The Cerro Vanguardia Mine is a
gold
Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...
and
silver
Silver is a chemical element; it has Symbol (chemistry), symbol Ag () and atomic number 47. A soft, whitish-gray, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. ...
mine located 150 km north west of
Puerto San Julián
Puerto San Julián, also known historically as Port St. Julian, is a natural harbour in Patagonia in the Santa Cruz Province of Argentina located at . In the days of sailing ships it formed a stopping point, south of Puerto Deseado (''Port Des ...
, in the
Santa Cruz province of Argentina.
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.
AngloGold
AngloGold Ashanti Limited is a South Africa, South African gold mining company, with global operations. With a diverse portfolio of cooperation, projects, and exploration activities, AngloGold Ashanti was formed in 2004 by the merger of AngloG ...
, 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.
[AngloGold annual Report 2003]
AngloGold Ashanti website, accessed: 14 July 2010
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.
Plans at Cerro Vanguardia included an underground operation, from 2010, and a heap leach operation.
it was majority-owned and operated by
AngloGold Ashanti
AngloGold Ashanti Limited is a South African gold mining company, with global operations. With a diverse portfolio of cooperation, projects, and exploration activities, AngloGold Ashanti was formed in 2004 by the merger of AngloGold and the ...
, which held a 92.5% interest in the mine.
The remaining 7.5% was owned by ''Formicruz'' (''Fomento Minero de Santa Cruz Sociedad del Estado''), a company owned by the province of Santa Cruz.[AngloGold Ashanti: Country report Argentina]
accessed: 14 July 2010
In 2008, the mine contributed 3% to the company's annual production and employed in excess of 1,000 people. The Cerro Vanguardia mine consists of a number of small open pits.
Geology
geology, Geologically the mine lies in Deseado Massif, an area known for its valuable gold deposits.
Gold production
Recent production figures of the mine were:
References
External links
*
AngloGold Ashanti website
(archived 2010)
Argentina: Country Report 2008
(Anglogold Ashanti]
{{AngloGold Ashanti
AngloGold Ashanti
Gold mines in Argentina
Mines in Santa Cruz Province, Argentina
Open-pit mines
Silver mines in Argentina
Surface mines in Argentina