CERRO VANGUARDIA GOLD SILVER PROJECT JV

Located in the province of Santa Cruz, Cerro Vanguardia operates multiple small open pits with high stripping ratios and multiple narrow-vein underground mines that produce gold with silver as a by-product.

OWNERSHIP

92.5%

AngloGold Ashanti

WORKFORCE

1,566

including contractors

MINERAL RESOURCE

3.3Moz

of gold

GOLD PRODUCTION

173Koz

2019: 225Koz

ALL-IN SUSTAINING COSTS

$931/oz

2019: $859/oz

CONTRIBUTION TO GROUP PRODUCTION

Cerro Vanguardia, in which AngloGold Ashanti has a 92.5% stake, is the Company’s sole operation in Argentina. Fomicruz, a state company, owns the remaining 7.5%. Cerro Vanguardia is a gold-silver operation with multiple open pit and underground mines located within the property, but mined simultaneously.

Serra Grande operates a single tailings dam. The state road GO-337 passes close to the operation, providing access for logistics. Power for the mine is supplied and purchased in the open market. Three mining methods are used for underground mining: sub-level stoping (bottom-up and top-down), cut and fill, and room and pillar.

A BRIEF HISTORY

Gold exploration at the site was started in late 1980s by the state owned Fomicruz and Minera Mincorp (JV between Anglo American Argentina Holdings Limited and a local private company Perez Companc).
Cerro Vanguardia commenced as an open pit operation in 1998 and this was supplemented in 2010 with the start of shallow underground mining to access high-grade mined material.
To complement the already existing gold plant, a heap leaching operation was started in 2012.
The mine has been operated by AngloGold Ashanti since 1998.