Cerro Vanguardia Mine
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, 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.
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.
As of 2004 it was majority-owned and operated by AngloGold Ashanti, 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.
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
Geologically the mine lies in Deseado Massif, an area known for its valuable gold deposits.
Gold production
Recent production figures of the mine were:
| Year | Production (oz) | Grade | Cost per ounce |
| 2003 | 226,000 | 7.15 g/t | US$ 143 |
| 2004 | 229,000 | 7.60 g/t | US$ 156 |
| 2005 | 228,000 | 7.70 g/t | US$ 171 |
| 2006 | 232,000 | 7.29 g/t | US$ 225 |
| 2007 | 220,000 | 6.8 g/t | US$ 261 |
| 2008 | 166,000 | 5.44 g/t | US$ 608 |
| 2009 | 208,000 | 6.51 g/t | US$ 355 |
| 2010 |
References
- ^ Cerro Vanguardia Gold and Silver Mine, Argentina mining-technology.com, accessed: 14 July 2010
- ^ AngloGold annual Report 2003 Archived 2012-03-03 at the Wayback Machine AngloGold Ashanti website, accessed: 14 July 2010
- ^ AngloGold Ashanti: Country report Argentina Archived 2012-03-03 at the Wayback Machine accessed: 14 July 2010
- ^ Annual Report 2009 Archived 2011-09-12 at the Wayback Machine AngloGold Ashanti website, accessed: 9 May 2010
- ^ [1].
- ^ Echavarría, Leandro E.; Shalamuk, Isidoro B.; Etcheverry, Ricardo O. (2005). "Geologic and tectonic setting of Deseado Massif epithermal deposits, Argentina, based on El Dorado-Monserrat". Journal of South American Earth Sciences. 19 (4): 415–432. Bibcode:2005JSAES..19..415E. doi:10.1016/j.jsames.2005.06.005.
- ^ Annual Report 2005 Archived 2011-07-19 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
- ^ Annual Report 2006 Archived 2011-07-07 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
External links
- Formicruz (in Spanish)
- AngloGold Ashanti website (archived 2010)
- Argentina: Country Report 2008 (Anglogold Ashanti]