Southern Peaks Mining
Southern Peaks Mining was a privately held Peruvian underground copper producer, operator of Compañía Minera Condestable (largest unlisted copper producer in Peru). In January 2026 it sold 99.1% of Condestable to Rio2 for ~US$241M, retaining development-stage Ariana.
- Company typePrivate
- Founded2010
- HeadquartersLima, Peru
- Headcount—
- GTM typeB2B
- OfferingServices
What Southern Peaks Mining does
Southern Peaks Mining (SPM) is a privately held Peruvian mining company founded in 2010 and owned by management and the private equity firm Global Natural Resource Investments (GNRI). Until January 2026, SPM operated Compañía Minera Condestable (CMC), an underground copper mine in Mala, Cañete (Lima region), producing approximately 23,000 tonnes of copper equivalent per year from two contiguous IOCG (Iron Oxide Copper Gold) deposits, with gold (12,900 oz) and silver (304,800 oz) as by-products. Following the January 2026 divestiture of 99.1% of Condestable to Rio2 Limited for approximately US$241 million, SPM retains a development-stage copper-zinc project (Ariana Operaciones Mineras) in Marcapomacocha, Junín, with planned capacity of 2,000 tonnes of ore per day, and continues to function as a corporate vehicle with significant cash on hand.
The company's core technology stack centers on underground IOCG mining with dry-stack tailings via a recently commissioned Tailings Filtration Facility (TFF), which lifts water recovery from ~60% to ~90% and supports the 8,400 tonnes per day processing capacity (targeting 10,000 tpd pending EIA approval). SPM has differentiated itself through sustainability infrastructure: 100% renewable energy supply under a Statkraft Peru agreement (AENOR-certified), an underground electric vehicle fleet (BYD, Volvo, JMC trucks and an 80-ton Scania electric truck prototype developed jointly with Enel X Way charging), and a portfolio of ESG certifications including The Copper Mark, ISO 14001, ISO 45001, the Blue Certificate, and Carbon Footprint stars.
SPM's business model is B2B commodity sales of copper concentrate with by-product credits, priced off global metal benchmarks rather than listed pricing tiers, and distributed via direct offtake to international copper smelters and metal trading houses. The company reports a competitive C1 cash cost of US$1.00/lb after by-product credits, a stated mine life to 2039 on 36.5 Mt of proven and probable reserves (82.1 Mt M&I resources), an after-tax NPV of US$710 million (8% discount), and US$1,147 million of cumulative undiscounted after-tax free cash flow over remaining life (all on Condestable as valued prior to divestiture).
Southern Peaks Mining firmographics
Firmographics- Name
- Southern Peaks Mining
- Legal name
- Southern Peaks Mining
- Website
- https://southernpeaksmining.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Short description
- Southern Peaks Mining was a privately held Peruvian underground copper producer, operator of Compañía Minera Condestable (largest unlisted copper producer in Peru). In January 2026 it sold 99.1% of Condestable to Rio2 for ~US$241M, retaining development-stage Ariana.
- Ownership category
- akta.pro rank
Southern Peaks Mining industry classification
Industry- Product category
- Copper Mining
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (212220), Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
- akta.pro secondary industries
- Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper Exploration & Resource Development (IMAKADAA)
Keywords
Where Southern Peaks Mining is headquartered
LocationHeadquarters
- HQ city
- Lima
- HQ country
- Peru
- HQ region
- Latin America
Offices2 records
Markets served
Southern Peaks Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D
Revenue model
- Copper Concentrate Sales: Primary revenue stream from selling copper concentrates produced at the Condestable mine, with copper being the main commodity accounting for the majority of revenue.
- Gold and Silver By-product Sales: Secondary revenue from gold and silver recovered as by-products during copper concentrate processing, contributing to overall mine economics.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Southern Peaks Mining product offering
Product offeringCore offering
Southern Peaks Mining is a privately held Peruvian mining company that extracts, processes, and markets mineral concentrates from underground copper mines. Its primary asset, Compañía Minera Condestable (CMC), operates two contiguous underground mines (Condestable and Raúl) producing copper concentrate with gold and silver by-products at 8,400 tonnes per day capacity. The company also develops the Ariana copper-zinc project in Junín, Peru.
Product overview
Southern Peaks Mining (SPM) operates as an underground copper mining producer in Peru. The company's primary asset is Compañía Minera Condestable (CMC), an underground copper mine with IOCG-type deposits in Lima, currently processing 8,400 tonnes per day with gold and silver as by-products. A planned expansion targets 10,000 tonnes per day. SPM also holds the Ariana Mining Project (copper and zinc) under construction in Junín. A key infrastructure product is the Tailings Filtration Facility, which enables dry-stack tailings management and improved water recovery.
Differentiator
Problem solved
Functional benefit
Products and services
- Compañía Minera Condestable (CMC) Underground copper mine operating two contiguous deposits (Condestable and Raúl) in Cañete, Lima, Peru, with processing capacity of 8,400 tonnes per day producing copper concentrate with gold and silver by-products for sale to smelters and metals trading houses. The mine has NI 43-101-supported reserves of 36.5 million tonnes proven and probable, 82.1 million tonnes measured and indicated resources, mine life to 2039, and an expansion plan targeting 10,000 tonnes per day.
- Ariana Mining Project Copper and zinc deposit under construction in Marcapomacocha, Junín, Peru, with planned processing capacity of 2,000 tonnes of ore per day, developed as SPM's growth pipeline following the 2026 divestiture of Condestable.
- Tailings Filtration Facility (TFF) Dry-stack tailings filtration plant at Condestable with design capacity of 8,400 tonnes per day, increasing water recovery from approximately 60% to approximately 90% and enabling dry-stack tailings storage as part of responsible tailings management.
