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Sunset at Cerro Negro construction site. (Image courtesy of Goldcorp via Flickr)
Canada’s gold giant Goldcorp (TSX:G), (NYSE:GG) is fine-tuning details to begin commercial production at its Argentina-based Cerro Negro gold and silver mine in February.
The high-grade operation, which produced its first gold dore bar last July, is expected to churn out between 130,000 and 180,000 ounces of gold before the end of 2014.
Once fully operational, Goldcorp estimates that Cerro Negro will produce 4,000 tons/day of gold and silver concentrate during its 23 years of life.
According to El Economista (in Spanish), Goldcorp’s head of operations for Central and South America, Eduardo Villacorta, met Wednesday with Argentine authorities to check the status of final construction work at the mine, located in the southern province of Santa Cruz.
Cerro Negro is expected to significantly contribute to Goldcorp’s performance in the years ahead. Proven and probable gold mineral reserves for the mine were 5.74 million ounces as of Dec 31, 2013.
The Vancouver-based miner, which also has a 37.5% interest in the Alumbrera mine in Argentina’s Catamarca province, has mines and projects in Canada, Chile, the Dominican Republic, Guatemala, Mexico and the U.S.
3 Comments
Kirill Klip
We have great news for Argentina mining today. As we have discussed before, the situation is changing for the better now for mining and resource sector in the country. Goldcorp is delivering its new mine on-line with 1.7 Billion investment in Argentina. After Lumina Copper was taken out by First Quantum Los Azules Copper is primed for the M&A now.
http://kirillklip.blogspot.co.uk/2014/11/los-azules-copper-canadas-goldcorp-to.html#
Oredigr
Pretty sure they are milling 4000 tons per day of ore, not producing 4000 tons per day of concentrate. Apparently the author does not understand the difference.
Horatio
It’s just rock with some colored paint on it. Take that to the bank dude.