Cerro Vanguardia Mine
| Location | |
|---|---|
  Cerro Vanguardia Mine Location in Argentina | |
| Location | Puerto San Julián |
| Province | Santa Cruz |
| Country | Argentina |
| Coordinates | 48°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 |
| Production | |
| Products |
Gold Silver |
| Production |
Gold: 208,000 oz Silver: 2,200,000 oz |
| Financial year | 2009 |
| History | |
| Opened | 1998 |
| Owner | |
| Company |
AngloGold Ashanti 92.5% Formicruz 7.5% |
| Website |
AngloGold Ashanti website Formicruz 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.[1]
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.[1]
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
- 1 2 3 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
- 1 2 3 4 5 Annual Report 2009 AngloGold Ashanti website, accessed: 9 May 2010
- 1 2 3 Annual Report 2005 AngloGold Ashanti website, accessed: 11 July 2010
- ↑ Annual Report 2006 AngloGold Ashanti website, accessed: 11 July 2010