018 17 Technical Report of the Economic Preliminary Study, June 2018. Anubia

Operator Anubia S.A.C. Investor(s) 100%: Grupo Guido Del Castillo (Peru)

LOCATION

Region Apurímac Province(s) Abancay District(s) Curahuasi El proyecto se ubica a una altitud de 2,600 masl.

MAIN DATA OF THE PROJECT

Global investment US$ 90 million18 Type of site Porphyry copper (Cu) and molybdenum (Mo) Investment Mineral - Not available implemented reserves/resources Start of construction 2021 Type of mine Open pit Start of operations 2023 Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 20,000 FMT of copper ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The company is carrying out activities prior to the development of the project that includes drilling to better understand the deposit. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact The company announced in January 2015, the start of the Environmental Impact Assessment (EIA). In Assessment -EIAd addition, the project has a Semi-detailed Environmental Impact Assessment (EIAsd) for exploration activities, Approved by RD No. 192-2012-MEM / AAM on June 12, 2012. Additionally, on May 17, 2016 the project was ☐Not submitted approved. First Sustainability Technical Report of the EIAsd through RD N ° 149-2016-MEM-DGAAM, whose ☒In preparation objective is to broaden the schedule of execution of exploration activities in order to carry out 136 drillings. ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession Without authorization of Beneficiation ☒Not submitted not yet submitted its request for concession ☐In preparation authorization of exploitation ☒Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The company has been carrying out activities prior to the development of the project that includes drilling to better understand the deposit.

.

18 Rumbo Minero, July 2015. Ariana

Operator Ariana Operaciones Mineras S.A.C Investor(s) 100%: Southern Peaks Mining LP ( United Kingdom)

LOCATION

Region Junín Province(s) Yauli District(s) Marcapomacocha The project is located on the western flank of the La Viuda Western Cordillera in the central highlands of Peru, at an altitude of 4,700 masl

MAIN DATA OF THE PROJECT

Skarn of copper (Cu) and zinc (Zn) intermediate Global investment19 US$ 125 million Type of site21 to distal of low sulfuration Investment 6.2 Mt @ 1.14% Cu, 18.04 g/t Ag, 0.84 g/t Au, US$ 0.8 million Mineral reserves20 implemented 1.79% Zn Start of construction 2018 Type of mine Underground Start of operations 2020 Mine lifespan21 10 years Employment21 1500 in Construction Energy power21 10 MWA Water source21 Underground ☒ New (greenfield) Plant capacity21 2,000 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 45,000 – 50,000 FMT of copper Estimated annual 30,000 FMT of zinc ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility On July 5, 2018, the company reported the Start of exploitation activities to the Ministry of Energy and Mines (MINEM). ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The project has an Environmental Impact Assessment (EIA) Approved by Directorial Resolution No. 127-2016- ☐Not submitted MEM / DGAAM dated April 29, 2016. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by R.D No. 0137- Approved for a Plant capacity of 2,000 MT / ☐Not submitted concession 2018-MEM-DGM on May 31, ☐ day through R.D. N ° 0602-2018-MEM-FGM / ☐In preparation 2018. Not submitted V on July 10, 2018. ☐ ☐In evaluation In evaluation ☒ ☒Approved Approved

Additional data of the project:

It is expected that the first commercial production will be in the first half of 2020.

.

19 Rumbo Minero, edition N°104, July 2017. 20 Mining plan, August 2017. 21 Environmental Impact Assessment Approved by RD 127-2016-MEM/DGAAM, dated April 29th, 2016. AZOD (Accha and Yanque)

Operator Exploraciones Collasuyo S.A.C. Investor(s) 100%:Zincore Metals Inc. (Canada)

LOCATION

Region Cusco Province(s) Paruro District(s) Accha The project is located at an altitude between 3,500 to 4,300 masl.

MAIN DATA OF THE PROJECT Global investment22 US$ 345.5 million Type of site Zinc supergene deposit (Zn) Accha: Investment Base Case: 1.223 Mt @ 8.03 % Zn, 0.68% Pb (Open pit); - Mineral reserves23 1.011 Mt @ 10.36% Zn, 1.39% Pb (Underground) implemented Yanque: Base Case: 8,338 Mt @ 3.97 % Zn, 2.6% Pb Start of construction To be defined Type of mine Open pit and Underground Accha: 6 years Start of operations To be defined Mine lifespan23 Yanque: 8 years

Employment23 231 in operation Energy power23 39.7 MWA

Water source23 Agua Underground

☒ New (greenfield) Accha: Plant capacity23 Base Case: 1,250 tons per day ☐ Expansion (brownfield) Yanque: Type of project ☐ Replacement (brownfield) Base Case: 2,650 tons per day ☐ Accha: Reutilization (greenfield) Estimated annual Base Case: Open pit 36,000 Klb of Zn and 3,000 Klb of Pb

production23 Yanque: Base Case : 84,800 Klb of Zn and 68,000 Klb of Pb

CURRENT STATUS OF THE PROJECT Progress stage: ☒Prefeasibility The AZOD Project (Accha Zinc Oxide District) includes the Accha and Yanque Yaciminetos with approximately 30km distance. According to the NI 43 101 PFS Technical Report published in August 2013, two production ☐Feasibility scenarios are proposed: Base case, with a fully integrated production (SHG) of zinc ingots and lead ☐Detailed engineering concentrate and Fume case, with production for the sale of concentrated zinc oxide and lead. ☐Construction

Environmental Impact Assessment -EIAd The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not Without authorization of Beneficiation ☒Not submitted concession yet submitted its application for ☒ concession. ☐In preparation authorization of exploitation Not submitted activities. ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: On February 16, 2017, the Company reached an agreement with First Quantum Minerals Ltd to terminate the Yanque copper porphyry project joint venture and to cancel a US $ 2 million convertible loan from First Quantum to Zincore. Under the terms of the agreement, the Company recovered 100% of the property of the Yanque Project. As consideration for the cancellation of the US $ 2 million loan, the Company granted to First Quantum 3.5% of a foundry network that returns royalties on any future production that may occur in the Project. .

22 Corporate presentation “An underappreciated zinc asset”, January 2018. 23 Technical report of the Preliminary Study of Feasibility, dated August 6, 2013.

Bayovar 12

Operator Juan Paulo Quay S.A.C Investor(s)24 70%: CROPS INC. (Canada) 18%: Mamut Andino (Ecuador) 12%: Grupo Romero (Peru)

LOCATION

Region Piura Province(s) Sechura District(s) Sechura The project is located in the Sechura desert, 90 km south of the city of Piura and 30km from the Pacific Ocean, approximately

MAIN DATA OF THE PROJECT

Global investment25 US$ 167.7 million Type of site25 Phosphate sedimentary deposit Investment - Mineral resources25 102.2 Mt @ 13.11% P2O5 implemented Start of construction To be defined Type of mine25 Open pit Start of operations To be defined Mine lifespan25 20 years Employment To be defined Energy power25 16 MVA

25 ☒ New (greenfield) Water source Sea water ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual Mode A: 500,000 FMT of phosphate

☐ Reutilization (greenfield) production25 Mode B: 500,000 FMT of phosphate

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The project has a project prefeasibility study published on June 28, 2016. The prefeasibility study (PFS) supports the commercial model to produce a P2O5 rock concentrate at 24% and 28%. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment - EIAd The company still does not have a Detailed Environmental Impact Assessment (EIAd) for exploitation ☒Not submitted activities. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining The Operator of the project plan) Beneficiation has not yet submitted its Without authorization of Beneficiation ☒Not submitted request for authorization of concession ☒ concession. ☐In preparation exploitation activities. Not submitted ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: During 2017, CROPS conducted a series of additional metallurgical tests that confirmed the ability to produce a minimum of 30% P2O5 phosphate rock concentrate. The vision of the current company is to produce 28% and 30% of P2O5 rock concentrate to supply the agricultural and industrial sectors of the global phosphate economy. .

24 Press release, Focus, dated April 5, 201 25 Prefeasibility study dated June 28, 2016 Cañariaco (Norte)

Operator Cañariaco Copper Perú S.A. Investor(s) 100%: Candente Copper Corp. ( Canada)

LOCATION

Region Lambayeque Province(s) Ferreñafe District(s) Cañaris The project is located at an altitude of 2,760 masl, on the surface lands of the San Juan de Cañaris Rural Community

MAIN DATA OF THE PROJECT

Global investment26 US$ 1600 billion Type of site Pórfido de cobre (Cu) y molibdeno (Mo) Investment - Mineral resources26 1,003 Mt @ 0.4% Cu, 0.06 g/t Au, 1.7 g/t Ag implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan26 22 years Employment 1500 in Construction Energy power26 148 MW Water source26 Surface water (rain) ☒ New (greenfield) Plant capacity26 95,000 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 262 million pounds of copper Estimated annual 39,000 ounces of gold ☐ Reutilization (greenfield) production27 911,000 ounces of silver

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company is developing the Feasibility study of the project. Currently, the percentage of progress of this study is approximately 50%. It is worth mentioning that in 2011, the Prefeasibility Study of the project was ☒Feasibility completed, as well as the NI 43-101 Technical Report of the progress of the project's prefeasibility study, from ☐Detailed engineering which positive results were obtained as a better approximation to the measured and indicated resources with a cut-off grade of 0.2% Cu. ☐Construction

Environmental Impact Assessment -EIAd The company does not have an EIAd for exploitation activities. However, it has a Modification of its ☒Not submitted Environmental Impact Assessment Semidetached, Approved on September 9, 2014 through R.D. N ° 462- 2014-MEM / DGAAM. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: After several meetings between the company, governmental and community entities during 2017, in 2018, infrastructure projects for the district of Cañaris were approved. Of these announced projects, the irrigation projects stand out with an approximate investment of US $ 10.5 million, which will benefit 1,700 families from several agricultural communities of Cañaris. .

26 Prefeasibility Study Progress Report, dated March 11, 2011. 27 Technical data of the project, Candente Copper.

Cañón Florida (Ex Bongará)

Operator Nexa Resources Perú. S.A.A. Investor(s) 61%: Nexa Resources S.A. (Brazil) 39%: Solitario Zinc Corp. (USA)

LOCATION

Region Amazonas Province(s) Bongará District(s) Florida and Yambrasbamba The project is located at an altitude between 2,400 and 2,800 masl

MAIN DATA OF THE PROJECT

Global investment28 US$ 214 million Type of site Deposit of zinc (Zn) and lead (Pb) Investment - Mineral resources29 3.3 Mt @ 12.2% Zn, 1.53% Pb, 18.51 g/t Ag implemented Start of construction To be defined Type of mine Underground Start of operations To be defined Mine lifespan29 12.5 years Employment 160 in operation Energy power Not available Water source30 Surface water and Underground

☒ New (greenfield) Plant capacity30 2,500 tons per day ☐ Expansion (brownfield) Type of project 60,000 FMT of zinc ☐ Replacement (brownfield) Estimated annual 6,000 FMT of lead

☐ Reutilization (greenfield) production29 200,000 ounces of silver

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company has stated that during the third quarter of 2018 a drilling program designed to test the opportunity for expansion of resources identified by the deposit modeling will be initiated during the preparation of the ☒Feasibility Preliminary Economic Assessment (PEA) of the project, which It was published on August 02, 2017. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company does not have an EIAd for exploitation activities. However, the project has a Fourth Modification ☒Not submitted of its Environmental Impact Assessment Semidetached Approved by R.D. N ° 137-2018-MEM / DGAAM on June 19, 2018. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not concession ☒Not submitted yet submitted its application for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The Bongará project was renamed to Cañon Florida in 2017. During this year, the main activities consisted in the request for renewal of the environmental license of the IV Modification to the Semi-Detailed Environmental Impact Assessment (EIAsd) and in the development of social programs with the Shipasbamba Peasant Community and environmental monitoring. .

28 Press release, Solitario Zinc Corp. dated August 2, 2017. 29 Nexa Annual Report 2017. 30 Preliminary Economic Report, dated August 3, 2017. Conga

Operator Minera Yanacocha S.R.L. Investor(s) 51.35%: Newmont Mining Corporation (EEUU) 43.65%: Grupo Buenaventura (Peru) 5.00%: Sumitomo Corporation (Japan)

LOCATION

Region Cajamarca Province(s) Celendín and Cajamarca District(s) Sorochuco, Huasmin and La Encañada El proyecto se ubica a una altitud de 3,700 a 4,300 masl.

MAIN DATA OF THE PROJECT

Global investment US$ 4800 billion Type of site Porphyry gold (Au) and copper (Cu) Investment US$ 1237 billion Mineral reserves 504 Mt @ 0.28% Cu, 0.72 g/t Au implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan31 19 years 8700 en Construction Employment31 Energy power Not available 1660 in operation Water source31 Reservoirs ☒ New (greenfield) Plant capacity32 92,000 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 680,000 fine ounces of gold Estimated annual 54,000 FMT of copper ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The project has been paralyzed due to socio-environmental conflicts in the zone of direct and indirect influence. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The Second Modification of the Environmental Impact Assessment (EIA) of the Conga mining project was ☐Not submitted approved by Directorial Resolution No. 228-2015-MEM / DGAAM approved on May 29, 2015. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by R.D No. 035- Approved for a Plant capacity of 92,000 MT / ☐Not submitted concession 2012-MEM-DGM on March 9, ☐ day through R.D. N ° 078-2012-MEM-FGM / ☐In preparation 2012. Not submitted V on March 1, 2012. ☐ ☐In evaluation In evaluation ☒ ☒Approved Approved

Additional data of the project: The project includes the exploitation of Perol and Chaihuagon porphyry deposits. However, currently the project is paralyzed in suspended Feasibility stage. .

31 Approval of the Second Amendment of the Environmental Impact Assessment through R.D. 228-2015-MEM / DGAAM dated May 29, 2015. 32 Approval of the Mining plan through R.D 035-2012-MEM-DGM dated March 9, 2012.

Corani

Operator Bear Creek Mining S.A.C. Investor(s) 100%: Bear Creek Mining Corporation (Canada)

LOCATION

Region Puno Province(s) Carabaya District(s) Corani The project is located at an altitude between 4,600 to 5,200 masl

MAIN DATA OF THE PROJECT

Epithermal intermediate sulphidation with silver Global investment33 US$ 585 million Type of site33 (Ag), lead (Pb) and zinc (Zn). Investment US$ 24 million Mineral reserves33 137.6 Mt @ 51.6 g/t Ag, 0.91% Pb, 0.59% Zn implemented Start of construction 2019 Type of mine Open pit Start of operations 2022 Mine lifespan34 18 years 1500 in Construction Employment35 Energy power33 65 MW 440 in operation

33 ☒ New (greenfield) Water source Surface and Underground water ☐ Expansion (brownfield) Plant capacity 22,500 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 110,000 FMT of lead and silver

☐ Reutilization (greenfield) production33 80,000 FMT of lead and zinc

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility On September 4, 2018, Bear Creek Mining informed the Ministry of Energy and Mines of the start of the early works period. ☐Feasibility ☒Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd In November 2017, the Second Sustainability Technical Report (2nd ITS) was approved, which includes ☐Not submitted changes in the design of the Open pit, rearrangement of components in the processing facilities, change in the engineering design of the mine dismantling deposit and main relay as well as updating, rearrangement and ☐In preparation relocation of water management facilities and addition of other infrastructures related to the project. ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by R.D No. 0119- concession Approved for a Plant capacity of 22,500 MT / ☐Not submitted 2018-MEM-DGM on May 9, day through R.D. N ° 570-2018-MEM-DGM / ☐In preparation 2018. ☐Not submitted V on June 25, 2018. ☐In evaluation ☐In evaluation ☒Approved ☒Approved

Additional data of the project: The Project Operator is conducting an assessment of capital and operations savings, as well as time reduction

.

33 Detailed engineering report (phase 1), September 2017. 34 Approval of the Mining plan through R.D. 119-2018-MEM-DGM, dated May 9, 2018. 35 Executive Summary of the Environmental Impact Assessment, February 2013. Cotabambas

Operator Panoro Apurímac S.A. Investor(s) 100%: Panoro Minerals Ltd. (Canada)

LOCATION

Region Apurímac Province(s) Cotabambas District(s) Cotabambas The project is located at an approximate altitude of 4,000 m.s., 500 m. northwest of the city of Cotabambas.

MAIN DATA OF THE PROJECT

Porphyry copper (Cu) and molybdenum (Mo) Global investment36 US$ 1533 billion Type of site38

117.1 Mt @ 0.42% Cu, 0.23 g/t Au, 2.74g/t Ag, Investment - Mineral reserves37 0.0013% Mo implemented

Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan38 17 years Employment 454 in operation Energy power38 120 MWA

38 ☒ New (greenfield) Water source Runoff water ☐ Expansion (brownfield) Plant capacity38 80,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 270,000 FMT of copper ☐ Reutilization (greenfield) production38

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The project has a Mineral Resource Estimation Technical Report dated July 24, 2012. Additionally, in May 2015, the company submitted a Technical Report of the Preliminary Economic Survey (PEA), which was ☐Feasibility updated in November of the same year. Currently, Panoro Minerals is developing the drilling program for the ☐Detailed engineering project, which was restarted on February 22, 2018. ☐Construction

Environmental Impact Assessment -EIAd The Project is developing the Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☐Not submitted ☒In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not Without authorization of Beneficiation ☒Not submitted concession yet submitted its application for ☒ concession. ☐In preparation authorization of exploitation Not submitted activities. ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: On January 16, 2017, Panoro Minerals announced, through Significance of Significance in the Securities Market Superintendence (SMV), the signing of an agreement with the Community of Cochapata. The completion of the same constitutes the second such agreement completed with the community since Panoro acquired the Cotabambas project. Said agreement includes commitments of a similar nature to those previously subscribed with the main component of land acquisition for members of the existing community in the rural area of Anta. .

36 Corporate presentation "Developing Peru's Copper Potential", August 2018. 37 Press Release, Panoro Minerals Ltd, dated August 20, 2018. 38 Preliminary Economic Survey dated September 22, 2015. Don Javier

Operator Junefield Group S.A. Investor(s) 100%: Junefield Mineral Resources Holding Limited (China)

LOCATION

Region Arequipa Province(s) Arequipa District(s) Yarabamba The project is located at an altitude between 2,400 and 2,900 masl

MAIN DATA OF THE PROJECT

Global investment US$ 600 million Type of site39 Porphyry copper (Cu) and molybdenum (Mo) Investment - Mineral reserves39 182 Mt @ 0.45% Cu, 212 ppm Mo, 3.0 ppm Ag implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 34,425 FMT of copper ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The company continues performing the drilling of the approved platforms in the Modification of its Semidetailed Environmental Impact Assessment (EIAsd). The current budget for the exploration activities of the project is ☐Feasibility US $ 25 million, and currently it has a physical advance percentage of 65%. It is expected that these activities ☐Detailed engineering will culminate in the current year. ☐Construction

Environmental Impact Assessment -EIAd The company does not have an EIAd for exploitation activities. However, it has a Modification to its ☒Not submitted Semidetailed Environmental Impact Assessment (EIAsd) Approved by R.D. N ° 080-2014-MEM / DGAAM on February 13, 2014. Additionally, the project has a First Sustained Technical Report Approved on November 9, ☐In preparation 2017 through R.D. N ° 313-2017-MEM-DGAAM, whose main objective is to extend the project schedule for 12 ☐In evaluation months. ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not Without authorization of Beneficiation ☒Not submitted concession yet submitted its application for ☒ concession. ☐In preparation authorization of exploitation Not submitted activities ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: The company has reported exploration investments until October 2017, which were resumed in February 2018. Currently, the company carries out these activities giving emphasis to environmental and community aspects, in order to establish negotiation bridges with localities in the area. . .

39. Technical report dated November 15, 2013.

El Galeno

Operator Lumina Copper S.A.C. Investor(s) 60%: China Minmetals Corporation (China) 40%: Jiangxi Copper Ltd. (China)

LOCATION

Region Cajamarca Province(s) Celendín and Cajamarca District(s) Sorochuco and La Encañada The project is located at an altitude between 3,800 to 4,200 masl

MAIN DATA OF THE PROJECT

Porphyry copper (Cu), gold (Au), silver (Ag) and Global investment US$ 3500 billion Type of site40 molybdenum (Mo) Investment 660,985 Mt @ 0.5% Cu, 0.013% Mo, 0.12 g/t US$ 278.4 million Mineral reserves40 implemented Au, 2.51 g/t Ag Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan40 20.4 years 4000 in Construction Employment Energy power Not available 1200 in operation Water source Not available

☒ New (greenfield) Plant capacity40 90,000 tons per day ☐ Expansion (brownfield) Type of project 144,353 FMT copper ☐ Replacement (brownfield) Estimated annual 82,324 ounces of gold

☐ Reutilization (greenfield) production40 2,021,254 ounces of silver 2,277 FMT molybdenum

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The company is conducting complementary exploration. Due to this, in September 2017, it has requested authorization from the Ministry of Energy and Mines (MINEM) to continue exploring for three more years in ☐Feasibility order to carry out complementary studies. It is worth mentioning that the geography of the place is complicated ☐Detailed engineering and faces a series of conflicts related to the use of water. ☐Construction

Environmental Impact Assessment -EIAd The project does not have an EIAd for exploitation activities. However, it has a Fourth Modification to its semi- ☒Not submitted detailed Environmental Impact Assessment (EIAsd), for exploration activities, which was rectified by RD No. 514-2014-MEM-DGAAM on October 10, 2014. Currently, the company presented on September 12, 2018 its ☐In preparation Fifth Modification of its EIAsd whose objective is to extend the schedule for 3 years for the development of ☐In evaluation complementary studies. ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession Without authorization of Beneficiation ☒Not submitted not yet submitted its request for concession. ☐In preparation authorization of exploitation ☒Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: Specialists have indicated that one option would be for the projects in the area (Conga, Michiquillay, El Galeno) to form a consortium in order to transport the concentrates obtained to the coast through a pipeline. In this way, it is estimated that an investment of this type has greater environmental viability since the impact and the footprint on the environment is reduced. .

