Overview
| Stage | Construction |
| Mine Type | Open Pit |
| Commodities |
|
| Mining Method |
|
| Production Start | ...  |
| Mine Life | 10 years (as of Jan 1, 2022) |
Construction and pre-commissioning activities at Salares Norte continued in line with the revised plan.
The Salares Norte Chinchilla Relocation Plan was approved by the authority in June 2023. Preparations are being made implement the plan, which has a term of 36 months. The relocation delay has not delayed construction of the project, which is on track for commissioning in Q4 2023. |
Source:
p. 429
The Salares Norte project is 100% owned by Gold Fields through its shareholding in Minera Gold Fields Salares Norte SpA (MGFSN).
Contractors
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Summary:
The Salares Norte project is located in the northern part of the Maricunga Belt; an area with a predominance of Cenozoic volcanic rocks, comprising eroded strato-volcanos, volcanic domes and pyroclastic rocks. Mineralisation is contained in a high-sulphidation epithermal system, hosted mainly by a breccia complex along the contact of two volcanic domes of andesitic and dacitic composition.
Mineral Resources and Mineral Reserves have been delineated by drilling in two separate deposits, Brecha Principal and Agua Amarga, which are located ~500m apart. Most of the mineralisation known to date is oxidised. The sulphide mineralisation contains mainly pyrite, is generally lower grade and lower volume, and has lower processing recovery than the oxide material.
Summary:
The Brecha Principal and Agua Amarga deposits will be mined by a contractor using open-pit mining methods. Mining will occur in six phases over nine years, including two years of pre-stripping, starting in Brecha Principal and finishing in Agua Amarga. Ultimately, the two pits will merge into a single pit due to the backslope. Waste will be placed in either the south or north WSF. All ore will be hauled to either the RoM pad or one of the grade-bin stockpiles, south of the pits.
Source:
Source:
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Flow Sheet:
Summary:
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Projected Production:
| Commodity | Units | Avg. Annual | LOM |
|
Gold
|
M oz
| | 3.2* |
|
Silver
|
M oz
| | ...... * |
|
Gold Equivalent
|
koz
| ...... | ...... |
All production numbers are expressed as metal in doré.
Operational Metrics:
| Metrics | |
|
Plant annual capacity
| 2 Mt * |
|
Stripping / waste ratio
| 13.9 * |
|
Waste tonnes, LOM
| 308.8 Mt * |
|
Ore tonnes mined, LOM
| 22.2 Mt * |
|
Total tonnes mined, LOM
| 331 Mt * |
* According to 2018 study.
Reserves at December 31, 2022:
Mineral Reserves NSR for mill feed US$72.93.
Mineral Resources NSR for mill feed US$69.97 – 74.31.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Probable
|
18,381 kt
|
Gold
|
5.8 g/t
|
3,454 koz
|
|
Probable
|
18,381 kt
|
Silver
|
71.3 g/t
|
42,164 koz
|
|
Indicated
|
2,830 kt
|
Gold
|
2.1 g/t
|
192 koz
|
|
Indicated
|
2,830 kt
|
Silver
|
27.2 g/t
|
2,472 koz
|
|
Inferred
|
946 kt
|
Gold
|
1.9 g/t
|
58 koz
|
|
Inferred
|
946 kt
|
Silver
|
17.5 g/t
|
531 koz
|
Commodity Production Costs:
| | Commodity | Units | Average |
|
All-in sustaining costs (sold)
|
Gold Equivalent
|
USD
|
545 / oz *
|
|
All-in costs
|
Gold Equivalent
|
USD
|
785 / oz *
|
|
Assumed price
|
Silver
|
USD
|
17.5 / oz *
|
|
Assumed price
|
Gold
|
USD
|
1,300 / oz *
|
* According to 2018 study / presentation. http://www.minesandprojects.com/reports/annual/Gold_Filed_F20_2018.pdf P.65
2018 Study Costs and Valuation Metrics :
| Metrics | Units | LOM Total |
|
Initial CapEx
|
$M USD
|
......
|
|
Pre-tax NPV @ 7.5%
|
$M USD
|
......
|
|
Pre-tax IRR, %
|
|
......
|
|
Pre-tax payback period, years
|
|
......
|
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