Mining News

“Now they come for the uranium. Chubut and Santa Cruz, targets selected for their rich deposits”, published by “Agencia OPI” (City of Río Gallegos) on 03/31/2011
Pacific Bay Minerals and Wealth Minerals are searching for uranium in the central plateau of the Province of Chubut. The program involves the drilling of 30 pits, which will represent about 2,000 meters drilled. To date nine significant zones of mineralization have been discovered in a open space of uranium which measures 12 by 4 kilometers, and less than 12% of the properties of the company have been explored so far.

“Mining expansion”, published in “La Nación” (Ciudad de Buenos Aires) el 04/01/2011
The South African mining company Gold Fields announced its intention to invest in Argentina. The company’s vicepresident, Juan Luis Kruger, ratified its projects in Peru and in Chile he announced their plans to grow in other markets of the region, such as Colombia and Argentina. Gold Fields has its operating base in Johannesburg, South Africa, and holds the fourth place among producers worldwide.

“Prospects on copper”, published in “La Nación” (City of Buenos Aires) on 04/06/2011
The Anglo-Swiss mining company Xstrata Copper declared that Argentina is going to be a key piece in the expansion of the copper production over the next years. The company, which exploits the El Pachon mine in the province of San Juan, expects to double its copper production, which currently reaches 900,000 tons, due to the production of its deposits in Argentina, Chile and Peru.

“Goldcorp outlines a larger plan for Argentine gold project” published by “Reuters Argentina” (City of Buenos Aires) on 04/06/2011
The Canadian mining company Goldcorp reported that a revision of a feasibility study on its Cerro Negro Project in Argentina indicates that the company would double its gold production capacity from the levels previously estimated.  The previous feasibility study at Cerro Negro had projected an annual gold production of between 200,000 and 250,000 ounces. The company says now that the mine, which is expected to initiate operations by mid 2013, will produce an average 550,000 ounces per year, in its first five years. Cerro Negro has proven and probable gold reservoirs of 4.26 million ounces, plus 36.16 million ounces of silver.

“Mining investment of over US$ 850 million”, published in “La Nación” (City of Buenos Aires) on 04/15/2011
The executive director of Golcorp mining company, Eduardo Villacorta, announced to the Minister of Planification, Julio De Vido, that this company will invest US$ 850 million in project Cerro Negro, in the city of Perito Moreno, in the north of the province of Santa Cruz.

“Largest silver producer wants to invest in Argentina”, published in “Inversor Energético & Minero – Daily Newsletter” (City of Buenos Aires) on 04/15/2011
Jaime Lomelin, general director of Grupo BAL, together with executives of the holding, announced the group’s interest to make investments in the mining reservoir exploration areas and in the development of productive metal projects in Argentina. A visit to our country by the Mexican group was agreed, in order to coordinate a series of meetings and visits to mining production zones, with the objective of defining investing alternatives.

“Salta: Mansfield Minerals to invest US$ 220 million in project Lindero” published in “Inversor Energético & Minero – Daily Newsletter” (City of Buenos Aires) on 04/18/2011
The Lindero gold project is developed at over 4,000 meters above sea level in the province of Salta and about 260 kilometers away from the city by the same name. The project foresees a 220 million dollar disbursement. It consists in the exploitation of an open gold deposit. It is expected that Lindero Hill produce 0.83 million ounces of gold, with an annual average of 161,000 ounces. The average cost of production will be of US$ 373 per ounce over the first five years of production.

“Lithium Americas to construct a lithium plant in Argentina for US$ 398 million” published in “Inversor Energético Minero – Daily Newsletter” (City of Buenos Aires) on 04/19/2011
The Canadian mining company Lithium Americas Corp plans to build a lithium carbonate facility at its Cauchari project, in Argentina, in two phases for a total cost of US$ 398 million. The plant is expected to operate with a full capacity of 40,000 tons per year.

“Canadian mining company discovers gold in Santa Cruz”, published in “El Cronista” (City of Buenos Aires) on 04/20/2011
The Canadian mining company Extorre Gold Mines announced that it found high grade gold and silver in its main mine at Cerro Moro, in the province of Santa Cruz, and expects mineralization to continue when deeper drillings are performed. The investment announced for the project is of US$ 131 million and it will begin operating in 2012.

“San Juan: the construction of a US$ 2,900 million copper project advances” published in “Inversor Energético Minero – Daily Newsletter” (City of Buenos Aires) on 04/29/2011
At Los Azules project, in the county of Calingasta, the drilling of pits during the 2009-2010 field season shows that hypogenous mineralization is present at depths of at least 650 meters under the surface. The mineral resource estimate published in 2010 indicated a deposit with over 127 million tons of high grade copper mineralization, with a 0.86% grade and 67 million tons with a 0.95% grade. The resource also contains 2.3 million ounces of gold and 57 million ounces of silver.