40 Prefeasibility study dated February 19, 2007. El Padrino and Hilarión

Operator Nexa Resources Perú. S.A.A. Investor(s) 80.24%: Nexa Resources S.A. (Brazil) 19.76%: Other shareholders

LOCATION

Region Áncash Province(s) Bolognesi District(s) Aquia The project is located at an altitude between 4,000 and 4,900 m.s.

MAIN DATA OF THE PROJECT

Global investment US$ 470 million Type of site41 Deposit of zinc (Zn), lead (Pb) and silver (Ag) Investment - Mineral resources42 69.4 Mt @ 3.79% Zn, 0.71%Pb, 31.3 g/t Ag implemented Start of construction To be defined Type of mine Underground Start of operations To be defined Mine lifespan43 11 years Employment To be defined Energy power Not available Water source Not available

☒ New (greenfield) Plant capacity 10,000 tons per day ☐ Expansion (brownfield) Type of project 138,618 FMT zinc ☐ Replacement (brownfield) Estimated annual 21,420 FMT lead

☐ Reutilization (greenfield) production 4.03 million fine ounces of silver

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility During 2017, the company carried out mappings and geological sections in the El Padrino deposit, to evaluate the potential for expansion of resources. The current mineral resources are contained within the Hilarion and ☒Feasibility El Padrino deposits which are 3 km away from each other. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company is managing the development of its Environmental Impact Assessment Detailed (EIAd). In this ☐Not submitted sense, the National Service of Environmental Certification for Sustainable Investments (SENACE) approved the Terms of Reference (TOR) on August 9, 2016 by R.D. N ° 064-2016-SENACE / DCA. Also, on January 11, ☒In preparation 2018 through R.D. N ° 011-2018-SENACE-JEF / DEAR approved the Citizen Participation Plan (for the ☐In evaluation preparation of the EIAd). ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not yet Without authorization of Beneficiation ☒Not submitted concession submitted its request for ☒ concession. ☐In preparation authorization of exploitation activities. Not submitted ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: Currently, the project has a Third Modification of its Semidetailed Environmental Impact Assessment (3rd EIAsd) Approved on August 31, 2017 through R.D. N ° 240-2017-MEM / DGAAM whose purpose is to execute 72 drilling platforms, of which 53 correspond to approved platforms in previous environmental management instruments and 19 correspond to new platforms. On the other hand, in 2019, the company plans to start the construction of an exploration tunnel between El Padrino and Hilarión in order to establish synergies between them and connect them for better performance. .

41 Technical report dated August 4, 2017. 42 Compañía Minera Milpo, Annual Report 2017. 43 Approval of the Environmental Impact Assessment through R.D. 064-2016-SENACE / DCA dated August 9, 2016. Fosfatos Mantaro

Operator Mantaro Perú S.A.C. Investor(s) 100%: ITAFOS ( United Kingdom)

LOCATION

Region Junín Province(s) Concepción District(s) Aco The project is located 250 km east of Lima.

MAIN DATA OF THE PROJECT

Global investment US$ 850 million Type of site44 Deposit of marine sedimentary origin Investment - Mineral reserves44 39.5 Mt @ 10% P2O5 implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 1 million - 1.5 million FMT of phosphate ☐ Reutilization (greenfield) production44

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The Prefeasibility study was completed and published in February 2010. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company still does not have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession Without authorization of Beneficiation ☒Not submitted not yet submitted its request for concession. ☐In preparation authorization of exploitation ☒Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: It is planned to sell the expected production to fertilizer manufacturers. Regarding the development of the project, strategic alternatives for better decision making are currently being evaluated. .

44 Technical report dated March 16, 2010. Fosfatos Pacífico

Operator Fosfatos del Pacífico S.A. Investor(s) 70%: Fossal S.A.A. (Perú) 30%: Mitsubishi Corporation (Japan)

LOCATION

Region Piura Province(s) Sechura District(s) Illescas El proyecto se encuentra dentro de la franja desierta del territorio peruano entre los 0  50 masl.

MAIN DATA OF THE PROJECT

Global investment45 US$ 831.1 million Type of site Deposit of marine sedimentary origin Investment - Mineral reserves 108.1 Mt @ 17.8% P2O5 implemented Start of construction 2021 Type of mine Open pit Start of operations 2024 Mine lifespan46 20 years 2437 in Construction Employment46 Energy power Not available 482 in operation

47 ☒ New (greenfield) Water source Sea water ☐ Expansion (brownfield) Plant capacity47 18,790 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 2,500,000 FMT of phosphate ☐ Reutilization (greenfield) production47

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company is carrying out explorations in the approved area of the Modification of the Environmental Impact Assessment of the Phosphates Project to confirm new reserves within the phosphate rock sedimentary deposit ☒Feasibility in the Bayóvar N ° 9 concession. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd Approved by R.D.N° 119-2014-EM / DGAAM on March 11, 2014. Also, on August 3, 2018, by R.D. N ° 112- ☐Not submitted 2018-SENACE-JEF /DEAR was awarded the first Sustainability Technical Report (1st ITS) of its MEIA, which aims to conduct exploration activities to confirm new reserves within the sedimentary rock phosphate deposit ☐In preparation at the Bayóvar concession No. 9 ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by R.D No. 331- concession The company submitted the application in ☐Not submitted 2015-MEM-DGM / V on July 2015, which was observed and notified to the ☐In preparation 24, 2015. ☒Not submitted company on August 19 of the same year. On October 14, 2015, the company declined to ☐In evaluation ☐In evaluation continue with the process. ☒Approved ☐Approved

Additional data of the project: Given that the project's development zone does not have sufficient infrastructure facilities for roads, electricity or water availability, the company has considered the project as an integral development that includes the construction of a road for the transfer of the concentrate, laying of an electric transmission line and the implementation of a system for the collection and pumping of seawater through an aqueduct from the coast to the plant and mine area. .

45 Corporate presentation, Fosfatos del Pacífico, dated December 31, 2016. 46 Application for Modification of the Environmental Impact Assessment dated September 9, 2016. 47 Approval of the First Amendment of the Environmental Impact Assessment dated September 9, 2016. Haquira

Operator Minera Antares Perú S.A.C. Investor(s) 100%: First Quantum Minerals Ltd. (Canada)

LOCATION

Region Apurímac Province(s) Cotabambas and Grau District(s) Chalhuahuacho and Progreso The project is located in southern Peru, on the eastern side of the Peruvian Andes, between 3,850 and 4,400 m.s.

MAIN DATA OF THE PROJECT

Global investment48 US$ 1860 billion Type of site48 Porphyry copper (Cu) and molybdenum (Mo) Investment - Mineral resources49 569 Mt @ 0.56% Cu implemented Start of construction 2021 Type of mine Open pit and Underground Start of operations 2024 Mine lifespan48 20 years Employment To be defined Energy power Not available Water source48 Surface and Underground water

30,000 tons per day according to leaching ☒ New (greenfield) method Plant capacity48 ☐ Expansion (brownfield) 100,000 tons per day according to the flotation Type of project method ☐ Replacement (brownfield) ☐ Reutilization (greenfield) 337,790 thousand pounds of copper Estimated annual 6,742 thousand pounds of Molybdenum production48 1199 thousand ounces of silver

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The project has a Preliminary Economic Study published on September 2, 2010. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company is currently establishing the baseline of the Environmental Impact Assessment (EIA). ☐Not submitted ☒In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has Without authorization of Beneficiation ☒Not submitted concession not yet submitted its request for ☒ concession ☐In preparation authorization of exploitation Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The Haquira project is one of the largest undeveloped copper deposits in the world with high potential for large-scale mining work. The mine plan includes an exploitation of Open pit and Underground, because the geological analysis to date, which includes drilling, sampling and modeling, has identified an area with underground potential, below the Haquira Este pit. .

48 Technical Report of the Preliminary Economic Evaluation dated September 2, 2010. 49 Corporate presentation, First Quantum, May 2017. Hierro Apurímac

Operator Apurímac Ferrum S.A. Investor(s) 100%: Strike Resources Limited. (Australia)

LOCATION

Region Apurímac Province(s) Andahuaylas District(s) Andahuaylas The project is located at an approximate altitude of 3,500 m.s., with a total concession area of 7,500 ha.

MAIN DATA OF THE PROJECT

Global investment50 US$ 2900 billion Type of site Deposit of iron oxide (Fe) 269 Mt @ 57.3% Fe Investment US$ 50 million Mineral reserves51 implemented (142 Mt Indicated Resource at 57.84% Fe and 127 Mt Inferred Resource at 56.7% Fe). Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan50 20 years Employment To be defined Energy power50 125 MW

50 ☒ New (greenfield) Water source Surface water (rain) ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 20 million FMT of iron ☐ Reutilization (greenfield) production52

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility A Prefeasibility Study (PFS) completed in 2008 and updated in 2010 was prepared. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company still does not have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation . The Operator of the project Without authorization of Beneficiation ☒Not submitted concession has not yet submitted its ☒ concession. ☐In preparation request for authorization of Not submitted exploitation activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: In December 2016, the company entered into a conditional sale agreement with a subsidiary of the Chinese group Zhongrong Xinda for the sale of the iron projects that Strike has in Cusco and Apurímac, for the sum of US $ 10 million. However, in April 2017, the group announced that it was no longer interested in acquiring Peruvian projects. .

50 Market Announcement, Strike Resources Ltd dated July 23rd, 2008. 51 Quarterly report as of June 30, 2018. 52 Market Announcement, Strike Resources Ltd dated February 8th, 2008. Integración Coroccohuayco

Operator Compañía Minera Antapaccay S.A. Investor(s) 100%: Glencore PLC (Switzerland)

LOCATION

Region Cusco Province(s) Espinar District(s) Espinar The project is located at an approximate altitude of 4,150 masl.

