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(Kitco News) - Kitco ranked the top 10 largest gold mines in South America in 2022 by production.
1. Paracatu, Brazil. 577 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. Fruta del Norte, Ecuador. 476 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.
3. Merian, Suriname. 403 koz. The Merian gold mine is located approximately 60 km south of Moengo, Suriname. Newmont Suriname, LLC (previously known as Suriname Gold Company, LLC), a fully- owned subsidiary of Newmont Goldcorp Corporation, operates the Merian mine on behalf of Suriname Gold Project CV, a Suriname limited partnership. Newmont Suriname, LLC is the managing partner, owning a 75% interest in the limited partnership, and Staatsolie Maatschappij Suriname N.V., Suriname’s State-owned oil company, the limited partner, owns the remaining 25% interest. Construction of Merian mine commenced in August 2014, and commercial production was achieved on October 1, 2016, on schedule and US$150 million under budget.
4. Veladero, Argentina. 389 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.
5. Cuiaba, Brazil. 311 koz. AngloGold Ashanti’s Cuiabá complex in Brazil includes the Cuiabá and Lamego underground mines and the Cuiabá and Queiroz plants. 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. The complex also includes Córrego do Sítio operation, which consists of one open pit mine and one underground mine.
6. Cerro Negro, Argentina. 278 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.
7. Rosebel, Suriname. 252 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. Yanacocha, Peru. 244 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 100% owned by Newmont.
9. Salobo, Brazil. 215 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. 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.
10. Segovia, Colombia. 210 koz. The Segovia operations are located 180 kilometres northeast of Medellín in the Segovia-Remedios mining district of Antioquia, Colombia. Segovia is a multi-million-ounce high-grade gold operation that has been producing gold for more than 150 years.
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