In spite of the crisis, mining production for 2009 will increase thanks to the inauguration –or reopening- of 4 mines:
- Gualcamayo, located in the Province of San Juan, started producing gold in late 2008. The mine is controlled by Yamana. The investment reached 180 million dollars and the project will position San Juan as the first province in gold production.
- Manantial Espejo was inaugurated last March, although it started producing in 2008. The mine is the 8th for the Canadian producer Pan American Silver. Located in southern Santa Cruz, the mine produces silver and gold and demanded 185 million dollars and almost two years for its construction.
- Pirquitas was formally inaugurated with the presence of the President of the country, Cristina Fernandez de Kirchner, and is located in northern Jujuy. The mine was reactivated after two decades by Canadian Silver Standard Resources, the largest holder of in ground silver deposits of the world, transitioning into producer. The forecasted production of 9-10 million ounces will position the company between the 10 top silver producers globally.
- Sierra Grande, another reactivated mine, was inaugurated a few days ago and also with the presence of the president. The owner is MCC Corporation from China, and the iron mine is located in Río Negro. The investment is estimated in 100 million dollars.
These mines, along with the other 13 mines already producing, will certainly contribute to the consolidation of this dynamic sector of the economy. Also, 6 of them, along with Gualcamayo and Manantial will cement Argentina as the third gold producer in South America, after Perú (203 Tn) and Brazil (49.7 Tn).
