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Minera Alumbrera Ltd.

Company Detail

Description

Argentine mining company Minera Alumbrera Ltd. owns the Bajo de la Alumbrera copper-gold-molybdenum open-pit mine since 1997, located in Catamarca province. Yacimientos Mineros de Agua de Dionisio (YMAD) is responsible for the operation of the mine, it owns the exploration and mining rights, and is entitled to 20% of the project's profits. YMAD is a partnership between the Catamarca provincial government, the National University of Tucuman and Argentina's government. The mine produces 400,000t/y of concentrate, made up of 100,000t of copper and 300,000 troy ounces of gold. It additionally produces 33,000 ounces of doré bars and 1,900t of molybdenum concentrate. The deposit's lifespan is expected to end in 2019. During 2015, the company added the Bajo del Durazno copper-gold deposits to its operations, located in the Farallón Negro district, 4km from Bajo de la Alumbrera. The company's production is transported by train to the General San Martin port and shipped to international markets. Minera Alumbrera was incorporated in 1993 and is controlled by Swiss miner Glencore and Canadian firms Goldcorp and Yamana Gold. The company is headquartered in Belén, in the Catamarca province.

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