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Top 10 largest gold mines in South America in Q1 2021 - report

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(Kitco News) - Kitco looked at gold production in South America in Q1 2021 and ranked the top ten local gold operations by production based on data publicly released by their owners / operators.

In Q1 2021, South America’s gold mining industry produced 1,580 koz of gold, which is 16% less than 1,880 koz produced a year before. Brazil (500 koz) was the largest gold producing country on the continent, followed by Peru, Argentina and Chile.

Kinross’ Paracatu mine in Brazil was the largest gold mine in South America. The company reported that Paracatu performed well in Q1 2021, with production of 126.6 koz increasing by 2% year-over-year as the site delivered record quarterly throughput.

Newmont’s Merian mine in Suriname sits second with 114 koz of gold produced in Q1 2021. Gold production at Merian decreased 14% over Q1 2020 primarily due to lower ore grade milled, partially offset by higher mill throughput and a higher draw-down of in-circuit ounces.

Lundin Gold’s Fruta Del Norte mine in Ecuador is third. First quarter of 2021 was a quarter marking the first anniversary of the achievement of commercial production at Fruta del Norte. The company said it is on track to meet its 2021 guidance of 380,000 to 420,000 oz of gold produced.

At AngloGold Ashanti’s Cuiaba mine in Brazil, the fourth largest gold operation in South America, production for the first quarter of 2021 was 78 koz compared to 77 koz in the same period last year. Production was impacted by low grades, despite the increase in tonnes of ore mined.

Gold production of 64 koz at Barrick’s Veladero mine in Argentina in the first quarter of 2021 was 57% lower than a year before, mainly due to a decrease in fresh ore stacked. The company said that the Phase 6 leach pad expansion remains on track for commissioning by the end of first half of 2021.

The complete list of the top ten largest gold mines in South America in Q1 2021 is on the chart.

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.