Overview
| Stage | Pre-Feasibility |
| Mine Type | Open Pit |
| Commodities |
- Copper
- Molybdenum
- Gold
- Silver
|
| Mining Method |
|
| Mine Life | 27 years (as of Jan 1, 2020) |
Agua Rica Project is integrated with Alumbrera Mine and Alumbrera plant and infrastructure (MARA Project).
In late 2019 and early 2020 the MARA Joint Venture Technical Committee advanced optimization studies, the result of which were compiled as pre-feasibility study (B).
The Pan American added MARA Project to its portfolio and plans to provide a operating outlook in the mid-second quarter of 2023. |
Source:
p. 1
On December 17, 2020, the Yamana Gold completed the integration with Glencore and Newmont and a new joint venture, the MARA Joint Venture pursuant to which Yamana held a controlling ownership interest in the MARA Project at 56.25%. Glencore held a 25.00% interest, and Newmont held an 18.75% interest.
On September 23, 2022, Glencore announced that it had reached an agreement to acquire Newmont’s 18.75% interest, resulting in Glencore owning a 43.75% interest in the MARA Project.
On March 31, 2023, Pan American Silver Corp. acquired common shares of Yamana Gold. The Arrangement adds the MARA development project in Argentina to Pan American's portfolio.
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Epithermal
- Porphyry
- Vein / narrow vein
Summary:
Agua Rica Project is integrated with Alumbrera Mine (MARA Project).
Agua Rica
The Agua Rica deposit is interpreted as a substantial gold-rich porphyry copper-molybdenite deposit, formed by multistage porphyry intrusions of Miocene age.
Mineralization
Three major stages of alteration and polymetallic mineralization have been recognised at Agua Rica: early porphyry copper-molybdenum- gold (Cu-Mo-Au) associated with the emplacement of porphyritic intrusions, later overprinted by epithermal copper-gold-silver-arsenic-lead-zinc (Cu-Au-Ag-As-Pb-Zn) related to complex multi-stage hydrothermal brecciation; and supergene copper (Cu) enrichment. These are described in the subsections below.
Porphyry Stage
In a first pulse of Miocene magmatism, the emplacement of the Melcho intrusions in the southern portion of the Project area was accompanied by minor potassic and propylitic alteration and weak pyrite ± chalcopyrite ± molybdenite mineralization.
The subsequent intrusion of the Seca and Trampeadero feldspar porphyries resulted in the development of intense quartz stockwork veining, potassic alteration, and chalcopyrite-molybdenite mineralization with rare bornite and pyrrhotite. Remnants of this potassic alteration can be observed in patches in those two porphyries. Chalcopyrite and bornite are especially important at Seca Norte, however, are difficult to observe macroscopically. Rare magnetite-chalcopyrite veins in which magnet ........
Summary:
On December 17, 2020, the Yamana Gold completed the integration of the Agua Rica Project with the Alumbrera Mine and Alumbrera plant and infrastructure (MARA Project).
The MARA Joint Venture Technical Committee was formalized, comprised of representatives of the two shareholder companies, to provide oversight and guidance to the advancement of the feasibility study. The MARA Joint Venture Technical Committee advanced optimization studies in late 2019 and early 2020, the results of which were compiled as pre-feasibility study (B) ("PFS(B)"), and is now advancing a full feasibility study on the MARA Project.
Agua Rica
The MARA Project consider the Agua Rica deposit will be mined via a conventional high tonnage truck and shovel open pit operation. Average life of mine material moved is expected to be approximately 108 million tonnes per year, with ore feed of 42 million tonnes per year and average life of mine strip ratio of 1.66. Mine waste will be deposited in the Choya valley, adjacent to the Agua Rica, at WRF.
Mine Phasing
The Agua Rica pit is designed in phases using nested pit optimization shells as a guide to target higher value ore in the early years and defer waste movement, with the objectives of maximizing NPV and minimizing the initial capital and payback period. A total of six phases are designed with a mining width of 80 m to 150 m between phases.
Stockpile Design
A stockpile for low grade ore is designe ........
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Flow Sheet:
Summary:
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Projected Production:
| Commodity | Units | Avg. Annual |
|
Copper Equivalent
|
M lbs
| 469 |
All production numbers are expressed as metal in concentrate.
Operational Metrics:
| Metrics | |
|
Stripping / waste ratio
| ...... |
|
Daily processing capacity
| ...... |
|
Annual mining rate
| ...... |
|
Annual ore mining rate
| ...... |
|
Processing scale, tpd
| ...... |
* According to 2020 study.
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Reserves at December 31, 2020:
The Mineral Reserves and Resources didn't change from 2020 to 2022.
