Mining Companies Chile to the Top Ten World Gold Production

With investments of over U.S. $ 10,000 million, before the end of the decade would place our country among the seven or eight largest producers of metal. A growing demand and an attractive prospect in the price of an ounce of gold in the world, worth over U.S. $ 1,508, are driving large investments in this metal. Currently, Chile is ranked 17 worldwide producers, but it is estimated that by the end of the decade should be located between the seventh and eighth, as there are in the pipeline, only the region of Atacama, projects over U.S. $ 10,000 million. Sonami President, Alberto Salas, said that today "the production of the yellow metal is 50% of the byproduct of copper mining. But now with investments in specific projects and own gold mining growth in this sector, we can project the 2018 production of 120 metric tons (MT) per year, three times higher than today. " More optimistic is the Director of Studies and Public Policy (s) Cochilco, Vincent Perez, who estimated that "by 2016 the total gold production in Chile has the potential to triple the current total of more than 130 TM, showing a compound growth annual average of 18.3% and could be in eighth place worldwide. " The director of Cesco, Juan Carlos Guajardo, confirms the interesting picture. "The structural weakness of the dollar and the inflation outlook in several regions of the world, reinforcing the role of gold as a safe haven asset in the financial world. In addition, central banks have resumed purchases of gold as a reserve instrument, considering the loss of strength of the dollar. " MINING COMPANIES Barrick Gold The Canadian mining company, whose president is Peter Munk, and the representative in South America, Igor Gonzalez, has two projects in Chile, Pascua-Lama and Cerro Casale, both located in the Atacama Region. The first site, which will come on stream in 2013, is located 75% in Chilean territory (Easter) and 25% on the Argentine side (Lama). The estimated production is between 750,000 and 800,000 ounces of gold during its first five years of operation. To exploit mineral reserves are 391 TM, a total of 18 million ounces of gold, 689 million ounces of silver and 256,000 tons of copper. It is currently in the engineering Meanwhile, Cerro Casale is located inside of Copiapo, in the Salar de Maricunga. It is estimated that the project includes proven and probable mineral reserves of 668.5 MT grading 0.53 0.22% gold and copper. This mineral, the initial investment would be about U.S. $ 5,200 million and could produce about 1.1 million ounces of gold per year and 115,000 tons of copper over a lifetime of 17 years. Goldcorp Goldcorp is a Canadian owned company, whose chairman is Charles Jeannes since 2008. Opera in Chile with the El Morro project (70%), through a joint venture with New Gold (30%), and expect it to come into operation during 2015. The project, located 84 km east of Vallenar and 160 km southeast of Copiapo, Atacama Region, has focused in recent years in the La Fortuna deposit. It is estimated that El Morro has resources of 458 MT of ore grading 0.58% copper and 0.47 grams per tonne gold. Currently, the farm is expected to be held open pit and projected production of 650,000 tons per day of concentrate equivalent to 300,000 ounces of gold a year, with a lifespan of 14 years. The project, therefore will innovate with the installation of a desalination plant in the area Totoral, which have a capacity of 740 liters per second. Kinross Since 2005, the president of the Canadian company Kinross is Tye W. Burt. Until now the firm participates in the operation of two projects, and Golden Mantles Maricunga, which in 2010 obtained a production of 300,000 ounces of gold equivalent, and this year estimate, according to executive vice president, José Tomás Letelier, exceed 400,000 ounces gold. For 2014, expected to start operation of the project Lobo-Marte, which includes an investment of U.S. $ 575 million and expect to reach the 11 tons of gold. This site is located between the mines Maricunga and La Coipa, Atacama Region, and production is projected 350,000 to 400,000 tpa of gold equivalent. Maricunga reserves have a lifespan until 2024, meanwhile, Blancos, 2015, which aim to extend beyond that date with another project. The firm also has a joint venture with Grupo Errazuriz, in Mantles of Gold, since 2009, and Codelco mine Puren, since 2004, all in the Atacama region. Kinross expected gold production in the project Lobo-Marte could start from the last quarter of 2013 and mid 2014.