Interview: Unlocking Peru's Rich Past for a Greener Future
- Miningvisuals
- Jun 25
- 5 min read
Updated: Jun 26
Interview: Steven Zadka, Executive Chairman at Cerro De Pasco Resources (CDPR)
The Cerro de Pasco mining district in Peru is legendary, a place where mineral wealth has been extracted for centuries. But with such a long history comes a complex legacy. We recently had the opportunity to talk to Steven Zadka of Cerro De Pasco Resources (CDPR) to discuss how the company is not just confronting this legacy, but transforming it into a compelling modern mining story rooted in sustainability, innovation, and strategic resource recovery. Our conversation revealed a company at a pivotal juncture, turning historical challenges into remarkable opportunities.
I. Introduction & CDPR's Unique Proposition:
"Welcome to MiningVisuals.com. For our readers who might be new to Cerro De Pasco Resources, could you start by giving us an overview of the company's core mission and the historical significance of the Cerro de Pasco mining district?"
Cerro de Pasco Resources (CDPR) is a Canadian company focused on sustainably reprocessing over 150 million tonnes of legacy tailings, stockpiles, and mineralized waste in central Peru. Our mission is to recover valuable metals—silver, zinc, lead, copper, and critical minerals—while cleaning up historic environmental liabilities. The Cerro de Pasco mining district has been continuously mined since the 1600s and is one of the world’s richest and most enduring polymetallic centers.
"Could you expand on the strategic advantages that make this 'circular economy' model—reprocessing historical waste instead of conventional mining—so compelling today?"
Reprocessing legacy tailings is central to our approach. With over 70 million tonnes of silver-rich waste, Quiulacocha represents a rare opportunity to supply critical and strategic metals while reducing environmental risks. This model supports ESG objectives by minimizing new land disturbance, remediating legacy impacts, and extending the life of historic resources in a responsible, low-footprint way.
II. Quiulacocha Tailings Project - Progress & Milestones:
"The Quiulacocha Tailings Project is central to your strategy. Could you provide our audience with an update on its current development status and the key milestones you've achieved recently?"
In the past year, we secured Peru's first-ever land easement for tailings drilling, allowing us to complete a 40-hole Phase 1 program. The results confirmed high-grade silver, zinc, lead, and gallium, exceeding historical expectations. We also completed a major equity raise, strengthened Eric Sprott's position as a core investor, and brought new institutional capital into the project. We're now advancing metallurgical work and preparing for Phase 2 drilling.
"Looking ahead, what are the next critical catalysts investors should be watching for through the rest of 2025 and into 2026?"
Key catalysts include results from ongoing metallurgical studies, the launch of Phase 2 drilling, updated resource modeling, and advancement of permitting and engineering. We're also pursuing strategic partnerships and offtake opportunities to position the project for development.
"Advancing a project of this scale must come with challenges. Can you shed some light on any specific technical or permitting hurdles you’ve recently overcome?"
We’ve overcome several major hurdles. In 2024, we resolved a long-standing permitting issue by securing a government easement and became the first company authorized to drill tailings in Peru. Technically, we delivered a successful, on-schedule campaign and confirmed strong grades. We also renewed surface rights with the local community, reinforcing our social license.
III. Sustainability, ESG & Community:
"Beyond the economics, the Quiulacocha project has significant environmental and social implications. Can you elaborate on the tangible ESG benefits CDPR aims to deliver?"
Reprocessing Quiulacocha means removing and stabilizing waste that has contributed to acid drainage and land degradation. Our work will improve water quality, restore land, and reduce long-term environmental risk. Socially, the project creates jobs, builds capacity, and strengthens the local economy. We see this as both a resource and remediation project.
"How does CDPR engage with local communities and authorities to ensure development aligns with their needs?"
We maintain ongoing dialogue with the community of Quiulacocha, backed by formal surface rights agreements. We also coordinate closely with municipal and national authorities to align our plans with public interests. Local hiring and skills development are part of our commitment to shared, long-term value.
IV. Financials, Market, & Technology:
"Could you discuss CDPR's strategy for funding the development of Quiulacocha and the key economic drivers for the project? "
We’re pursuing a capital-efficient model: a mix of equity, non-dilutive government-backed financing, and strategic partnerships. In 2024, we completed a successful raise that brought in institutional capital and expanded Eric Sprott’s position. We’re also engaged with the U.S. DFC and other allied financial institutions. The project is underpinned by a large, high-grade resource and a low capital intensity compared to conventional mining.
"Your Phase 1 results also highlighted the presence of gallium. Given its status as a critical mineral, could you discuss the strategic and economic implications of this for Cerro de Pasco?"
Our Phase 1 program identified consistent gallium values across the deposit. Given gallium’s importance in semiconductors, 5G, and defense technologies—and its limited supply outside non-U.S.-allied jurisdictions—this finding has strategic implications. While we're still advancing metallurgical work to confirm recovery pathways, the potential to produce gallium as a by-product could enhance both economic returns and geopolitical relevance.
"Are you utilizing any innovative technologies or metallurgical processes that you believe give the company a distinct advantage?"
Yes. We’re applying a staged flowsheet tailored to fine particle tailings, using a combination of grinding, flotation, and selective leaching. This allows us to target silver, zinc, and other metals with higher recovery and lower environmental impact. We’re also advancing mineralogical studies to optimize critical mineral recovery.
V. Vision & Outlook:
"Looking beyond Quiulacocha, what is CDPR's longer-term vision?"
Our goal is to develop an integrated circular economy platform at Cerro de Pasco. Beyond metal recovery, we see potential in downstream processing of pyrite to produce sulphuric acid, fertilizers, or even energy inputs. We're building a sustainable resource recovery model that combines economic, environmental, and strategic value.
"Finally, what is the single most important message you'd like to convey to investors about Cerro De Pasco Resources' trajectory right now?"
We’ve proven the model works—you can recover valuable metals from legacy tailings while delivering real ESG impact. With strong technical results, institutional backing, and increasing government alignment, CDPR is uniquely positioned to advance one of the most compelling circular economy projects in global mining.
For more information on Cerro De Pasco Resources and their innovative work, please visit their official website.
Disclaimer
The information presented in this interview is for informational purposes only and should not be considered as investment advice. The views and opinions expressed are those of the interviewee and do not necessarily reflect the official policy or position of MiningVisuals. While we strive to present accurate and timely information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information contained herein. Readers are strongly encouraged to conduct their own research and due diligence, and to consult with a qualified financial advisor before making any investment decisions. For complete and official information regarding Cerro De Pasco Resources, please refer to the company's public filings on SEDAR.
