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Largest gold mines in South America in 2020 - report

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(Kitco News) - Kitco ranked the top 10 largest gold producing operations in South America based on gold output reported in 2020.

1. Paracatu, Brazil. 542 koz.
Kinross’ Paracatu gold mine is located in Brazil, north of Paracatu city and nearly 230km from the capital city of Brazil, Brasília. Paracatu is the largest gold mine in South America and one of the largest in the world.

2. Merian, Suriname. 461 koz.
The Merian gold mine is located approximately 60 km south of Moengo, Suriname. Newmont Suriname (previously known as Suriname Gold Company) is a fully-owned subsidiary of Newmont that is operated on behalf of Suriname Gold Project CV, a Suriname limited partnership. Construction of Merian commenced in August 2014, and commercial production was achieved on October 1, 2016, on schedule and US$150 million under budget.

3. Veladero, Argentina. 452 koz.
The Veladero mine is located in San Juan Province, Argentina, in the highly prospective Frontera District. The property is located at elevations of 4,000 to 4,850 meters above sea level, approximately 374 kilometers northwest of the city of San Juan. Veladero is a 50/50 joint venture operation with Shandong Gold. In 2007, Barrick Gold installed the world’s highest-altitude wind turbine at the Veladero mine at nearly 4,200m elevation.

4. Cuiaba, Brazil. 362 koz.
AngloGold Ashanti’s Cuiabá complex in Brazil includes the Cuiabá and Lamego mines and the Cuiabá and Queiroz plant complexes. Cuiabá has been in operation for over 30 years while Lamego, an underground mine, has been in operation for seven years. The Cuiabá complex has changed from cut-and-fill to sub-level stoping, increasing the contribution from narrow vein ore bodies from 15% to 40% of the mine’s total production and improving rock engineering controls (support, design and monitoring). Ore from the Cuiabá and Lamego mines is processed at the Cuiabá gold plant. The concentrate produced is transported 15km by aerial ropeway to the Queiroz plant for processing and refining.

5. Yanacocha, Peru. 340 koz.
Yanacocha gold mine is located in the province and department of Cajamarca, approximately 800 kilometers northeast of Lima, Peru. Yanacocha’s operations are situated between 3,500 and 4,100 meters above sea level with development activities in four primary basins. The operation is a joint venture between Newmont (51.35%), Minas Buenaventura (43.65%) and the International Finance Corporation (5%). The mine poured its first gold ore bar on August 7, 1993.

6. Salobo, Brazil. 331 koz.
Vale’s Salobo mine is the largest copper deposit ever discovered in Brazil and important source of gold, too. The low-cost copper-gold mine began operating in May 2012 with a design throughput capacity of 12 million tonnes per annum. Vale has subsequently completed a second phase of construction to expand the mine to 24 Mtpa of mill capacity. Salobo is an integrated operation of open pit mining, mineral processing beneficiation, concentrate loading and transportation. The copper concentrate is transported by road from the mine to Vale’s existing rail terminal in Parauapebas, from where it is carried by the Carajás railroad to the Ponta da Madeira maritime terminal located in Sao Luis.

7. Rosebel, Suriname. 245 koz.
The Rosebel gold mine is located in the mineral rich Brokopondo district in north eastern Suriname, South America. Suriname is a former Dutch colony situated in northern South America bordering the Atlantic Ocean between French Guiana and Guyana. The Rosebel gold mine began commercial production in 2004.

8. Fruta del Norte, Ecuador. 242 koz.
The Fruta del Norte gold deposit was discovered in 2006. Lundin Gold purchased the asset in late 2014 for US$240 million. Since acquiring the asset, Lundin Gold completed a feasibility study, signed all major agreements with the Ecuadorian Government providing for the fiscal and regulatory regime and economic stability, and subsequently financed and constructed the mine and infrastructure on time and on schedule in five short years. First gold production was reached in November 2019 and commercial production was achieved in February 2020.

9. Segovia, Colombia. 220 koz.
Gran Colombia produces gold from the Segovia Operations, an area of approximately 9,000 hectares in the Segovia-Remedios mining district of Antioquia, Colombia. These high-grade mines have been in continuous operation for over 150 years and over that time have produced more than an estimated 5 million ounces of gold. Mining operations incorporate both company-operated areas and an artisanal miner model that contracts local third party miners to work in Gran Colombia’s concessions and to deliver the ore to Gran Colombia’s mill for processing.

10. Cerro Negro, Argentina. 216 koz.
Cerro Negro sits 600 metres above sea level on the low Patagonian plains in southern Argentina in the province of Santa Cruz. Newmont Cerro Negro has three high-grade underground operating mines, Eureka, Mariana Central and Mariana Norte, and two underground deposits being developed, Emilia and San Marcos, as well as five other deposits in late-stage evaluation for development to expand the existing operations in the Marianas Complex and establish operations in the Eastern District.

Top 10 largest gold mines in South America in 2020 - Kitco

Mine

Country

Major owner / operator

2020 Au output, koz

1

Paracatu

Brazil

Kinross

542

2

Merian

Suriname

Newmont

461

3

Veladero

Argentina

Barrick / Shandong

452

4

Cuiaba

Brazil

AngloGold Ashanti

362

5

Yanacocha

Peru

Newmont

340

6

Salobo

Brazil

Vale

331

7

Rosebel

Suriname

IAMGOLD

245

8

Fruta Del Norte

Ecuador

Lundin Gold

242

9

Segovia Operations

Colombia

Gran Colombia

220

10

Cerro Negro

Argentina

Newmont

216

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.