History

Mallay was placed into production in 2012 by Compañía de Minas Buenaventura and operated continuously until mid-2018. During this time, the mine produced approximately 7.7 million ounces of silver, 123 million pounds of zinc, and 85 million pounds of lead from underground operations.

The operation included a dedicated 600 tpd flotation plant, tailings facility, and full surface infrastructure to support mining, processing, and exploration. Production ceased due to a combination of lower metal prices and shifting strategic priorities.

Excellon acquired the Mallay Mine in 2025 through the acquisition of the broader Oyón property package, which also includes the nearby Tres Cerros gold-silver project. With significant infrastructure in place, Mallay represents a near-term restart opportunity in a proven district, with potential synergies from nearby exploration.