MAIN DATA OF THE PROJECT

Global investment53 US$ 590 million Type of site54 Skarn of copper (Cu) and gold (Au) Open pit: 63 Mt @ 0.63% Cu, 0.07 g/t Au, 1.98 Investment g/t Ag - Mineral reserves 54 implemented Underground: 121 Mt @ 1.22% Cu, 0.02 g/t Au, 3.86 g/t Ag Start of construction 2019 Type of mine55 Open pit and Underground Start of operations 2022 Mine lifespan56 25 years 1871 in Construction Employment55 Energy power55 621,14 GW 1092 in operation

55 ☐ New (greenfield) Water source Underground water ☐ Expansion (brownfield) Plant capacity56 20,000 tons per day Type of project ☒ Replacement (brownfield) Estimated annual 105,000 FMT of copper ☐ Reutilization (greenfield) production55

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company concluded its Feasibility studies in 2017 and is conducting technical studies in hydrogeology, geotechnics and geometallurgy. The project has a Semi-Detailed Environmental Impact Assessment (EIAsd) ☒Feasibility for the Coroccohuayco exploration project that was approved by Directorial Resolution No. 233-2010-MEM / ☐Detailed engineering AAM of July 19, 2010 as well as a First Amendment of its EIAsd (1st. EIAd) approved by Directorial Resolution N ° 396-2014-MEM / AAM of August 6, 2014. ☐Construction

Environmental Impact Assessment -EIAd The modification of the EIA of the Antapaccay Expansion Tintaya - Coroccohuayco Integration project ☐Not submitted presented on January 26, 2017 is In evaluation by SENACE ☐In preparation ☒In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not concession Approved for a capacity of 19,400 MT / day of ☒Not submitted yet submitted its application for the Beneficiation concession Tintaya by R.D ☐In preparation authorization of exploitation ☐Not submitted No. 148-2005-MEM / DGM on May 9, 2005. activities ☐In evaluation ☐In evaluation ☐Approved ☒Approved

Additional data of the project: The project will begin with the expansion of the Tintaya pit for after 3 years put into production of the Coroccohuayco pit. Around the year 2029 until the year 2045, the method of exploitation will be changed to underground for the Coroccohuayco deposit. On the other hand, the Project will use components (mainly the concentrator plant and tailings dam) of the Antapacay Mining Unit. .

53 Request for Modification of the Environmental Impact Assessment project Antapaccay Tintaya Expansion - Coroccohuayco Integration. 54 Resource and Booking Report as of December 31, 2017 55 Corporate presentation, September 2018. 56 Corporate presentation, 2013 La Granja

Operator Rio Tinto Minera Perú Limitada S.A.C. Investor(s) 100% Rio Tinto Plc. (United Kingdom; Australia)

LOCATION

Region Cajamarca Province(s) Chota District(s) Querocoto The project is located at an altitude between 2,000 and 2,800 masl

MAIN DATA OF THE PROJECT

Epithermal High Sulphuration with copper Global investment US$ 5,000 billion Type of site57 content (Cu) Investment - Mineral reserves58 4,320 Mt @ 0.51% Cu implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan59 40 years 6000 in Construction Employment Energy power Not available 1660 in operation

57 ☒ New (greenfield) Water source Surface water (rain) ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 500,000 FMT of copper ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The company is doing advanced exploration. For this, it has a Semi-Detailed Environmental Impact Assessment (EIAsd) Approved by Directorial Resolution No. 133-2007-MEM / AAM and a Eleventh ☐Feasibility Amendment (11th EIAsd) approved by Directorial Resolution No. 432-2015-MEM / DGAAM of 11 November ☐Detailed engineering 2015 ☐Construction

Environmental Impact Assessment -EIAd The company still does not have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has Without authorization of Beneficiation ☒Not submitted concession not yet submitted its request for ☒ concession. ☐In preparation authorization of exploitation Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The La Granja project is considered one of the largest developed copper deposits in the world. In this regard, according to the contract signed between Rio Tinto and the Peruvian government, the mining company undertook to deliver a Feasibility study by the end of 2016, otherwise the contract would be valid. However, the Peruvian government signed an addendum to said contract in order to correct the aforementioned term, extending it for ten more years, since certain metallurgical problems (arsenic) have not yet been resolved. .

57 Technical Report, January 2012. 58 Rio Tinto, Annual Report 2017. 59 Corporate presentation, dated December 3, 2013 Los Calatos

Operator Minera Hampton Perú S.A.C Investor(s)60 100%: CD Capital Natural Resources Fund III (United Kingdom)

LOCATION

Region Moquegua Province(s) Mariscal Nieto District(s) Moquegua and Torata The project is located at an altitude between 2,800 and 3,500 masl between Los Calatos hills, where the project is named.

MAIN DATA OF THE PROJECT

Porphyry copper (Cu) and molybdenum (Mo) Global investment61 US$ 655 million Type of site62

Investment 136.5 Mt @ 0.73% Cu, 434 ppm Mo - Mineral reserves61 implemented Start of construction To be defined Type of mine62 Underground Start of operations To be defined Mine lifespan61 22 years Employment To be defined Energy power Not available

62 ☒ New (greenfield) Water source Sea water ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 50,000 FMT of copper

☐ Reutilization (greenfield) production61

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility Currently, the company is exploring the determined area of the project according to the Second Modification of its semi-detailed Environmental Impact Assessment (EIAsd). The budget for this exploration is US $ 104 ☐Feasibility million and has a percentage of physical progress of more than 80%. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd On April 25, the company informed the National Service for Sustainable Investments (SENACE) that the start ☐Not submitted date of the elaboration of the Environmental Impact Assessment (EIAd) for exploitation activities would be June 1, 2018. ☒In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: On June 27, 2017, Metminco Limited announced the sale of 49% of the project to CD Capital for an approximate amount of US $ 5 million, with which CD Capital obtained 100% of the shares. .

60 Press Release, Metminco, June 27, 2017. 61 Annual Report, Metminco, 2016. 62 Presentation to investors, September 2015. Los Chancas

Operator Southern Perú Copper Corporation, Sucursal del Perú Investor(s) 88.9%: Grupo México S.A.B. de C.V. (Mexico) 11.1%: Other (floating capital)

LOCATION

Region Apurímac Province(s) Aymaraes District(s) Tapapyrihua The project is located at an altitude between 3,600 to 3,800 m.s., approximately 910 km from Lima.

MAIN DATA OF THE PROJECT

Global investment63 US$ 2800 billion Type of site Porphyry copper (Cu) and molybdenum (Mo) Investment US$ 54 million Mineral reserves 545 Mt @ 0.59% Cu, 0.04% Mo, 0.039 g/t Au implemented Start of construction 2021 Type of mine Open pit Start of operations 2022 Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity 4,700 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 130,000 FMT of copper

☐ Reutilization (greenfield) production63 7,500 FMT of molybdenum

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility During 2017, the company carried out works for the development of social and environmental improvements with the local communities to carry out the environmental impact assessment. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The Environmental Impact Assessment of the Los Chancas Mining Exploitation Project was presented to the ☐Not submitted National Service of Environmental Certification for Sustainable Investments (SENACE) on August 17, 2018. ☐In preparation ☒In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The Los Chancas project will be a combined ESDE operation, which is a state-of-the-art technology with the highest international environmental standards. The deposit has copper, molybdenum and gold. According to the studies, they are analyzing whether it is more convenient to process the minerals through leaching, which is a cheaper and low initial capital process (CAPEX) but where molybdenum or gold is not recovered, or if the flotation option is chosen, alternative where the 3 metals can be recovered, but the initial capital will be higher. .

63 Results second quarter and six months 2018, Southern Corp, dated July 24, 2018. Macusani

Operator Macusani Yellowcake S.A.C. Investor(s) 99.5 %: Plateau Energy Metals Inc. (Canada) 0.5%: Other

LOCATION

Region Puno Province(s) Carabaya District(s) Corani and Macusani The project is located at an approximate altitude between 4,150 and 5,200 meters above sea level.

MAIN DATA OF THE PROJECT

Global investment64 US$ 800 million Type of site65 Deposit of uranium (U) and lithium (Li) Falchani: 40.58 Mt @ 3104 ppm Li, 121.7 Mt @ Investment - Mineral resources66 2724 ppm Li implemented Macusani: 60.7 Mt @ 324.81 ppm U3O8 Start of construction To be defined Type of mine65 Open pit o Underground (To be defined) Start of operations To be defined Mine lifespan65 10 years Employment To be defined Energy power65 15 MVA

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual Not available ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility On September 6, 2018, the company published a technical report on lithium mineral resources in Falchani. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project does not have a Detailed Environmental Impact Assessment (EIAd). However, the company ☒Not submitted expects to complete the preparation, communication and presentation process during 2019. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not concession ☒Not submitted yet submitted its application for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: During 2018 and 2019, Plateau Energy plans to continue carrying out explorations in order to expand its resources, confirm net reserves and define the geometry of the reserves. Likewise, it plans to complete its optimization and Feasibility study in the same period. Additionally, the Preliminary Economic Assessment (PEA) is expected to be completed by the end of 2018. .

64 Plateau Energy Metals outlines lithium, uranium resources at Falchani, SNL dated July 17th, 2018. 65 Technical report of resource estimate, May 2016. 66 Technical report of resource estimate dated September 6, 2018. Magistral

Operator Nexa Resources Perú. S.A.A. Investor(s) 80.24%: Nexa Resources S.A. (Brazil) 19.76%: Other shareholders

LOCATION

Region Áncash Province(s) Pallasca District(s) Conchucos The project is located at an altitude between 4,100 and 4,300 masl, approximately at 450 km to the northwest of the city of Lima.

MAIN DATA OF THE PROJECT

Copper porphyry type copper (Cu) and Global investment67 US$ 480 million Type of site68 molybdenum (Mo) Investment - Mineral resources68 205.3Mt @0.52% Cu, 0.05% Mo, 2.96 g/t Ag implemented Start of construction 2022 Type of mine68 Open pit Start of operations 2023 Mine lifespan68 16 years 1170 in Construction Employment67 Energy power69 57.7 MW 371 in operation Water source69 Pit water drainage, dump and tailings deposit ☒ New (greenfield) Plant capacity68 30,000 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 40,000 FMT copper Estimated annual 3,000 FMT molybdenum ☐ Reutilization (greenfield) production68 600,000 ounces of silver

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility In June 2018, the drilling campaign concluded, which allowed the start of the selection of samples to start metallurgical tests. Likewise, during the third quarter of 2017, the preliminary economic studies (PEA) were ☒Feasibility completed in which aspects related to the expected production of the mines were defined, among other ☐Detailed engineering variables. ☐Construction

Environmental Impact Assessment -EIAd Approved on September 15, 2016 through R.D. N ° 278-2016-MEM-DGAAM. Likewise, it has a First ☐Not submitted Sustainability Technical Report (1st STI) Approved by Directorial Resolution No. 311-2017-SENACE / DCA dated October 16, 2017. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The processing capacity of the Project is divided into 3 stages: Stage 1: During the first 3 years with 10,000 TM / day. Step 2: From year 2 to 7, with 20,000 MT / day. Step 3: Year 8 to 15, with 30,000 MT / day. .

