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Canada's Goldcorp to inaugurate Argentine gold, silver mine in February

Canada's Goldcorp to inaugurate Argentine gold, silver mine in February

Posted by Juan Gavasa on November 20, 2014

Canada's Goldcorp will formally inaugurate its Cerro Negro gold and silver mine in Argentina in February, a project that required an investment outlay of 14.2 billion pesos ($1.7 billion) in the construction phase, officials said.

Argentine Mining Secretary Jorge Mayoral met Wednesday with Goldcorp's head of operations for Central and South America, Eduardo Villacorta, to analyze final construction work at Cerro Negro, located near the town of Perito Moreno in the southern province of Santa Cruz.

The mine will have an operational lifespan of 23 years and a production capacity of 4,000 tons per day of gold and silver concentrate, officials said.

Goldcorp says on its Web site that Cerro Negro "poured first gold" in July of this year and that 2014 production is expected to come in at between 130,000 and 180,000 gold ounces. Cerro Negro is the second investment foray into Argentina by the Vancouver-based miner, which also has a 37.5 percent stake in the Alumbrera copper project in that South American country's northwestern region.

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