| Cerro Vanguardia Mine | |
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| Location | |
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Cerro Vanguardia Mine
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| Location | Puerto San Julián |
| Province | Santa Cruz |
| Country | Argentina |
| Owner | |
| Company | AngloGold Ashanti 92.5% Formicruz 7.5% |
| Website | AngloGold Ashanti website Formicruz website |
| JSE | ANG |
| Production | |
| Products | Gold Silver |
| Production | Gold: 208,000 oz Silver: 2,200,000 oz |
| Financial year | 2009 |
| History | |
| Opened | 1998 |
The Cerro Vanguardia Mine is a gold and silver mine located 150 km north west of Puerto San Julián, in the Santa Cruz province of Argentina. It is majority-owned and operated by AngloGold Ashanti, which holds a 92.5% interest in the mine. The remaining 7.5% are owned by Formicruz (Fomento Minero de Santa Cruz Sociedad del Estado), a company owned by the province of Santa Cruz.[1]
In 2008, the mine contributed 3% to the company's annual production and employes in excess of 1,000 people. The Cerro Vanguardia mine consists of a number of small open pits.[1]
Contents |
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.[2]
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.[3]
The mine suffered a difficult year in 2008, when production fell by 25% while the cash cost more than doubled.[1] 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.[4]
Future mining plans at Cerro Vanguardia include an underground operation, from 2010, and a heap leach operation.[4]
Recent production figures of the mine were:
| Year | Production (oz) | Grade | Cost per ounce |
| 2003 [5] | 226,000 | 7.15 g/t | US$ 143 |
| 2004 [5] | 229,000 | 7.60 g/t | US$ 156 |
| 2005 [5] | 228,000 | 7.70 g/t | US$ 171 |
| 2006 [6] | 232,000 | 7.29 g/t | US$ 225 |
| 2007 [4] | 220,000 | 6.8 g/t | US$ 261 |
| 2008 [4] | 166,000 | 5.44 g/t | US$ 608 |
| 2009 [4] | 208,000 | 6.51 g/t | US$ 355 |
| 2010 |
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