67 Environmental Impact Assessment, August 2016. 68 Annual report, Nexa, 2017. 69 Approval of the Environmental Impact Assessment by R.D. 278-2016-MEM-DGAAM dated September 15, 2016. Michiquillay

Operator Southern Perú Copper Corporation, Sucursal del Perú Investor(s) 88.9%: Grupo México S.A.B. de C.V. (Mexico) 11.1%: Other (floating capital)

LOCATION

Region Cajamarca Province(s) Cajamarca District(s) La Encañada The project is located at an altitude between 3,275 masl and 4,000 masl, on the lands of the Campesino Community of Michiquillay and La Encañada.

MAIN DATA OF THE PROJECT

Global investment70 US$ 2,500 billion Type of site Porphyry copper Investment - Mineral resources70 1,150 Mt @ 0.63% Cu implemented Start of construction 2022 Type of mine Open pit Start of operations 2025 Mine lifespan70 25 years Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 225,000 FMT of copper ☐ Reutilization (greenfield) production70

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility On June 12, 2018, the Southern Peru Copper Corporation mining company, Sucursal del Peru, signed the Transfer Agreement for the development of the project, where the ownership of 18 mining concessions was ☐Feasibility transferred. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The project will create significant business opportunities in the Cajamarca Region, generate news jobs for local communities and contribute taxes and royalties to national, regional and local governments. .

70 Results second quarter and six months 2018, Southern Corp, dated July 24, 2018. Mina Justa

Operator Marcobre S.A.C. Investor(s) 60%: Grupo Breca (Peru) 40%: Empresas COPEC S.A. (Chile)

LOCATION

Region Ica Province(s) Nazca District(s) San Juan de Marcona The project is located at an altitude of 800 masl.

MAIN DATA OF THE PROJECT

Global investment71 US$ 1600 billion Type of site Copper deposit (Cu) Investment US$ 189 million Mineral reserves72 171.5 Mt of oxide ore, 93.9 Mt of sulfide ore implemented Start of construction 2018 Type of mine Open pit Start of operations 2020 Mine lifespan73 16 years 3000 in Construction Employment74 Energy power Not available 1000 in operation

75 ☒ New (greenfield) Water source Desalination of sea water ☐ Expansion (brownfield) Plant capacity76 56,678 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 102,000 FMT of copper concentrate

☐ Reutilization (greenfield) production75

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility On August 22, 2018, in the morning hours, the company executed the first blasting in the project. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact The project has an Environmental Impact Assessment (EIA) and a Modification (MEIA) approved in September Assessment -EIAd 2017. Also, in December 2017, the First Sustainability Technical Report of the Mina Justa Project (1st ITS) was approved to optimize operations , through the modification, relocation, Expansion and addition of main ☐Not submitted and auxiliary components as well as proposing the relocation of the stations of the Underground water ☐In preparation monitoring program and the domestic effluent monitoring program and to make precisions in the environmental ☐In evaluation management plan and plan of contingencies ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by Resolution No. concession Approved by R.D No. 0795-2018-MEM-DGM ☐Not submitted 0149-2015-MEM-DGM / V on / V dated October 22, 2018. ☐In preparation April 16, 2015. ☐Not submitted ☐In evaluation ☐In evaluation ☒Approved ☒Approved

Additional data of the project: The Project considers a seawater supply system through an aqueduct of 41 km, from the port of Marcona to the desalination plant located in the Project sector. On the other hand, the power supply will be obtained from a transmission line from the Poroma substation, located approximately 11 km from the Project. Also, in the area there is good infrastructure of roads, port, electricity supply and airport. The social and environmental conditions are favorable, since it is a mining, desert and low population density area. .

71 Annual Report, Minsur S.A dated March 28, 2018. 72 Approval of the First Sustainability Technical Report by R.D 029-2017-SENACE-JEF / DEAR dated December 12, 2017. 73 Approval of the Modification of the Environmental Impact Assessment through R.D. 236-2017-SENACE / DCA dated September 1, 2017 74 Corporate presentation, Marcobre dated February 17, 2017. 75 Technical sheet, Marcobre. 76 Beneficiation concession application publication notice report dated June 27, 2018. Ollachea

Operator Minera Kuri Kullu S.A. Investor(s) 100%: Minera IRL Limited ( Australia)

LOCATION

Region Puno Province(s) Carabaya District(s) Ollachea The project is located at an approximate altitude between 2,900 and 3,850 m.s., on surface land of the Peasant Community of Ollachea.

MAIN DATA OF THE PROJECT

Global investment77 US$ 177.5 million Type of site78 Orogenic auriferous (Au) housed in shear zone Investment - Mineral reserves78 9.2 Mt @ 3.4 g/t Au implemented Start of construction To be defined Type of mine Underground Start of operations To be defined Mine lifespan78 9 years Employment 364 in operation Energy power Not available

79 ☒ New (greenfield) Water source Water recirculated from sinks ☐ Expansion (brownfield) Plant capacity80 3,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 100,000 fine ounces of gold ☐ Reutilization (greenfield) production78

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company has completed a post-definitive feasibility study optimization. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The Environmental Impact Assessment (EIA) was approved by Directorial Resolution No. 363-2013-MEM- ☐Not submitted AAM of March 5, 2013. Subsequently, in 2014, a Sustaining Technical Report (ITS) was approved, which aimed to analyze, evaluate and propose the necessary environmental measures to ensure the sustainability ☐In preparation of the project ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation concession The company requested on Approved for a Plant capacity of 3,000TM ☐Not submitted March 26, 2018 an extension of ☐Not submitted / day through R.D No. 0235-2014-MEM- ☐In preparation the term for authorization to start ☐In evaluation DGM / V on June 25, 2014. activities, in order to correct the ☒In evaluation ☒Approved observations ☐Approved

Additional data of the project:

The company has financing problems in order to continue with the project. Currently, he is in an arbitration process with the Development Finance Corporation (COFIDE) before the Chamber of Commerce of Lima (CCL), because COFIDE had granted a loan for US $ 70 million; however, the payment did not become effective on the agreed date. For this reason, COFIDE refuses to make an additional loan for US $ 240 million.

77 Application for authorization of the Mining plan, April 2017. 78 Annual Information Form dated March 28, 2018. 79 Approval of the Environmental Impact Assessment by R.D 363-2013-MEM / AAM dated September 25, 2013. 80 Approval of the Beneficiation concession project through Resolution 235-2014-MEM-DGM / V dated June 25, 2014. Optimización Lagunas Norte

Operator Minera Barrick Misquichilca S.A. Investor(s) 100%: Barrick Gold Corporation (Canada)

LOCATION

Region La Libertad Province(s) Santiago De Chuco District(s) Quiruvilca The project is located at an approximate altitude between 3,700 and 4,200 m.s., 130 km from the city of Trujillo and 11 km northwest of the town of Quiruvilca.

MAIN DATA OF THE PROJECT

Global investment81 US$ 639.7 million Type of site81 Gold deposit (Au) Investment - Mineral reserves81 63.6 Mt @ 1.82g/t Au, 4.77 g/t Ag implemented Start of construction 2019 Type of mine Open pit Start of operations 2021 Mine lifespan82 10 years 11.5 MVA Employment 1096 in operation Energy power

Water source Not available ☐ New (greenfield) 6,000 tons per day ☐ Expansion (brownfield) Plant capacity81 Type of project ☒ Replacement (brownfield) Estimated annual 240,000 ounces of gold (100,000 additional gold ☐ Reutilization (greenfield) production81 ounces)

CURRENT STATUS OF THE PROJECT

Progress stage: The expansion of the U.M Lagunas Norte includes two phases. The first one called "Carbon Mineral Project (CMOP)", which is expected to culminate the detailed engineering studies to obtain the Construction permit, ☐Prefeasibility and in this way to present the proposal to Barrick's investment committee in Toronto in order to year. Thus, it ☐Feasibility is estimated that Construction will begin in 2019 and the operation in 2021. In parallel, it is developing the ☒Detailed engineering second phase called "Refractory Material Project", which is currently under study. ☐Construction

Environmental Impact Assessment -EIAd The Second Modification of its Environmental Impact Assessment (2nd MEIAD) of the Lagunas Norte Mining ☐Not submitted Unit approved by Directorial Resolution No. 274-2015-MEM / DGAAM of July 14, 2015. ☐In preparation The Second ITS was presented on September 29, 2018 whose objective is to modify the optimization of Approved processes in the First ITS. ☐In evaluation

☒Approved

Start of exploitation activities (Mining plan) Beneficiation The project does not include a new Approved for a Plant capacity of 70,000 ☐Not submitted concession authorization to start exploitation ☐ MT / day by Directorial Resolution No. ☐In preparation and approval of the Mining plan. Not submitted 1021-2017-MEM-DGM / V on November ☐ 6, 2017. ☐In evaluation In evaluation ☒ ☒Approved Approved

Additional data of the project: The carbonaceous minerals have been extracted as part of the Mining plan of the Lagunas Norte mines since the beginning of the operation and have been stored in stockpiles inside and outside the pit. It is proposed the processing of these carbonaceous minerals, as well as the remaining material, to extend the life of the U.M Lagunas Norte. .

81 Technical Report dated March 21, 2016 82 Fourth quarter results as of December 31, 2017. Pampa de Pongo

Operator Jinzhao Mining Perú S.A. Investor(s) 100%: Zhongrong Xinda Group Co. Ltd. (China)

LOCATION

Region Arequipa Province(s) Caravelí District(s) Bella Unión and Lomas The project is located at an altitude of approximately 400 masl, 50 km south of the city of Nazca and 550 km from the city of Lima.

MAIN DATA OF THE PROJECT

Global investment83 US$ 2,200 billion Type of site84 Magnetic iron ore deposit (Fe) Investment US$ 69 million Mineral reserves84 910.5 Mt @ 38.6 % Fe, 0.06 ppm Au, 0.1% Cu implemented Start of construction 2020 Type of mine Open pit Start of operations 2023 Mine lifespan83 23.5 years 3294 in Construction Employment Energy power Not available 1256 in operation

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 28.19 million FMT of iron ☐ Reutilization (greenfield) production83

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility Currently, is in search of financing, as a first step, on July 20, 2018 he signed a Strategic Cooperation Agreement with Jiangxi Copper Group. ☐Feasibility ☒Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project has an Environmental Impact Assessment (EIA) Approved by Directorial Resolution No. 044-2015- ☐Not submitted MEM-DGAAM of January 22, 2015. Likewise, in January 2018, the company presented the First Modification of the EIAd, which is In evaluation by the National Service of Environmental Certification for Sustainable ☐In preparation Investments (SENACE). ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation Approved by R.D N ° 0084- concession ☐Not submitted 2018-MEM-DGM on March 26, ☒Not submitted Without authorization of Beneficiation ☐In preparation 2018. concession ☐In evaluation ☐In evaluation ☒Approved ☐Approved

Additional data of the project: The company is in the search of partners for the development of the project. Also, explorations are being carried out to determine copper mineral resources. .

