Yamana puts Agua Rica into its Argentina JV with Goldcorp and Glencore
TSX- and NYSE-listed Yamana Gold has announced that the Agua Rica project, in Argentina, will be developed and operated using the existing infrastructure and facilities of a joint venture (JV) that it has with Glencore and Goldcorp in that country.
The integration of the Agua Rica copper project with the Alumbrera mine that the three companies jointly own, will enhance project economics, while reducing project complexity and its environmental footprint.
The companies said on Thursday that preliminary studies showed the potential for a mine life of 25 years at average production of about 236 000 t/y of copper-equivalent metal, including the contributions of gold, molybdenum and silver for the first ten years of operation. This is based on the Agua Rica mineral reserve being estimated to contain proven and probable mineral reserves of about 4.5-million tonnes of copper and 6.5-million ounces of gold contained in about 910-million tonnes of ore.
A prefeasibility study for the integrated project will be completed in 2019 and a full feasibility study with updated mineral reserves, and production and project cost estimates will be completed by 2020.
This will provide the framework for the submission of a new environmental impact assessment (EIA) to the authorities of the Catamarca province and for the continued engagement with local stakeholders and communities.
In respect of the contribution of the parties, Yamana will contribute its current 100% interest in the Agua Rica project and its 12.5% interest in Alumbrera, while Glencore and Goldcorp will contribute their respective 50% and 37.5% interests in Alumbrera.
Full integration is expected to occur with the filing of the full feasibility study and EIA. Upon completion, Yamana will own 56.25%, Glencore 25% and Goldcorp 18.75% of the integrated project.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation