IF YOU CAN'T SEE THIS MAIL CLICK HERE

minerales

Panorama Minero


 

 

 

 

 

 

 

•• Monthly Mining Bulletin Nº33
December - 2015 - PANORAMA MINERO
Recommend the newsletter to someone else

 

Mining in Argentina – What happened in November

After Mauricio Macri won the presidential election in Argentina on 22th November, there are new hopes for the local mining industry. Free market policies will be a profile of Macri's Administration, and this will encourage foreign capitals to invest in Argentina. Mining will be one of the pillars of the future economy recovery with hydrocarbons, nuclear energy and agriculture. It is important to say that Argentina has over 70% of its prospective underground without analysis.

The elected President chose Ing. Juan Manuel Aranguren as new Minister of Energy and Mining: in his team, Dr. Daniel Meilán will be the new Secretary of Mining. During 1994 and 1999, Meilán served as Secretary of Mining: his tenure allowed multibillion investments, including Bajo la Alumbrera construction and startup. Meilán worked in the legal and technical aspects that ended in the Argentine mining development, including the build of the PASMA (Assistance Treaty for the Development of the Argentine Mining Sector), bringing technology and human skills to the mining areas of all Argentine provinces.

Cerro Vanguardia (AngloGold Ashanti): More production and benefits
Cerro Vanguardia, the mining center of South African AngloGold Ashanti located in Santa Cruz province, produced 71,000 oz. at a total cash cost of $630/oz. compared to 62,000 oz at a total cash cost of $656/oz. in the same quarter last year. Production was 15% higher mainly due to higher grades as well as operational efficiencies.

Important support of mining exports from Patagonia
The National Government decided to restore, for a term of five years, the term of additional exports to all ports and customs located south of the Rio Colorado River, contributing with a tool that will leverage the export of mineral products.

MAS

Patagonia Gold reports update on Lomada de Leiva production – More drilling activities
Patagonia Gold Plc provided an update on the current production at the Company's Lomada de Leiva mine, summarizing annual production revised to 21,542/oz. of gold; cash cost per ounce significantly increased during Q2 and Q3; Q4 of 2015 and Q1 of 2016 forecast significant cost savings and normalizing of gold production levels; and exploration efforts near mine continue with a view to identifying additional resources to extend the mine life

MAS

hunt

Significant Increase in Resource at Filo Del Sol Project
NGEx Resources Inc. announced an updated mineral resource estimate for the Filo del Sol silver- copper-gold deposit. Filo del Sol is located in San Juan, Province, adjacent to the border with Chile and is 100% controlled by NGEx.

MAS

Are you looking for a Rep in Argentina? Please contact:
informes@panorama-minero.com

 

Cerro Vanguardia (AngloGold Ashanti): More production and benefits

 
 

Cerro Vanguardia, the mining center of South African AngloGold Ashanti located in Santa Cruz province, produced 71,000 oz. at a total cash cost of $630/oz. compared to 62,000 oz at a total cash cost of $656/oz. in the same quarter last year. Production was 15% higher mainly due to higher grades as well as operational efficiencies. Total cash costs were 4% lower than the same quarter last year mainly due to higher by-product production and favorable exchange rates. These positive effects were partially offset by inflationary effects including salary increments and lower deferred stripping adjustments.

In line with the group’s cost discipline, various initiatives continued during the quarter, focusing on efficiencies and production improvements, particularly in underground mine expansion, increased mill throughput, silver recovery, and capital expenditure. Additionally, production improvements are being analyzed, with an aim to improve future production profile.

Also, drilling activities continued in the quarter at Cerro Vanguardia with 16,940m completed. Field work with trenching and channel sampling to advance targets to drill stage continued.

 

 

Important support of mining exports from Patagonia

 
 

The National Government decided to restore, for a term of five years, the term of additional exports to all ports and customs located south of the Rio Colorado River, contributing with a tool that will leverage the export of mineral products.

Necessity and Urgency Decree No. 2229 stipulates that the benefit levels are the same applied since January 1984, reaching the ports from San Antonio Oeste to Ushuaia, including Comodoro Rivadavia, San Julian, Punta Quilla, Rio Gallegos and Caleta Paula.

Thus the Patagonian provinces have, from the effective date of this instrument, an incentive to develop its enormous potential for production and processing of mineral products.

It will also contribute to an improvement in trade competitiveness, impacting positively on increasing export volumes as well as in promoting the observance and implementation of new investment and creating new and better jobs.

