A mine is located within the Choquelimpie volcano. Mining has been reported as early as 1643. Before 1980 roughly gold and silver were obtained. Estimates made in 1986-1987 indicate the existence of more than 11 million tons of ore. Ore grades estimated are gold and silver. Mineralization which formed the Choquelimpie mineral deposits occurred through pulses of hydrothermal processes in acid sulfate environments and subsequent supergene processes. Such processes may now be underway at Guallatiri.