83 Corporate presentation to the Ministry of Energy and Mines dated September 24, 2018 84 Mining plan Stage I, February 2018. Pukaqaqa

Operator Nexa Resources Perú. S.A.A. Investor(s) 80.24%: Nexa Resources S.A. (Brazil) 19.76%: Other shareholders

LOCATION

Region Huancavelica Province(s) Huancavelica District(s) Huando, Ascensión and Huancavelica The project is located at an approximate altitude between 4,200 and 4,860 masl

MAIN DATA OF THE PROJECT

Global investment85 US$ 706.3 million Type of site86 Skarn in copper (Cu) and gold (Au) Investment - Mineral resources86 309 Mt @ 0.41 Cu implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan85 16 years 2500 in Construction Employment85 Energy power87 56.469 MVA 300 in operation

85 ☒ New (greenfield) Water source Reservoir water ☐ Expansion (brownfield) Plant capacity85 30,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 40,600 FMT of copper ☐ Reutilization (greenfield) production85

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility During the second quarter of 2018, the social license was obtained to start the drilling campaign. Additionally, the project prefeasibility study (PFS) is in progress. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd Approved on March 9, 2015 through R.D.N ° 130-2015-MEM / DGAAM. It also has a First Sustainability ☐Not submitted Technical Report (ITS) for the main components of the Pukaqaqa Approved mining unit on October 31, 2017. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The company is redefining the project. For this they have applied the methodology "Front End Loading" to save costs (phase 1). Currently, he is in the stage of selection of alternatives (phase 2) to subsequently develop the basic engineering studies and execution plan (phase 3). .

85 Approval of the Environmental Impact Assessment dated March 9, 2015. 86 Annual Report, Nexa, 2017.

Quecher Main

Operator Minera Yanacocha S.R.L. Investor(s) 51.35%: Newmont Mining Corporation (USA) 43.65%: Grupo Buenaventura (Peru) 5.00%: Sumitomo Corporation (Japan)

LOCATION

Region Cajamarca Province(s) Cajamarca District(s) Byears del Inca, La Encañada and Cajamarca The project is located at an altitude between 3,700 and 4,000 masl

MAIN DATA OF THE PROJECT

Global investment88 US$ 300 million Type of site89 Deposit of gold oxides (Au) Investment US$ 87 million Mineral reserves88 92 Mt @ 0.52 g/t Au implemented Start of construction 2018 Type of mine Open pit and Underground Start of operations 2019 Mine lifespan89 8 years 280 in Construction Employment89 Energy power Not available 1000 in operation

89 ☐ New (greenfield) Water source Surface and Underground water ☐ Expansion (brownfield) Plant capacity Not available Type of project ☒ Replacement (brownfield) Estimated annual 200,000 fine ounces of gold ☐ Reutilization (greenfield) production88

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility In the first quarter of 2018, the operator company announced the start of construction of the project. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The project will be developed in the areas approved in the Fifth Modification of the Detailed Environmental ☐Not submitted Impact Assessment (5th MEIAD) of the Caracago Supplementary Project Yanacocha Este (SYE), which was approved by Directorial Resolution No. 361-2016-MEM-DGAAM on 16 December 2016 ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities Authorization for Chaquicocha 3, (Mining plan) Beneficiation disassemble Chaquicocha and Approved for a Plant capacity of ☐Not submitted Carachugo Approved with R.D. N ° concession ☐ 70,000TM / day through R.D No. 0793- ☐In preparation 0077-2018-MEM-DGM on March 8, Not submitted 2017-MEM-DGM / V on September 8, 2018. Approval of the Mining plan ☐In evaluation 2017 for the Construction of the PAD ☐In evaluation of Chaquicocha underground south ☒ Carachugo Stage 14. ☒Approved through R.D No. 0730-2017-MEM- Approved DGM on August 15, 2017.

Additional data of the project: It is expected that the first commercial production will be in the fourth quarter of 2019. .

88 Corporate presentation, Newmont, September 2018. 89 Fifth Modification of the Environmental Impact Assessment, July 2016. Quechua

Operator Compañía Minera Quechua S.A. Investor(s) 66%: JX Nippon Mining Holdings (Japan) 34%: Mitsui Mining & Smelting Co. (Japan)

LOCATION

Region Cusco Province(s) Espinar District(s) Espinar The project is located at an approximate altitude between 4,000 and 4,600 masl and the area is accessed from Arequipa by the paved road to the town of Imata, and then arrive at the town of Condoroma

MAIN DATA OF THE PROJECT

Global investment90 US$ 1,290 billion Type of site91 Porphide of copper (Cu) and molybdenum (Mo) Investment US$ 134 million Mineral resources91 680 Mt @ 0.38% Cu implemented Start of construction To be defined Type of mine91 Open pit Start of operations To be defined Mine lifespan91 17 years Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual 76,000 FMT of copper ☐ Reutilization (greenfield) production91

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company continues carrying out explorations in the area and working on the social and environmental aspects of the project. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment - EIAd The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation ☒Not submitted activities. ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The company culminated with the Feasibility study in 2011. This study indicates that economically viable development could be possible if copper prices remain above an adequate average. In turn, this argues that mineral reserves have been smaller and Construction costs higher than estimates, which makes it necessary to evaluate the potential of nearby deposits and improve costs. .

90 Monthly Statistical Declaration, Investment Program, August 2018. 91 Press Release, Pan Pacific Copper, dated November 30, 2009. Quellaveco

Operator Anglo American Quellaveco S.A. Investor(s) 60%: Anglo American plc (United Kingdom) 40%: Mitsubishi Coporation (Japan)

LOCATION

Region Moquegua Province(s) Mariscal Nieto District(s) Torata The project is located at an altitude of 3,500 masl. and will cover an approximate area of 39,279.42 hectares

MAIN DATA OF THE PROJECT

Global investment92 US$ 5300 billion Type of site Porphyry copper (Cu) and molybdenum (Mo) Investment US$ 1315.2 billion Mineral reserves93 1,300 Mt @ 0.57% Cu implemented Start of construction 2018 Type of mine Open pit Start of operations 2022 Mine lifespan94 34 years 9000 in Construction Employment93 Energy power94 140 MW 2500 in operation

93 ☒ New (greenfield) Water source Intake of the Titire river and Vizcachas dam ☐ Expansion (brownfield) Plant capacity93 127,500 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 300,000 FMT of copper

☐ Reutilization (greenfield) production93 6,000 FMT of molybdenum

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The Board of Directors of the company approved the development of the project on July 25, 2018. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The project has the Fourth Modification (4th MEIA) of RD No. 339-2015-MEM-DGAAM Approved on August ☐Not submitted 28, 2015, which includes the increase in ore processing capacity from 85,000 to 127,500 tons per day , extending the useful life of the concentrator plant from 32 years to 34 years. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The Project has authorized the Approved for a capacity of 127,500 MT / day ☐Not submitted concession modification of the Mining plan ☐ through R.D. N ° 018-2016-MEM-DGM / V on ☐In preparation Approved on March 8, 2016 of Not submitted January 20, 2016. R.D. No. 0075-2016-MEM- ☐ ☐In evaluation In evaluation DGM / V. ☒ ☒Approved Approved

Additional data of the project: The copper concentrate obtained in the operation stage will be conducted to the port of Ilo. At the closure of the mine, the river channel will be restored using the co-disposal technique, which consists of filling the pit with the sterile material collected during the operation stage. .

92 Press release, AngloAmerican, dated July 25, 2018. 93 Press release, AngloAmerican, dated July 26, 2018. 94 Approval of the Fourth Amendment of the Environmental Impact Assessment through R.D 33-2015-MEM / DGAAM dated August 28, 2015. Quicay II

Operator Corporación Minera Centauro S.A.C. Investor(s) 100%: Corporación Minera Centauro ( Peru)

LOCATION

Region Pasco Province(s) Pasco District(s) Simón Bolívar The project is located at an altitude of 4,400 masl, 2.5 km north of the Quicay mine, in the central Andes of Peru.

MAIN DATA OF THE PROJECT

Porphyry copper (Cu) and gold (Au) Global investment95 US$ 400 million Type of site96

Investment Mineral - Not available implemented reserves/resources Start of construction 2021 Type of mine Open pit Start of operations 2023 Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity 20,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 17,280 FMT of copper ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: Currently, Corporación Minera Centauro S.A.C continues carrying out intensive exploration programs in the project area. In 2014, it contracted the specialized services of the AMEC consultancy to prepare a conceptual ☒Prefeasibility study of the project, which includes the review of available information with the detection of gaps, review of the ☐Feasibility resource model, study of Plant capacity, design of the mine, mine planning, process plant design, ☐Detailed engineering infrastructure, cost estimation of capital and operating costs and financial analysis of the project. ☐Construction

Environmental Impact Assessment -EIAd The company has not submitted the document to date. However, the company has a Modification to the ☒Not submitted Environmental Impact Assessment of the UEA Quicay, Approved by R.D. N ° 219-2011-MEM / AAM on July 12, 2011. In addition, the company has a Fifth Sustainability Technical Report of the Quicay Approved Mining ☐In preparation Unit on July 13, 2018. ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession activities. ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: The Quicay II project was born as a result of the discovery of a copper-gold porphyry deposit located 2 km away from the Quicay Mine, as a result of the intense exploration campaign carried out before the closing phase of the Quicay mine. .

95 In 2015, an initial investment of US $ 3,000 million was estimated, which has been recalculated to US $ 400 million. 96 Compañía Minera Centauro S.A.C. - Website of the company (http://www.cmcentauro.com). Racaycocha Sur

Operator Minera Peñoles de Perú S.A. Investor(s) 100%: Industrias Peñoles, S.A.B. de C.V. ( Mexico)

LOCATION

Region Áncash Province(s) Sihuas District(s) San Juan and Cashapampa The project is located at an altitude between 3,500 to 4,350 masl, 96 km from the city of Huaraz

MAIN DATA OF THE PROJECT

Deposit of copper (Cu), gold (Au) and Global investment US$ 1000 million Type of site97 molybdenum (Mo) Investment Mineral - Not available implemented reserves/resources Start of construction To be defined Type of mine Not available Start of operations To be defined Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual Not available ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility In 2018, the company made significant progress with the purchase of a portion of the land needed for the future mining operation and continued negotiations with the communities to acquire the remaining land. In addition, ☐Feasibility technical-economic studies are being carried out to determine the Feasibility of the project. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: Currently, the company is carrying out field work, interpretation and geological modeling in the Pucajirca and Santa Rosa areas, to the north of the project, where copper-gold mineralization has been detected. Additionally, the process of acquiring land for the eventual new mine continues and a relationship of collaboration and respect is maintained with the surrounding communities. .