Moreover, together with Resolution 1132 recently enforced by the Ministry of Transport of the Nation, aimed at developing and using transport type "bitrenes" will favor strengthening the competitiveness of productive mining sectors of Patagonia, bringing improvements costs of logistics and transport as a valid tool to boost productivity in the mining sector.

Notably, the bitrenes can carry 75% more cargo with 19% less weight per axle, increasing 56% care routes, thus reducing transportation costs by 50%.

 

 

Patagonia Gold reports update on Lomada de Leiva production – More drilling activities

 
 

Patagonia Gold Plc provided an update on the current production at the Company's Lomada de Leiva mine, summarizing annual production revised to 21,542/oz. of gold; cash cost per ounce significantly increased during Q2 and Q3; Q4 of 2015 and Q1 of 2016 forecast significant cost savings and normalizing of gold production levels; and exploration efforts near mine continue with a view to identifying additional resources to extend the mine life

The Lomada Mine is located approximately 40 kilometers south-east of the town of Perito Moreno in the Province of Santa Cruz, and is within the Group's La Paloma property block, covering over 44 square kilometers.

Production for the Lomada Mine up to the end of October 2015 has totaled 16,526 ounces with the total forecast production for 2016 now estimated at 21,542 ounces compared with the plan for the year of 31,000 ounces. Cash costs per ounce have increased mainly due to lower than expected production and lower than expected exchange rate. Year to date costs as of the end of October 2015 reported at $1,291/oz. The forecast cash cost for 2015 is approximately US$1,180.

In addition to lower than forecast production for the year, the cash costs were impacted by a higher than anticipated inflation and a lower than forecast actual exchange rate.

The outlook for December 2015 and Q1 2016 is positive and the Company expects the Lomada Mine to achieve forecast production of 5000 ounces in December and 9000 ounces for Q1 2016.  Stripping ratios in the main pit have decreased to approximately 2.5:1 and machine availability is improving along with additional hire equipment being mobilized. A pit extension is due to commence in April 2016 in order to extend mine life as exploration efforts continue near mine and on the Lomada block with the objective of replenishing existing resources.

 

Significant Increase in Resource at Filo Del Sol Project

 
 

NGEx Resources Inc. announced an updated mineral resource estimate for the Filo del Sol silver- copper-gold deposit. Filo del Sol is located in San Juan, Province, adjacent to the border with Chile and is 100% controlled by NGEx.

Above a 0.3% CuEq cutoff, contained copper has increased by 42%, contained gold has increased by 39% and contained silver has increased by 71%. The total Inferred Resource for the Filo del Sol deposit, at a 0.30% CuEq1 cutoff grade is: 381.0 million tons at a grade of 0.39% copper, 0.33 g/t gold and 12 g/t silver for a copper equivalent grade of 0.69% (3.3 billion pounds of copper, 4.0 million ounces of gold, and 149.8 million ounces of silver).

This new resource estimate updates and replaces the initial resource estimate released on December 2, 2014. It incorporates data in 24 additional step-out and in-fill holes from the 2014/2015 drill program and results in a significant increase in the size of the resource.

In addition to the drill program completed during the 2014 / 2015 field season, a detailed surface mapping and sampling program and 23 kilometers of induced polarization (IP) geophysical surveying were done. Following the field program, this new data was integrated with all historic exploration data and the geological interpretation, including controls on mineralization and exploration targeting, was updated and refined. This work led to a more complete understanding of the controls of the portion of the mineralized system which comprises the resource estimate. Combined with several step-out drill holes which intersected good mineralization in locations predicted by the previous resource model, this data increased confidence in the geological continuity and extent of the resource volume.

Filo del Sol is a very large mineralized system in which overlapping mineralizing events combined with weathering effects, including supergene enrichment, have created several different styles of mineralization which occur over the approximately 6 kilometer strike length of the system. The current resource remains completely open to expansion to the north, south and east; however it is interpreted to be bounded to the west by a steeply-dipping fault.

An historic metallurgical test program completed in 2001 by Novatec A.A. of Santiago, Chile provided encouraging results with excellent recovery of copper through leaching with dilute sulphuric acid solution, including several samples which leached with only potable water. It should be noted that, although the Company believes this test work provides accurate information regarding the potential leach recoveries of material from Filo del Sol; it has not yet completed any work to verify these results. The Company plans additional test work in 2016 to verify the earlier work, and assess whether the oxide and mixed material could be amenable to heap leaching.


 
  Panorama Minero
Buenos Aires - Argentina
Phone: (054-11) 4952-1117