The Agua Rica Open pit mineral reserves are reported at a variable cut-off value averaging $8.42/t t, based on metal price assumptions of $3.00/lb Cu, $1,250/oz Au, $18/oz Ag, and $11/lb Mo.
The Agua Rica Open pit Mineral Resources are reported at a variable cut-off value which averages $8.42/t (metal price assumptions of $4.00/lb Cu, $1,600/oz Au, $24/oz Ag, and $11/lb Mo). Alumbrera deposit: Whittle pit shell cut-off at 0.22% copper equivalent; Bajo El Durazno deposit: 0.2 g/t Au cut-off within pit shell.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Proven
|
587,200 kt
|
Copper
|
0.57 %
|
7,379 M lbs
|
|
Proven
|
587,200 kt
|
Molybdenum
|
0.03 %
|
388 M lbs
|
|
Proven
|
587,200 kt
|
Gold
|
0.25 g/t
|
4,720 koz
|
|
Proven
|
587,200 kt
|
Silver
|
3 g/t
|
57,013 koz
|
|
Probable
|
517,600 kt
|
Copper
|
0.39 %
|
4,450 M lbs
|
|
Probable
|
517,600 kt
|
Molybdenum
|
0.03 %
|
341 M lbs
|
|
Probable
|
517,600 kt
|
Gold
|
0.16 g/t
|
2,663 koz
|
|
Probable
|
517,600 kt
|
Silver
|
2.6 g/t
|
43,765 koz
|
|
Proven & Probable
|
1,104,800 kt
|
Copper
|
0.49 %
|
11,829 M lbs
|
|
Proven & Probable
|
1,104,800 kt
|
Molybdenum
|
0.03 %
|
731 M lbs
|
|
Proven & Probable
|
1,104,800 kt
|
Gold
|
0.21 g/t
|
7,381 koz
|
|
Proven & Probable
|
1,104,800 kt
|
Silver
|
2.8 g/t
|
100,780 koz
|
|
Measured
|
169,684 kt
|
Copper
|
0.28 %
|
1,051 M lbs
|
|
Measured
|
169,684 kt
|
Molybdenum
|
0.014 %
|
53 M lbs
|
|
Measured
|
169,684 kt
|
Gold
|
0.26 g/t
|
1,397 koz
|
|
Measured
|
53,600 kt
|
Silver
|
1.6 g/t
|
2,670 koz
|
|
Indicated
|
215,463 kt
|
Copper
|
0.3 %
|
1,406 M lbs
|
|
Indicated
|
215,463 kt
|
Molybdenum
|
0.029 %
|
139 M lbs
|
|
Indicated
|
215,463 kt
|
Gold
|
0.12 g/t
|
816 koz
|
|
Indicated
|
206,300 kt
|
Silver
|
1.9 g/t
|
12,337 koz
|
|
Measured & Indicated
|
385,146 kt
|
Copper
|
0.29 %
|
2,459 M lbs
|
|
Measured & Indicated
|
385,146 kt
|
Molybdenum
|
0.022 %
|
190 M lbs
|
|
Measured & Indicated
|
385,146 kt
|
Gold
|
0.18 g/t
|
2,213 koz
|
|
Measured & Indicated
|
259,900 kt
|
Silver
|
1.8 g/t
|
15,008 koz
|
|
Inferred
|
745,938 kt
|
Copper
|
16 %
|
3,778 M lbs
|
|
Inferred
|
745,938 kt
|
Molybdenum
|
0.03 %
|
492 M lbs
|
|
Inferred
|
745,938 kt
|
Gold
|
0.09 g/t
|
2,172 koz
|
|
Inferred
|
742,900 kt
|
Silver
|
1.6 g/t
|
38,693 koz
|
Commodity Production Costs:
| | Commodity | Units | Average |
|
Total cash costs
|
Copper Equivalent
|
USD
|
...... &nbs
|
|
All-in sustaining costs (AISC)
|
Copper Equivalent
|
USD
|
...... &nbs
|
|
Assumed price
|
Molybdenum
|
USD
|
...... &nbs
|
|
Assumed price
|
Copper
|
USD
|
...... &nbs
|
|
Assumed price
|
Silver
|
USD
|
...... &nbs
|
|
Assumed price
|
Gold
|
USD
|
...... &nbs
|
* According to 2020 study / presentation. For the first 10 years of production.
2020 Study Costs and Valuation Metrics :
| Metrics | Units | LOM Total |
|
Initial CapEx
|
$M USD
|
......
|
|
After-tax NPV @ 8%
|
$M USD
|
......
|
|
After-tax IRR, %
|
|
......
|
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Pipelines and Water Supply
Source:
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Mine Management:
| Job Title | Name | Profile | Ref. Date |
|
.......................
|
.......................
|
|
Apr 28, 2023
|
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Corporate Filings & Presentations:
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