97 Results for the second quarter of 2018, Industrias Peñoles, dated July 31, 2018. Relaves B2 San Rafael

Operator Minsur S.A. Investor(s) 100%: Grupo Breca ( Peru)

LOCATION

Region Puno Province(s) Melgar District(s) Antauta The project is located at an approximate altitude between 4,500 and 5,200 masl, In the eastern cordillera of the Andes.

MAIN DATA OF THE PROJECT

Global investment98 US$ 200 million Type of site Tailings with high Tin grade (Sn) Investment US$ 48 million Mineral reserves98 7.6 Mt @ 1.05% Sn, 0.09% Cu implemented Start of construction 2018 Type of mine Not applicable Start of operations 2019 Mine lifespan98 9 years 957 in Construction Employment99 Energy power Not available 120 in operation Water recirculation of the B3 tailings deposit Water source100 ☐ New (greenfield) and mine interior water ☐ Expansion (brownfield) Type of project Plant capacity101 3,480 tons per day ☐ Replacement (brownfield) Estimated annual ☒ Reutilization (greenfield) 4,000 - 5,000 FMT of tin production98

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility In the first quarter of 2018, the operator company announced the start of construction of the project. ☐Feasibility ☐Detailed engineering ☒Construction

Environmental Impact Assessment -EIAd The project has an MEIA for the tailing project of the new mining unit Quemenari - San Rafael R.D No. 95- ☐Not submitted 2017-SENACE-DC. Likewise, the project has a Fifth Suspicious Technical Report (5th ITS) of the (MEIA) Approved by Directorial Resolution No. 048-2018-SENACE-JEF / DEAR on March 23, 2018 that optimizes the ☐In preparation deposit's drainage system of tailings B2, and other auxiliary facilities. ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The project does not include an The project does not require an additional ☐Not submitted concession additional authorization for the ☒ plant. ☐In preparation start of exploitation and Not submitted approval of the Mining plan. ☐ ☐In evaluation In evaluation ☐ ☒Approved Approved

Additional data of the project: The project consists of reprocessing the tailings contained in the Bofedales 2 (B2) deposit, maximizing the recovery of tin contained in the tailings to produce commercial grade concentrate. In this way, the project aims to become an opportunity to sustain the production of the San Rafael mining unit as well as local employment and social investment in Antauta and Ajoyani. The project will be a modern mining model that transforms an old deposit into a positive impact, which allows maintaining tin production without exploiting more ore and without generating negative impacts to the environment.

98 Corporate presentation, Minsur, May 2018. 99 Executive Summary of the Modification of the Environmental Impact Assessment, March 2017 100 Approval of the Modification of the Environmental Impact Assessment through R.D. 095-2017-SENACE / DCA dated April 7, 2017. 101 Approval of the Second Sustaining Technical Report by R.D. 158-2017-SENACE / DCA dated June 19, 2017. .

Río Blanco

Operator Rio Blanco Copper S.A. Investor(s) 45%: Zijin Mining Group Co. Ltd. (China) 35%: Tongling Non-Ferrous Metals Group Holding Co. Ltd. (China) 20%: Xiamen C&D Co. Ltd. (China)

LOCATION

Region Piura Province(s) Huancabamba District(s) El Carmen de la Frontera The project is located at an altitude between 2,200 and 2,500 masl. Near the border with Ecuador.

MAIN DATA OF THE PROJECT

Global investment102 US$ 2,500 million Type of site Porphyry copper (Cu) and molybdenum (Mo) Investment - Mineral resources103 7.16 Mt @ 0.63 % Cu, 0.0216% Mo implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan102 20 years 500 in Construction Employment102 Energy power Not available 120 in operation Water source Surface water ☒ New (greenfield) Plant capacity Not available ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 200,000 FMT of copper Estimated annual 3,000 FMT of molybdenum ☐ Reutilization (greenfield) production102

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The mining owner is working to reinforce the social and environmental aspect in his area of influence, since residents of the surrounding communities have opposed the development of the project. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd Currently, the company has yet to report the start of the development of its Environmental Impact Assessment ☒Not submitted (EIA) to the National Service of Environmental Certification for Sustainable Investments (SENACE). Likewise, the company has been coordinating with different ministries in order to strengthen the presence of the State in ☐In preparation the area and improve relations between the communities, the company and the State. ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: Rio Blanco is considered one of the largest undeveloped copper deposits in the world and when it begins to operate it will be one of the largest copper mines in the world. In that sense, during the II Meeting of the Strategic Dialogue Mechanism on Peru - China Economic Cooperation, during the 2016 APEC meetings, the Peruvian government signed an agreement to promote the referred mining project with the Xiamen Zijin Tongguan Investment Consortium. Development Co. Ltd. .

102 Project file submitted to the Ministry of Energy and Mines, August 2018. 103 Río Blanco Copper S.A - Website. Check September 30, 2018. Rondoní

Operator Compañía Minera Vichaycocha S.A. Investor(s) 100%: Grupo Volcan ( Switzerland)

LOCATION

Region Huánuco Province(s) Ambo District(s) Cayma The project is located in the western mountain range of central Peru, 80 km from Cerro de Pasco.

MAIN DATA OF THE PROJECT

Global investment104 US$ 250 million Type of site Skarn of copper (Cu) and silver (Ag)

Investment 42.4 Mt @ 0.49% Cu, 0.19 oz/t Ag - Mineral reserves105 implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☐ Replacement (brownfield) Estimated annual Not available ☐ Reutilization (greenfield) production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility Because it is a medium-sized project, the Operator considers placing the project in a sale process. ☐Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project does not yet have a Detailed Environmental Impact Assessment (EIAd) for exploitation activities. ☒Not submitted ☐In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. ☐In evaluation activities. ☐In evaluation ☐ ☐Approved Approved

Additional data of the project: Through Directorial Resolution No. 374-2010-MEM / AAM dated November 10, 2010, the Modification of the Semidetailed Environmental Impact Assessment (MEIAsd) was approved for exploration activities, with the purpose of enabling 80 new platforms for the execution of drilling , Construction of new trails, modify the design of the powder keg and the cruise. The exploration of the Rondoní project involved 30.00 meters of diamond drilling, evidencing a high potential to increase resources with easy-to-float docile ore. .

104 Diario El Comercio - Interview with José Montoya, published on June 19, 2017. 105 Annual Report, Volcan, 2017. San Gabriel (Ex Chucapaca)

Operator Compañía de Minas Buenaventura S.A.A. Investor(s) 100%: Grupo Buenaventura (Peru)

LOCATION

Region Moquegua Province(s) Sánchez Cerro District(s) Ichuña The project is located at an approximate altitude between 4,450 and 5,000 masl, 837 km from Lima and 115.5 km from the city of Moquegua.

MAIN DATA OF THE PROJECT

Epithermal of intermediate sulphidation with

106 107 metallic gold content (Au), copper (Cu) and Global investment US$ 431 million Type of site silver (Ag).

Investment - Mineral reserves106 7.2 Mt @ 5.09 g/t Au, 0.22 oz/t Ag implemented Start of construction 2021 Type of mine Underground Start of operations 2023 Mine lifespan108 7 years Employment To be defined Energy power Not available Infiltration water collected in Underground works Water source108 ☒ New (greenfield) ☐ Expansion (brownfield) 3,000 tons per day Type of project Plant capacity106 ☐ Replacement (brownfield)

☐ Reutilization (greenfield) Estimated annual 150,000 fine ounces of gold

production

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility The company is currently carrying out pre-feasibility studies of the project. Also, on October 2, 2017, it presented its application for approval of the Mining plan for preparation and development activities to the ☐Feasibility Ministry of Energy and Mines (MINEM), which is In evaluation. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd Approved by R.D. N ° 099-2017-MEM / DGAAM on March 31, 2017. It also has a First Sustainability Technical ☐Not submitted Report (1st ITS) Approved on January 11, 2018 by R.D. No. 0009-2018-SENACE-JEF / DEAR; which aims to analyze the proposed changes (relocation of a ventilation chimney and inclusion of a sludge drying pond) to ☐In preparation the third modification of the EIAsd and its effects on the environment. ☐In evaluation ☒Approved

Start of exploitation activities The company presented on (Mining plan) Beneficiation October 2, 2017 before the Ministry ☐Not submitted of Energy and Mines (MINEM) its concession request for approval of the Mining ☒Not submitted Without authorization of Beneficiation ☐In preparation concession plan for preparation and ☐In evaluation ☒In evaluation development activities. ☐ ☐Approved Approved

Additional data of the project: In June 2016, the Public Hearing of the Environmental Impact Assessment (EIAd) was held, obtaining a good acceptance by the members of the communities and the inhabitants of the district of Ichuña. It should be noted that the audience was 100% Quechua, which was widely accepted by the local authorities as well as the population. .

106 Corporate presentation, Buenaventura, June 2018. 107 Annual Report, Buenaventura, 2017 108 Approval of the Environmental Impact Assessment through R.D. 099-2017-MEM / DGAAM dated March 31, 2017. San Luis

Operator Reliant Ventures S.A.C. Investor(s) 100%: SRR Mining Inc. ( Canada)

LOCATION

Region Áncash Province(s) Yungay District(s) Shupluy The project is located at an altitude between 3,600 to 4,850 masl.

MAIN DATA OF THE PROJECT

Global investment109 US$ 100 million Type of site110 Epithermal deposit of silver (Ag) and gold (Au)

Investment 0.503 Mt @ 17.95 g/t Au, 446.14 g/t Ag US$ 50 million Mineral reserves111 implemented Start of construction To be defined Type of mine Underground Start of operations To be defined Mine lifespan110 3.5 years Employment To be defined Energy power110 3.4 MW Water source111 Surface water (Quebrada Huanchuy)

☒ New (greenfield) Plant capacity111 400 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) Estimated annual 1.86 million ounces of silver

☐ Reutilization (greenfield) production110 78,000 ounces of gold

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility On June 4, 2010, the Feasibility Study of the project was published. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company has an Environmental Impact Assessment (EIA) of the "Ayelen Vein Exploitation Project and ☐Not submitted San Luis Gold and Silver Mineral Processing" Approved by Directorial Resolution No. 289-2012-MEM / AAM dated September 10, 2012. ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The development of the project includes the acquisition of surface lands of two communities, Ecash and Cochabamba, for which the company is negotiating the purchase. .

