- Yamana Gold (YRI) has finished integrating its Agua Rica Project in Argentina with the nearby Minera Alumbrera Plant
- The integration will incorporate the existing infrastructure from the Alumbrera mine, which can then be used to help develop the projects in tandem going forward
- Moving forward, Yamana and mining giants Glencore and Newmont will collectively pursue the project in a joint venture, which will be split 56.25 per cent, 25 per cent and 18.75 per cent, respectively
- With the integration complete, the two sites will now become the MARA project.
- Yamana Gold is down 0.33 per cent and is trading at $7.46 per share
Yamana Gold (YRI) has finished integrating its Agua Rica Project in Argentina with the nearby Minera Alumbrera Plant.
The integration will incorporate the existing infrastructure from the Alumbrera mine, which can then be used to help develop the projects in tandem going forward.
The previous infrastructure used for the Alumbrera mine included processing facilities, a fully permitted tailings storage facility, pipeline, logistical installations, ancillary buildings.
With an open pit operation in development at Agua Rica Project, the company is hoping to transfer the prospective ore 36 kilometres via an overland conveyor to the newly integrated mining infrastructure.
Yamana is anticipating only “modest modifications” will be needed to transition the facilities into a copper and by-product operation.
Alumbrera was jointly held by mining giants Glencore and Newmont. Moving forward, however, Yamana, Glencore and Newmont will collectively pursue the project in a joint venture, which will be split 56.25 per cent, 25 per cent and 18.75 per cent, respectively.
With the integration complete, the two projects will now become the MARA project.
Peter Marrone, Executive Chairman of Yamana, said the integration effectively turns what was a greenfield project into a much lower risk brownfield project.
“Leveraging existing infrastructure enhances project economics, simplifies permitting, and reduces the project’s environmental footprint, thereby significantly enhancing the value of the project,” he added.
Peter went on to say he was very pleased to have worked with Glencore and Newmont, on the integration, and was looking forward to working with them on the development of the project.
Yamana Gold is down 0.33 per cent and is trading at $7.46 per share at t 12:04pm EST.