Quantifiable outcome
- Cash cost C1 of US$1.00/lb Cu after by-product credits (competitive industry benchmark)
- +3 more outcomes
Companies that use Southern Peaks Mining
Customer profileSegments1 record
Ideal customer profiles1 record
Southern Peaks Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Southern Peaks Mining partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and strategic.
- Statkraft PerucoreRenewable energy supply agreement under which Southern Peaks Mining operates 100% with renewable (hydropower) energy. This partnership enables SPM to be the first mining company in Peru to operate entirely on renewable energy, certified by AENOR.
- Enel X WaystrategicPartnership for electric vehicle charging infrastructure in underground mining. Enel X Way provides WayPump 150K charging solution for the first 100% electric truck in underground mining operations in Peru.
- BYDstrategicStrategic partner providing 35-ton BYD electric truck for underground mining operations as part of electric vehicle pilot program.
- ScaniastrategicPartnership for design and development of 80-ton capacity truck prototype, first of its kind in the country, now being replicated by other mining companies.
- SLR Consulting (Canada) Ltd.strategicLeading global mining consultancy engaged for NI 43-101 technical reports and mineral resource/reserve estimation for Condestable mine.
Scale indicators10 records
Recent moves8 records
Expansion highlights4 records
Southern Peaks Mining competitors and assessment
Company assessmentDirect peers
- Southern Copper Corporation: Peru-headquartered copper mining major operating open-pit and underground mines in Peru and Mexico. The most direct geographic and commodity peer to Southern Peaks Mining, with similar copper concentrate production model.
- Volcan Compañía Minera: Peruvian underground mining company producing zinc, lead, copper, and silver concentrates from polymetallic deposits in the central Peruvian highlands. Directly comparable as a Peru-based underground producer; several SPM executives previously worked at Volcan.
- Hochschild Mining: Peruvian precious metals miner operating underground silver-gold mines in Peru, with diversified underground production. Comparable Peruvian underground operator; SPM's CFO previously held a senior accountant role at Hochschild.
- Pan American Silver: Major silver producer with significant underground mining operations in Peru, Mexico, Bolivia, and Argentina. Closely comparable as a Peru-focused underground miner; SPM's COO previously served as Pan American Silver's Peru country manager.
- Rio2 Limited: Canada-based gold/copper developer that acquired 99.1% of the Condestable mine from Southern Peaks Mining for ~US$241 million in January 2026. A direct peer that now operates the asset previously owned by SPM and represents the obvious comparable in Peru-focused underground mining.
- First Quantum Minerals: Mid-to-large copper-focused miner with operations across multiple jurisdictions producing copper concentrates and cathode. Comparable as a copper-concentrate producer of similar scale to SPM's historical asset profile.
- Hudbay Minerals: Copper-focused mid-tier miner with underground and open-pit operations producing copper concentrate with gold and silver by-products. Closely comparable mine type, product mix (Cu concentrate with Au/Ag credits), and by-product credit cost structure.
- Capstone Copper: Mid-cap copper miner with operating mines in the Americas producing copper concentrates, including from underground operations. Closely comparable mid-tier copper-concentrate business model and Americas geographic footprint.
Broad incumbents
- Glencore: Global diversified mining and commodities trading major with extensive copper and zinc operations, including trading relationships that consume concentrates. Comparable as a broad incumbent in copper trading and a former employer of SPM's COO.
- Freeport-McMoRan: One of the world's largest publicly listed copper miners, with significant underground block-cave and open-pit copper operations globally producing concentrates with gold and silver by-products. Comparable as a major copper concentrate producer of similar product mix.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Southern Peaks Mining social profiles
Digital presenceSouthern Peaks Mining compliance and trust
Trust signalCompliance6 records
Southern Peaks Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Southern Peaks Mining leadership team
Management profileNumber of profiles
Profiles10 records
Southern Peaks Mining subsidiaries and ownership
Company hierarchySubsidiaries2 records
Southern Peaks Mining funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Southern Peaks Mining M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Southern Peaks Mining
What does Southern Peaks Mining do?
Southern Peaks Mining is a privately held Peruvian mining company that extracts, processes, and markets mineral concentrates from underground copper mines. Its primary asset, Compañía Minera Condestable (CMC), operates two contiguous underground mines (Condestable and Raúl) producing copper concentrate with gold and silver by-products at 8,400 tonnes per day capacity. The company also develops the Ariana copper-zinc project in Junín, Peru.
Is Southern Peaks Mining a public or private company?
Southern Peaks Mining is a private company. It is classified as private equity controlled and is currently operating.
When was Southern Peaks Mining founded?
Southern Peaks Mining was founded in 2010.
Where is Southern Peaks Mining based?
Southern Peaks Mining is headquartered in Lima, Peru, in the Latin America region.
How does Southern Peaks Mining make money?
Two revenue lines are on record. Copper Concentrate Sales are the primary driver. The others are gold and Silver By-product Sales.
Who are Southern Peaks Mining's main competitors?
Direct peers on record are Southern Copper Corporation, Volcan Compañía Minera, Hochschild Mining, Pan American Silver, Rio2 Limited, First Quantum Minerals, Hudbay Minerals and Capstone Copper. Broad incumbents are Glencore and Freeport-McMoRan.
Does Southern Peaks Mining have an API?
No public API is recorded for Southern Peaks Mining.
What industry is Southern Peaks Mining in?
Southern Peaks Mining's product category is Copper Mining. Its primary akta.pro industry code is IMAKADAB, Copper Ore Mining (Open-Pit & Underground), with a secondary code of IMAKADAC, Copper Concentration (Crushing, Grinding, Flotation). Its NAICS code is 212230 and its SIC code is 1000.