Yanacocha is South America’s largest gold mine, producing about 350,000 oz. of gold annually. Newmont has prepared a feasibility study for what it calls the ‘Yanacocha sulphides’ project. The first phase, mining the Yanacocha Verde and Chaquicocha deposits, will extend the mine life beyond 2040.
The company is committed to spend at least $500 million through this year with a full funding decision to come by year-end. The total investment will be $2.6 billion with production averaging 525,000 oz. gold-equivalent for the first five full years (2017-31).
All-in sustaining costs during those years would be $700 to $800 per gold-equivalent ounce. The first phase includes the construction of an autoclave. The second and third phases would further extend mine life.
(This article first appeared in the Canadian Mining Journal)
