Argentina-Cerro Vanguardia Mine
|Location||Puerto San Julián|
|Production||Gold: 208,000 oz|
Silver: 2,200,000 oz
|Company||AngloGold Ashanti 92.5% |
|Website||AngloGold Ashanti website |
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.
In 2008, the mine contributed 3% to the company's annual production and employs in excess of 1,000 people. The Cerro Vanguardia mine consists of a number of small open pits.
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.
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.
The mine suffered a difficult year in 2008, when production fell by 25% while the cash cost more than doubled. 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.
Future mining plans at Cerro Vanguardia include an underground operation, from 2010, and a heap leach operation.
Recent production figures of the mine were:
|Year||Production (oz)||Grade||Cost per ounce|
|2003 ||226,000||7.15 g/t||US$ 143|
|2004 ||229,000||7.60 g/t||US$ 156|
|2005 ||228,000||7.70 g/t||US$ 171|
|2006 ||232,000||7.29 g/t||US$ 225|
|2007 ||220,000||6.8 g/t||US$ 261|
|2008 ||166,000||5.44 g/t||US$ 608|
|2009 ||208,000||6.51 g/t||US$ 355|
- AngloGold Ashanti: Country report Argentina accessed: 14 July 2010
- Echavarría, Leandro E.; Shalamuk, Isidoro B.; Etcheverry, Ricardo O. (2005). "Geologic and tectonic setting of Deseado Massif epithermal deposits, Argentina, based on El Dorado-Monserrat". Journal of South American Earth Sciences. 19 (4): 415–432.
- 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
- Annual Report 2009 Archived 2011-09-12 at the Wayback Machine AngloGold Ashanti website, accessed: 9 May 2010
- Annual Report 2005 Archived 2011-07-19 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
- Annual Report 2006 Archived 2011-07-07 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
- Formicruz website (in Spanish)
- AngloGold Ashanti website
- AngloGold Ashanti: Country report Argentina