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.
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.Cerro Vanguardia Gold and Silver Mine, Argentina mining-technology.com, accessed: 14 July 2010
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.AngloGold annual Report 2003 AngloGold Ashanti website, accessed: 14 July 2010
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.
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.AngloGold Ashanti: Country report Argentina accessed: 14 July 2010
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 Annual Report 2005 AngloGold Ashanti website, accessed: 11 July 2010 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 Annual Report 2006 AngloGold Ashanti website, accessed: 11 July 2010 232,000 7.29 g/t US$ 225 2007 Annual Report 2009 AngloGold Ashanti website, accessed: 9 May 2010 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
External links
AngloGold Ashanti website (archived 2010) Argentina: Country Report 2008 (Anglogold Ashanti]