Cerro Moro | Argentina
Our Cerro Moro project located in Santa Cruz province and acquired by Yamana in 2012, incorporates a number of high grade gold and silver vein deposits. After updating a feasibility study, and conducting additional detailed engineering and other studies of the project during 2014, we announced the decision early in 2015 to move ahead with construction. Construction is expected to begin in the second half of 2015, after further detailed engineering studies are completed.
With plant throughput of 1,000 tonnes per day and ore coming from open pit and underground operations, the current mine plan indicates average annual output in the ﬁrst three years of full production of 135,000 ounces of gold and 6.7 million ounces of silver. Total project capital costs for Cerro Morro are forecast at $398 million, consisting of $265 million for initial capital and $133 million for life-of-mine sustaining capital. Production is expected to begin in the second half of 2017, with payback accomplished within three years.
Annual Production Estimated over life-of-mine at 102,000 ounces of gold at cash costs of $380-$400 per ounce and ﬁve million ounces of silver at cash costs of $5.35-$5.50 per ounce.
- Formal construction to begin in second half of 2015
- Planned throughput of 1,000 tonnes per day
- 100% Yamana-owned
The rigorous process we applied to updating the feasibility study and the detailed engineering done to date have further improved our conﬁdence in the estimates for Cerro Moro and conﬁrms that this high quality project can be developed with modest initial capital.
Barry Murphy | SVP Technical Services