Operational standards increasing mining value in Peru

from Magazine | BBR - November 2021

by The Boston Business Review

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UNLEASHING VALUE FOR A BETTER FUTURE

Lagunas Norte Mining Unit, in Peru

Minera Boroo Misquichilca is the Asian mining company’s first venture into Latin

America. Its know-how has enabled

Laguna Norte to increase its production in gold and other minerals

Produced by

Jassen Pintado

Intervewee

Jaime Zúñiga Ide, General Manager for Minera Boroo Misquichilca

Boroo is a multicultural company operating in Central Asia and South America, it was previously known as the OZD Asia Pte Ltd. holding. It’s main activity is the acquisition, development and operation of gold producing properties, worldwide.

Boroo is result-centered and employee-oriented. The company’s portfolio is made up of important assets, globally, some well into production processes and others in an exploration phase.

Venturing into Latin America via Lagunas Norte, in Peru

Boroo acquired the Lagunas Norte mining unit and its projects in the Peru Northern Sierra, becoming Minera Boroo Misquichilca as a legal entity.

The operation is focused on long-term value generation for its stakeholders, besides taking part in the sustainable development of its strategic partners, such as the company’s personnel, contributing companies and the communities where the mining company operates.

Another key factor in Minera Boroo Misquichilca is staff management. The company relies on development programs to detect and develop those with a future in leadership roles.

“I’ve been able to confirm that every successful company is based on staff management,” said Jaime Zúñiga Ide, General Manager of Minera Boroo Misquichilca.

Knowledgeable leadership with multicultural experience

Zuñiga graduated as a Chemical

““ I have big ambitions and plans for Minera Boroo Misquichilca, such as turning our business into a world class company

- Jaime Zúñiga Ide, General Manager for Lagunas Norte - Minera Boroo Misquichilca

Engineer at the Federico Santa María Technical University (in Chile). His apprenticeship included different leadership-related subjects, including an MBA from the Adolfo Ibáñez University (Chile) and the Tsinghua University School of Economics and Management (China), as well as the Management Development Program at the University of Miami Patti and Allan Herbert Business School.

Zúñiga’s working experience has taken place all over the continent, as his career has led him to Chile, his home country, and also Brazil, the Dominican Republic, Peru, and the US, gathering a multicultural understanding which has proved to be useful, businesswise.

“I have big ambitions and plans for Minera Boroo Misquichilca, such as turning our business into a world class company,” Zúñiga explained. A productive past precedes a brilliant future

When Boroo acquired Lagunas Norte, the mine was in a care and maintenance stage with gold and silver production through secondary leaching.

The mine, which has a positive reputation in gold production, is destined to become a world class operation, and, once being part of Boroo, the company’s goal is to value the current high mining potential, from which significant growth could be achieved.

Beyond the current state of care and maintenance Lagunas Norte is undergoing, production continues through secondary leaching, resulting in doré bars -a mixture of gold and silver-.

“In parallel, we are working on projects to optimize and value more

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mineral resources within the mining unit,” the executive added.

Experience in value generation

Boroo’s work stands out for its success after acquiring mines in care and maintenance status, and afterwards extending their useful life, adding value to these assets by optimizing mineral resources, capital investments and human resources.

Among other traits, Boroo operates with efficiency, innovation, operational excellence, disciplined allocation of capital, environmental and social management, as well as responsible governance, as well as a working environment in which personnel have easy access to learn new skills, knowledge and gather the necessary experience to prosper. Strategic alignment of suppliers

Minera Boroo Misquichilca relies on local sourcing. The company is committed to the development of local businesses, contributing not only to the development of their leadership abilities, but also to help them increase their clientele and the number of different industries they serve, thus becoming sustainable businesses.

Suppliers must align with Minera Boroo Misquichilca’s three fundamental principles:

• People’s safety • Care for the environment • Working along surrounding communities

“All of our suppliers are important and we consider them strategic

““ We are working on projects to optimize and value more mineral resources

- Jaime Zúñiga Ide, General Manager for Lagunas Norte - Minera Boroo Misquichilca

partners whom we value for their commitment to fulfill our goals,” Zúñiga declared.

Important achievements in health and safety

One of Boroo’s most important contributions to the Lagunas Norte operation is its solid health and safety culture, which in 2020 achieved the best indexes in these subjects since operations began in 2005.

Since the start of the COVID-19 pandemic, Minera Boroo Misquichilca became one of the first companies in the area to deploy prevention, surveillance and control protocols, making its personnel’s health and safety a priority.

Also, Boroo is the only mining company among a 20 Northern Peru businesses alliance, which installed a modern molecular biology laboratory to ease access and response time of PCR-type tests for the population of the entire La Libertad region and the company’s workers.

“Health and safety for everyone working in our mining unit is top priority,” the general manager commented.

Contributions to the community

Boroo is constantly bringing a positive impact in the economy of its surrounding communities as well as in the countries where the company operates, in a way that the company’s vision in the present becomes a reality in the future.

One of the company’s goals is to become a reliable partner able to unleash all the benefits of extracted minerals, contributing both to those investing in its discovery and production as well as for stakeholders.

Upcoming increase in productivity

Boroo’s portfolio currently includes both advanced and early stage projects; permits for the latter are being obtained as well as those required to extend Lagunas Norte’s useful life, after planning a mine

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expansion which will receive important investments which will allow to increase ore reserves progressively, thus fulfilling growth goals with support from the company’s experienced team.

Mid-term goals include improvements to optimize the current secondary leaching operation, the development of a project for gold recovery from carbonaceous oxide ore through the Carbon Material Oxides Project (CMOP).

For the long term, the company plans the development of a gold recovery from sulphide ore project, through the Refractory Material Project (PMR).

All of these plans require investments for the acquisition of new operation and processing infrastructure.

“We wish to close 2021 fulfilling all of our goals regarding people’s health and safety, caring for the environment and strengthening our relationships with neighboring communities, as well as achieving our production objectives,” finalized Jaime Zúñiga Ide, General Manager for Lagunas Norte - Minera Boroo Misquichilca.

FOUNDED: 2018

INDUSTRY: MINING

CONTACT:

www.boroomc.com.sg informes@lagunasnorte.com

@mineraboroomisquichilca

We are a group of investors and experts in the infrastructure sector with the objective of developing and building with strong bonds so that constructions are of great value and forever.

We set our bases to to respond effectively to the great challenges, because we understood that it is possible to believe in an infrastructure at international levels with the current requirements.