109 Application submitted to the Ministry of Energy and Mines dated June 1, 2018. 110 Technical Report of Feasibility, June 2010. 111 Approval of the Environmental Impact Assessment through R.D. 289-2012-MEM / AAM dated September 10, 2012. Tía María

Operator Southern Perú Copper Corporation, Sucursal del Perú Investor(s) 88.9%: Grupo México S.A.B. de C.V. (Mexico) 11.1%: Other (floating capital)

LOCATION

Region Arequipa Province(s) Islay District(s) Cocachacra, Mejía and Dean Valdivia The project is located at an altitude of 1,000 masl.

MAIN DATA OF THE PROJECT

Global investment112 US$ 1,400 billion Type of site Porphyry of copper (Cu) and Molybdenum (Mo)

Investment Tajo La Tapada: 425.338 Mt @ 0.43% Cu US$ 361 million Mineral reserves113 implemented Tajo Tía Maria: 225.34 Mt 0.29% Cu Start of construction 2019 Type of mine Open pit Start of operations 2022 Mine lifespan113 18 years 3600 in Construction Employment Energy power Not available 600 in operation

113 ☒ New (greenfield) Water source Desalinated sea water ☐ Expansion (brownfield) Plant capacity113 100,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 120,000 FMT of copper ☐ Reutilization (greenfield) production113

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company completed the engineering studies and has the Environmental Impact Assessment of the project. Currently, he is working together with the Peruvian Government to obtain Construction's permit, which has not ☐Feasibility been delivered due to social conflicts in the Tambo Valley. ☒Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd Approved on August 1, 2014 by R.D. N ° 392-2014-MEM / DGAAM. It also has a First Sustainability Technical Report of the Approved project on February 19, 2018 by R.D. N ° 030-2018-SENACE-JEF / DEAR. ☐Not submitted ☐In preparation ☐In evaluation ☒Approved

Start of exploitation activities (Mining plan) Beneficiation The Project Operator has not The project has a Request for Benefit ☒Not submitted concession yet submitted its application for ☐ Concession with observations as of October ☐In preparation authorization of exploitation Not submitted 5, 2018. activities ☒ ☐In evaluation In evaluation ☐ ☐Approved Approved

Additional data of the project: The conflicts over the Tía María project are based on the residents' concern regarding the impacts on the area and the use of water. However, the company has indicated that the leaching process will not generate any type of environmental risk, since the soil will be waterproofed and protected by geomembranes. In addition, said project will use ESDE technology, in such a way that its plants will not require a smelting process and, consequently, there will be no emission into the atmosphere. On the subject of water, Southern Copper discarded the use of the Tambo river basin as its source in its EIA and offered a solution through the use of desalinated seawater.

.

112 Results second quarter and six months 2018, Southern Corp, dated July 24, 2018. 113 Approval of the Environmental Impact Assessment through R.D. 392-2014-MEM / DGAAM dated August 1, 2014. Trapiche

Operator El Molle Verde S.A.C. Investor(s) 100%: Grupo Buenaventura (Peru)

LOCATION

Region Apurímac Province(s) Antabamba District(s) Juan Espinoza Medrano The project is located at an approximate altitude between 3,500 and 4,750 masl.

MAIN DATA OF THE PROJECT

Global investment114 US$ 700 million Type of site Porphyry of copper (Cu) and molybdenum (Mo) Investment - Mineral reserves114 912.8 Mt @ 0.37% Cu, 0.01% Mo implemented Start of construction To be defined Type of mine Open pit Start of operations To be defined Mine lifespan Not available Employment To be defined Energy power Not available

☒ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity114 45,000 tons per day Type of project ☐ Replacement (brownfield) Estimated annual 62,000 FMT of copper ☐ Reutilization (greenfield) production114

CURRENT STATUS OF THE PROJECT

Progress stage: ☒Prefeasibility Currently, the company is dedicated to the development of the prefeasibility study of the project. During 2017, joint work was carried out with the communities to complement the existing agreement of servitude for the land ☐Feasibility necessary for the project, achieving important advances. ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The project does not have a Detailed Environmental Impact Assessment (EIAd). However, the project has a ☒Not submitted Fourth Modification to its Semidetailed Environmental Impact Assessment(EIAsd) for exploration activities Approved by R.D. No. 404-2013-MEM / AAM on October 29, 2013. In addition, the company submitted its Fifth ☐In preparation Amendment to its EIASD on August 10, 2018, which is In evaluation. ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession. activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The company is working hard to strengthen relations with the Mollebamba community in order to lay solid foundations for the project. .

114 Corporate presentation, Buenaventura, June 2018. Yanacocha Sulfuros

Operator Minera Yanacocha S.R.L. Investor(s) 51.35%: Newmont Mining Corporation (USAU) 43.65%: Grupo Buenaventura (Peru) 5.00%: Sumitomo Corporation (Japan)

LOCATION

Region Cajamarca Province(s) Cajamarca District(s) Cajamarca, La Encañada and Los Byears del Inca The project is located at an approximate distance of 20 km north of the city of Cajamarca and 583 km from the city of Lima, at an altitude between 3,600 to 4,200 masl.

MAIN DATA OF THE PROJECT

Global investment115 US$ 2,100 billion Type of site116 Porphyry of gold (Au) and copper (Cu)

Investment Mineral 1,200 million pounds of Cu - implemented reserves/resources 3,600 koz of Au Start of construction 2020 Type of mine Open pit and Underground Start of operations 2023 Mine lifespan116 22 years 1060 in Construction Employment116 Energy power116 80 MW 675 in operation

☐ New (greenfield) Water source Not available ☐ Expansion (brownfield) Plant capacity Not available Type of project ☒ Replacement (brownfield) Estimated annual 6.5 million ounces of gold

☐ Reutilization (greenfield) production 1,200 million pounds of copper

CURRENT STATUS OF THE PROJECT Progress stage: In 2017, the second exploration tunnel, 420m long, was completed with the purpose of exploring the oxides zone south of Chaquicocha. During 2018, the exploration tunnel will be extended and culminated to the ☒Prefeasibility northwestern area of Chaquicocha with a length of 930m, and the first results of the drilling and metallurgical ☐Feasibility tests will be obtained, which will allow evaluating the mineral potential in these zones. It is estimated that by ☐Detailed engineering the end of 2018 the pre-Feasibility stage will be completed. ☐Construction

Environmental Impact The Modification of the Environmental Impact Assessment of the Yanacocha Project was presented on April Assessment -EIAd 30, 2018, whose objective of the project is to include in the planning of the operations of the Yanacocha mining complex the Expansion, modification and / or relocation of main components and existing support facilities ☐Not submitted (previously approved). On the other hand, the objective of the study is to integrate in a single Environmental ☐In preparation Management Instrument (IGA), the three metallic operative sectors (Yanacocha Este, Yanacocha Oeste and ☒In evaluation Cerro Negro). ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession Without authorization of Beneficiation ☒Not submitted not yet submitted its request for concession ☐In preparation authorization of exploitation ☒Not submitted activities. ☐In evaluation ☐In evaluation ☐Approved ☐Approved

Additional data of the project: The Yanacocha Sulfuros project is within the current operating zone and consists of the processing of sulphide minerals for the production of copper and gold, with which the life of the mine would be substantially extended. Among the components to be modified, we can mention some such as Tajo Yanacocha Stage 2 (green), Caracho Marleny Norte Pit, Carachugo Phase III Pit, Modification of Chaquicocha Subterráneo Stage 2, Pad of Leaching Yanacocha Stage 8, La Quinua Process Plant, Tailings Reservoir Pampa Larga, among others. .

115 Annual Report, Buenaventura, 2017 116 Modification of the Environmental Impact Assessment, May 2018 Zafranal

Operator Compañía Minera Zafranal S.A.C. Investor(s) 80%: Teck Resources Copper (Canada) 20%: Mitsubishi Materials Corporation (Japan)

LOCATION

Region Arequipa Province(s) Castilla and Caylloma District(s) Huancarqui, Lluta and Majes The project is located at an altitude between 1,400 and 2,900 masl., Away from agricultural areas and more than 20 km from the nearest town

MAIN DATA OF THE PROJECT

Global investment117 US$ 1,157 billion Type of site118 Porphyry of copper (Cu) and gold (Au) Investment Mineral US$ 149 million 401 Mt@ 0.40% Cu, 0.07 g/t Au. implemented reserves/resources119 Start of construction 2020 Type of mine Open pit Start of operations 2023 Mine lifespan119 19 years 3000 in Construction Employment117 Energy power118 99 MW 800 in operation Water source118 Underground water ☒ New (greenfield) Plant capacity119 55,000 to 64,000 tons per day ☐ Expansion (brownfield) Type of project ☐ Replacement (brownfield) 75,000 FMT of copper Estimated annual (120,000 FMT the first 5 years) ☐ Reutilization (greenfield) production119 25,000 fine ounces of gold

CURRENT STATUS OF THE PROJECT

Progress stage: ☐Prefeasibility The company is developing the Feasibility study, which is expected to be completed by the end of 2018. ☒Feasibility ☐Detailed engineering ☐Construction

Environmental Impact Assessment -EIAd The company is preparing its detailed EIA for the project, which is expected to be completed during the third ☐Not submitted quarter of 2019. ☒In preparation ☐In evaluation ☐Approved

Start of exploitation activities (Mining plan) Beneficiation The Operator of the project has concession ☒Not submitted not yet submitted its request for ☒Not submitted Without authorization of Beneficiation ☐In preparation authorization of exploitation concession ☐In evaluation activities. ☐In evaluation ☐ ☐Approved Approved

Additional data of the project: The company is carrying out works to obtain the necessary permits for the preparation of the Environmental Impact Assessment and carrying out activities to expand its relationship with the communities. According to Teck Resources, it is planned to complete the Feasibility study and present its EIA in the fourth quarter of 2018. For which, the company plans to invest US $ 35 million, which are included in the capital expenditures for the development of the new mine. .

117 Request for Declaration of National Interest, submitted to the Ministry of Energy and Mines, July 2018. 118 Prefeasibility Technical Report dated June 10, 2016. 119 Corporate presentation, Compañía Minera Zafranal, dated March 6, 2017. PERU´S 2018 MINE CONSTRUCTION PROJECTS PORTFOLIO 25

MINISTRY OF ENERGY AND MINES PORTFOLIO OF MINE CONSTRUCTION PROJECTS Francisco Ísmodes Mezzano Minister of Energy and Mines Prepared by the Mining Promotion Office

Miguel Incháustegui Zevallos Walter Sánchez Deputy Minister of Mines Director of Mining Promotion

Jaime Gálvez Delgado General Director of Mining Promotion Responsible team: and Sustainability María Valeria Aguinaga Fonseca Management and Analysis MINISTRY OF ENERGY AND MINES Diego Guillermo Hoyos Huanca Economic analysis Av. Las Artes Sur 269 - San Borja Lima- Peru / Lima 41 Miguel Ángel Antezano Munaylla www.gob.pe/minem Technical analysis

General Directorate of Mining Promotion and Sustainability