- Cerro Vanguardia Mine
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Cerro Vanguardia Mine Location Location in Argentina
Cerro Vanguardia Mine48°23′09″S 068°15′49″W / 48.38583°S 68.26361°WCoordinates: 48°23′09″S 068°15′49″W / 48.38583°S 68.26361°W
Location Puerto San Julián Province Santa Cruz Country Argentina Owner Company AngloGold Ashanti 92.5%
Formicruz 7.5%Website AngloGold Ashanti website
Formicruz websiteJSE ANG Production Products Gold
SilverProduction Gold: 208,000 oz
Silver: 2,200,000 ozFinancial year 2009 History Opened 1998 The Cerro Vanguardia Mine is a gold and silver mine located 150 km north west of Puerto San Julián, in the Santa Cruz province of Argentina. It is majority-owned and operated by AngloGold Ashanti, which holds a 92.5% interest in the mine. The remaining 7.5% are owned by Formicruz (Fomento Minero de Santa Cruz Sociedad del Estado), a company owned by the province of Santa Cruz.[1]
In 2008, the mine contributed 3% to the company's annual production and employes in excess of 1,000 people. The Cerro Vanguardia mine consists of a number of small open pits.[1]
Contents
History
The gold deposit at Cerro Vanguardia was first discovered in 1976 and, in 1987, mining group Pérez Companc S.A. formed a mineral exploration joint venture with AMSA, Anglo American’s South American holding company.[2]
AngloGold, predecessor of AngloGold Ashanti, acquired a 46.23% interest in the project in 1998-99, and an additional 46.25%, the Pérez Companc stake, in July 2002, doubling its interest to 92.5%. AngloGold Ashanti owns the right to exploit the deposit for 40 years based on the Usufruct Agreement, signed in December 1996. Cerro Vanguardia, which was constructed at a total cost of US$ 270 million, was commissioned in late 1998.[3]
The mine suffered a difficult year in 2008, when production fell by 25% while the cash cost more than doubled.[1] The company did however manage to improve production in 2009 and lower the cash cost again. In 2009, the mine was also fatality-free for the seventh consecutive year.[4]
Future mining plans at Cerro Vanguardia include an underground operation, from 2010, and a heap leach operation.[4]
Gold production
Recent production figures of the mine were:
Year Production (oz) Grade Cost per ounce 2003 [5] 226,000 7.15 g/t US$ 143 2004 [5] 229,000 7.60 g/t US$ 156 2005 [5] 228,000 7.70 g/t US$ 171 2006 [6] 232,000 7.29 g/t US$ 225 2007 [4] 220,000 6.8 g/t US$ 261 2008 [4] 166,000 5.44 g/t US$ 608 2009 [4] 208,000 6.51 g/t US$ 355 2010 References
- ^ a b c AngloGold Ashanti: Country report Argentina accessed: 14 July 2010
- ^ Cerro Vanguardia Gold and Silver Mine, Argentina mining-technology.com, accessed: 14 July 2010
- ^ AngloGold annual Report 2003 AngloGold Ashanti website, accessed: 14 July 2010
- ^ a b c d e Annual Report 2009 AngloGold Ashanti website, accessed: 9 May 2010
- ^ a b c Annual Report 2005 AngloGold Ashanti website, accessed: 11 July 2010
- ^ Annual Report 2006 AngloGold Ashanti website, accessed: 11 July 2010
External links
AngloGold Ashanti Corporate Management James Motlatsi • Frank Arisman • Ferdinand Ohene-Kena • Wiseman Nkuhlu • Bill Nairn • Sipho Pityana • S. VenkatakrishnanMines AfricaNorth AmericaOceaniaSunrise Dam · TropicanaSouth AmericaRelated articles Categories:- Gold mines in Argentina
- Silver mines in Argentina
- Surface mines in Argentina
- AngloGold Ashanti
- Santa Cruz Province
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