The bodies of 13 workers at the Peruvian mine were found Sunday after the kidnapping of the men a week after the men were found as South American countries were caught in a surge in illegal mining and criminal violence.
Peruvian company Poderosa owns and operates the mine in the northwestern city of Pataz, and confirmed the guard's death after police search and rescue departments recovered the body.
"Poderosa lamented the deaths of 13 criminals who were brutal murdered by criminals who were allied with the illegal mining industry," the company said. The people were kidnapped by the mine on April 26.
Peru is the main exporter of copper and gold, and as precious metal prices rise in recent years, Peru has seen illegal gold mining speeds. Analysts estimate illegal mining in the country is worth more than $6 billion last year.
Meanwhile, President Dina Boluarte and the country's Congress government (both under 5% approved ratings) have come under fire for failing to address the wave of crime in the Andean country. The owner, bus driver and barber recently took street protests to extort rackets.
Criminal violence - powered by illegal mining, drug trafficking and ransom rackets - is increasing throughout South America, with a state of emergency declared or extended this year in Peru, Ecuador and Colombia.
The Poderosa mine is a recurring target, sometimes causing underground fire exchanges between security personnel and armed criminals. It added that 39 employees at the mine have been murdered since production began in 1980.
The company said in a statement on Sunday that the state of emergency declared last month had barely stopped violence in the presence of a police officer in Patatz.
"If we repeatedly ask that police continue to avoid access and prohibit illegal mine entrances for criminals to use as bases and shelters, it is impossible to defeat crime," Poderosa said.
The company also criticized a government plan that allows temporary permits to be granted to informal small miners, allowing them to continue mining while awaiting formal approval.
The plan was extended last November despite criticisms from analysts and mining companies for illegal mining, as formally operating miners were required to be exempted from criminal liability.
A spokesperson for the Interior Ministry who oversees police did not respond to a request for comment.