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Argentina
Minera Agua Rica Alumbrera (MARA) Project (Alumbrera)

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 Location:
80 km NE from Belen, Argentina

  Project Contacts:
200 Bay Street Royal Bank Plaza, North Tower Suite 2200
Toronto
Ontario, Canada
M5J 2J3
Phone  ...  Subscription required
Fax(416)-815-0021
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Copper
  • Molybdenum
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life27 years (as of Jan 1, 2020)
On December 17, 2020, Yamana completed of the integration of the Agua Rica Project with the Alumbrera Mine and Alumbrera plant and infrastructure forming the MARA Joint Venture under which Yamana holds a controlling interest of 56.25%, with Glencore International AG holding a 25.00% interest and Newmont Corporation holding an 18.75% interest.

MARA full feasibility study results and completion of the Environmental and Social Impact Assessment, expected in 2022.

On July 19, 2019, the Company announced the positive results of a Pre-Feasibility Study(PFS-A) for MARA Project. The Joint Venture Committee advanced optimization studies in late 2019 and early 2020, the results of which were complied as Pre-Feasibility Study(PFS-B). In 2022, the Company only publishes the Pre-Feasibility Study(PFS-A) results. The economic and production part for this object was taken from news release on Pre-Feasibility Study(PFS-B).


Owners

Source: p. 95
CompanyInterestOwnershipInvestor's Info
Newmont Corp. 18.75 % Indirect
Glencore plc. 25 % Indirect
Yamana Gold Inc. (operator) 56.25 % Indirect
On December 17, 2020, the Company completed the integration with Glencore and Newmont and a new joint venture, the MARA Joint Venture, was formed to manage, develop and operate the project. Under the integration, Yamana, the former 100% holder of Agua Rica and the former partners of Alumbrera have created the MARA Joint Venture pursuant to which Yamana holds a controlling ownership interest in the MARA Project at 56.25%. Glencore holds a 25.00% interest and Newmont holds an 18.75% interest in the MARA Project. Yamana has been appointed manager of the MARA Joint Venture.

Contractors

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Deposit Type

  • Breccia pipe / Stockwork
  • Epithermal
  • Porphyry
  • Vein / narrow vein


Summary:

Deposit Type
The Agua Rica deposit is interpreted as a substantial gold-rich porphyry copper-molybdenite deposit, formed by multistage porphyry intrusions of Miocene age. These porphyries, interpreted as intrusions distal to the Miocene Farallón Negro Volcanic Complex, are of calc-alkaline dacitic composition and result from arc magmatism produced by subduction below the continental western margin of South America. The principal volcanic centre hosts the giant Bajo de la Alumbrera porphyry Cu-Au-Mo deposit, now operating as MAA, 35 km to the west.

The emplacement of these intrusions produced porphyry-style veining (stockwork, A and B veins), vein and disseminated mineralization (chalcopyrite, molybdenite, pyrite, pyrrhotite, magnetite and bornite), and alteration (potassic and propylitic).

Continued hydrothermal activity produced various phases of hydrothermal breccias, accompanied by phyllic alteration, intense advanced argillic alteration (pyrophyllite and alunite), and the formation of a high sulphidation epithermal overprint (pyrite-covellite-enargite-galena-sphalerite, containing Cu-Au-AgPb-Zn). This later epithermal mineralization partially replaced the earlier porphyry-style mineralization. A gradual unroofing of the magmatic and hydrothermal system is proposed to explain this juxtaposition of mineralizing environments that usually occur at very different depths.

A stage of supergene alteration, typical of porphyry copper environm ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Agua Rica Mineral Reserves are contained within a single open pit. The pit is located in a valley, Quebrada Minas, flanked by mountainous terrain ranging in elevation between approximately 3,000 masl to 4,000 masl.

The Agua Rica deposit will be mined via a conventional high tonnage, truck and shovel open pit operation with ore being crushed at the new mine site and conveyed approximately 35 km west to the existing Alumbrera processing plant. The average LOM material moved is expected to be approximately 108 Mtpa, with an ore feed of 40 Mtpa and average LOM strip ratio of 1.66. Mine waste will be deposited in the Choya valley, adjacent to the Agua Rica, at WRF.

The mining strategy includes the use of a mining contractor to develop the first two stages with the objective of minimizing the Project’s initial capital cost, while the production stage will be carried out primarily by the Parties.

Due to the mountainous topography, the Agua Rica mine will require mine pioneering activities such as roads, dykes, and crushing pad to properly enable the mine commencing.

Prestripping of 83.8 Mt of overburden will be required. Prestripping is forecast to take place over a 24 month period after all required mine pioneering is completed.

A maximum of 165 Mtpa (108 Mtpa average) is planned to be mined from the Agua Rica deposit. A total of 40 Mtpa of plant feed is planned for the mine, with a ramp-up of 28 Mt for the first year. The aver ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. Annual
Copper Equivalent M lbs 469
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily processing capacity  ......  Subscription required
Annual mining rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at December 31, 2020:
The Mineral Reserves and Resources didn't change from 2020 to 2021.
Open pit mineral reserves are reported at a variable cut-off value averaging $8.42/ton, based on metal price assumptions of $3.00/lb Cu, $1,250/oz Au, $18/oz Ag, and $11/lb Mo.
Open pit Mineral Resources are reported at a variable cut-off value which averages $8.42/ton milled with overall slope angles varying from 39° to 45° depending on the geotechnical sector.

CategoryTonnage CommodityGradeContained 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:

CommodityUnitsAverage
Cash costs Copper Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Copper Equivalent USD  ......  Subscription required&nbs
Assumed price Molybdenum USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation. For the first 10 years of production.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
Source: Subscription required


Proposed Heavy Mobile Equipment as of June 30, 2019:
HME TypeModelSizeQuantityLeased or
Contractor
Dozer (crawler) ....................... Subscription required ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 23, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Quarterly Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Annual Report 2018
Corporate Presentation 2008
Feasibility Study Report 2006
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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