Silver Mountain Prepares to Revive Reliquias Mine in Peru

Canadian firm Silver Mountain Resources is on track to restart production at its Reliquias underground polymetallic mine in central Peru during the third quarter of 2026. The project marks the revival of an asset that has been dormant for over five years following social unrest and the liquidation of its former owner. This restart is a significant development for the Peruvian mining sector, signaling renewed investment in the Huancavelica region and the potential for a new polymetallic mining district.

Silver Mountain Resources has reached a critical milestone with the rehabilitation of the Reliquias concentrator plant, which is now 95% complete. Industrial testing of the equipment circuit commenced in early July using low-grade ore as part of the commissioning process. The company reports that the crushing circuit is fully operational, while the grinding and flotation circuits have successfully completed key no-load operating tests and equipment checks. The remaining technical work is focused on finalizing auxiliary systems and proceeding with hot commissioning and operational validations.

The Reliquias mine, located in the Huancavelica region, has a complex history, having ceased commercial operations in early 2017. The site remained paralyzed for more than five years due to social protests and the eventual liquidation of its previous owner, Corporación Minera Castrovirreyna. Silver Mountain acquired the asset in 2022 and initiated the rehabilitation of the concentrator plant in 2024. The project targets a concession consisting of three blocks that host polymetallic veins rich in silver as well as gold-enriched breccias.

Looking ahead, Silver Mountain plans to release an updated estimate of mineral resources and a preliminary economic analysis in the fourth quarter of 2026. CEO José M. García has outlined a broader strategy to consolidate a polymetallic mining district in the region, supported by intensive exploration across the concession. This restart reflects a broader trend of Canadian investment in Latin American mineral resources, aiming to capitalize on the site's silver and gold potential while navigating the macroeconomic and fiscal landscape of Peru.