Minera IRL was initiated in 2000 by Investor Resources Ltd, a technical and financial consultancy based in Melbourne, Australia. The initiator, Courtney Chamberlain, built a team of executives who gained experience in the South American Andes working with Newcrest Mining and other companies during the 1990s.
 
On August 19, 2002, Minera IRL SA was registered in Lima, Peru by founding executives Barrie Sullivan and Diego Benavides.  The Company quickly built a portfolio of projects, including Corihuarmi (in October 2002), which became the group’s first gold mine.  In 2003, Goldmin Holdings was registered in the Cayman Islands, which formed the holding company for the group assets.  Registration of Goldmin was transferred to Jersey in 2006 and the name changed to Minera IRL Limited.

In 2006 an option was acquired from Rio Tinto over the Ollachea Project, located in the Puno district of southern Peru.  This now forms a key project for the company.

On April 2007, Minera IRL Limited completed the IPO and was listed on the Stock Exchange of London (AIM), raising £11.4 millions (equivalent to US$ 22 millions).  This capital was invested mainly in the construction of the companies first gold mine, Corihuarmi, located in the high Andes of central Peru.

On December 2007, Minera IRL Limited dual listed on the Risk Capital Segment of the Stock Exchange of Lima (MIRL), and was reallocated to the Production Company Segment in June 2008, following commencement of production at Corihuarmi.  In doing so, Minera IRL Limited became the first mining company to move from the Risk Capital Segment to the main board of the Lima Stock Exchange.

In March 2008, production commenced at the Corihuarmi Gold Mine.