Rio Alto Mining Limited (TSX: RIO; BVL: RIO; NYSE: RIOM; Frankfurt: MS2) is a Canadian based resource company focused on the development of the 21,000 ha La Arena gold / copper project, located in north central Peru, the most prolific gold mining district in the country.
The district is home to a number of world class and medium size gold mines including Barrick Gold's Lagunas Norte Mine, 15 km west of La Arena (2011 production: 763,000 ounces of gold ), Newmont's Yanacocha Mine, 100 km to the north (2011 production: 1.3 million ounces of gold), and 10km to the north of the privately owned La Virgen Mine (2010 production: approx. 80,000 ounces of gold).
La Arena contains 3.9 million ounces gold and 2.0 billion pounds copper in measured and indicated resources with additional inferred resources of 2.2 million ounces gold and 2.1 billion pounds copper. First gold poured at La Arena occurred on May 6, 2011 and 114,081 ounces of gold were produced during the first two quarters of 2012.
Rio Alto is also in the business of acquiring, exploring, and developing gold resources and advanced stage exploration projects in both Peru and Latin America. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Latin America. With a focused strategy towards mine production and development in the short term and an exploration strategy to discover additional mineral resources, Rio Alto is strongly positioned to generate significant value for its shareholders.