BUENOS AIRES -(Dow Jones)- Canada's Yamana Gold Inc. (AUY) on Wednesday formally inaugurated its Gualcamayo gold mine in the northern San Juan province of Argentina.
Mining began in late 2008 with the processing of ore in early 2009, while commercial production started July 1, Yamana said in a statement.
Gualcamayo, built in less than 20 months, is "expected to be one of Yamana's most prolific mine properties," it said.
The open-pit heap-leach mine has three main mineral deposits: QDD, Amelia Ines and Magdalena, or AIM, and QDD Lower West.
"Based on drilling results, Yamana is of the view that the project will ultimately also include an underground mining operation," Yamana said.
Total production this year is expected to be about 120,000 ounces, according to a recent company presentation. Gold production could rise to over 200,000 ounces per year once all three main mineral deposits are in production, Yamana said.
The total reserve and resource base of approximately 3.9 million ounces of gold includes 2.9 million ounces in reserves, it said.
Also in Argentina, the company recently said it's started looking for partners for its Agua Rica project in the province of Catamarca, where it has found copper, gold, silver, molybdenum and rhenium.
The company said it secured the main environmental license in 2009 and expects to secure sectoral permits within 18 months. Average annual gold production could be around 135,000 ounces, it said.
Yamana also owns 12.5% of the Alumbrera mine in northwest Argentina, which is 50% owned by Xstrata PLC (XTA.LN).
As well as Argentina, Yamana Gold has operations in Brazil, Chile, Mexico and Central America.
- By Matthew Cowley, Dow Jones Newswires; +54 11 4103 6740; matthew.cowley@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=JWM4neLPtDYv8t8s3If73Q%3D%3D. You can use this link on the day this article is published and the following day.
Mining began in late 2008 with the processing of ore in early 2009, while commercial production started July 1, Yamana said in a statement.
Gualcamayo, built in less than 20 months, is "expected to be one of Yamana's most prolific mine properties," it said.
The open-pit heap-leach mine has three main mineral deposits: QDD, Amelia Ines and Magdalena, or AIM, and QDD Lower West.
"Based on drilling results, Yamana is of the view that the project will ultimately also include an underground mining operation," Yamana said.
Total production this year is expected to be about 120,000 ounces, according to a recent company presentation. Gold production could rise to over 200,000 ounces per year once all three main mineral deposits are in production, Yamana said.
The total reserve and resource base of approximately 3.9 million ounces of gold includes 2.9 million ounces in reserves, it said.
Also in Argentina, the company recently said it's started looking for partners for its Agua Rica project in the province of Catamarca, where it has found copper, gold, silver, molybdenum and rhenium.
The company said it secured the main environmental license in 2009 and expects to secure sectoral permits within 18 months. Average annual gold production could be around 135,000 ounces, it said.
Yamana also owns 12.5% of the Alumbrera mine in northwest Argentina, which is 50% owned by Xstrata PLC (XTA.LN).
As well as Argentina, Yamana Gold has operations in Brazil, Chile, Mexico and Central America.
- By Matthew Cowley, Dow Jones Newswires; +54 11 4103 6740; matthew.cowley@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=JWM4neLPtDYv8t8s3If73Q%3D%3D. You can use this link on the day this article is published and the following day.
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/base/copper-d.gif)
No hay comentarios:
Publicar un comentario
Thanks for your interest on Argentina Mining's Blog. Please leave your comment on this article in spanish or english. / Gracias por su interés en el Blog de Argentina Mining. Por favor deje su comentario sobre este artículo en español o inglés.