Chile Gold Projects Pipeline

• Construction started in January 2021. The mine is 86% completed.
• The USD$860m project is located in Northern Chile and is 100% owned by Goldfields.
• The project is planned to produce an average of 355,000oz/y gold-equivalent over its first 10 years, at an estimated all-in sustaining cost of $552/oz, with a 11.5-year mine life.
• The project will use a 26MW hybrid solar and thermal power solution.
• Diesel generators will provide 16MW and the solar unit will provide 10MW of power, which is set to save the mine over US$7m in energy costs over the first 10 years.
• Check out our Project Spotlight for a more detailed look at Salares Norte.

• While Kinross is waiting for its Lobo Marte project to be permited, it has decided to restart its La Coipa project, which poured its first bar of gold in March 2022.
• Initial capital costs for restarting the operation were pegged at $225 million.
• La Copia is expected to produce 690,000 gold-equivalent oz. from 2022 to 2024. Kinross increased the useful life of La Coipa by 45%, reaching approximately 1 million ounces of gold equivalent by incorporating the adjacent Puren deposit.
• Existing infrastructure at the camp would be refurbished and the mine fleet from its nearby Maricunga operation, which was placed on care and maintenance, would be redeployed to the site.
• Kinross completed the assembly of its new 500-meter FAM mobile trailer stacker earlier this year. The new 1,000 t/h reve stacker for leached gold was one of the first improvements identified to make the operation more efficient.

Lobo-Marte

• Lobo Marte is a gold deposit located in the Maricunga strip, 160 kilometers east of Copiapó.
• The project owned by Kinross could produce a total of 4.5 million oz. gold over a 15-year mine life at an estimated cost of $995 million, with the gold recovery rate expected to be 71%.
• Mining would take place for 12 years, followed by three years of residual processing. Average all-in sustaining costs per oz. of gold is estimated at $745.
• The prefeasibility study contemplates project construction beginning in 2025, with first production following in 2027.
• Check out our Project Spotlight for a more detailed look at Lobo Marte.

El Peñón

• Yamana Gold, owns 100% of the El Peñon gold and silver mine, located in the Atacama Desert.
• El Peñon started operations in 2000 and has produced more than 5.3 Gold Moz and 134 Silver Moz over that time.
• Since 2021, the mine has been investing in exploration that has replenished the mines mineral reserves to extend the life an additional 6 years. Additional drilling until 2023 is expected to further increase the mine life.  
• According to Yamana, the mineral reserves of 7.1 million ounces of gold, 57 million ounces of silver and 6.7 billion pounds of copper.
• An Environmental Impact Statement was submitted in 2021, which aims to expand operations at the El Peñón underground with an investment of USD$172 million.
• The initiative considers the expansion and exploitation of the existing veins in the “El Peñón”, “Fortuna” and “Laguna” sectors increasing production to 5.5 m/t of ore and adding 9 years of life to the mine.
• In 2016, the company decided to to optimize its production which resulted in reducing the mine throughput but stabilizing production at approximately 160,000 ounces of gold per year. The lower throughput improved processing plant performance, resulting in higher recoveries.

Fenix Gold

• Located in the Maricunga Strip, near Copiapó, the project will require an investment of US$206 million.
• The Fenix Gold Project has proven and probable reserves of 116 million tonnes grading 0.49 gram gold per tonne for 1.8 million contained oz. gold and 1.3 million recoverable oz. gold.  
• The project is expected to have a 16-year mine life and estimated to produce about 93,000 oz. gold on average for the first 13 years at an all-in sustaining cost of US$997 per ounce.
• The project will generate employment for approximately 1,200 people during the construction phase and 550 people during the operations phase.
• In the most recent news from June 2022, the SEA rejected the environmental impact assessment noting that the project meets environmental regulations and requirements but that more information is required on how it aims to eliminate the “adverse impacts” that the project will have on the area’s wildlife.

Nueva Esperanza

• Australian based Kingsgate Consolidated sold the project to Canadian TDG Gold in 2021.
• The total resources of the mine reach 34.6 million tons of ore with average laws of 1.7 oz/t of gold, making a recoverable total of 1.9 million ounces of gold.
• The gold-silver project already has an environmental impact assessment approval in place to allow for its pre-development, construction, and operation. Investment is expected to reach US$215 million.