Gold: A millionaire investment in Argentina by a Canadian company in its Saltia mine

the borderThe first gold mine in Salta Receiving an investment of US$64 million this year, which will be used to improve processing and advance towards renewable energies. He will be the person responsible for the disbursement Fortuna silver minesin Argentina with its subsidiary Mansfield, responsible for the project that confirmed the investment.

Of the total investment An amount of US$41.7 million is expected for the second phase of expanding the nomination platform Which, as the company said in its results presentation, will be completed in the second half of the year.

Another US$12.5 million will be allocated for mineral extraction, US$6.6 million for replacement and modernization of heavy equipment used in the mine, and US$3.2 million for spare parts for other plants.

The investment comes though Decrease in expectations And also, specifically, to improve the performance of the mine Fortuna owns in the country – the company also has mines in Mexico and Peru, in addition to Africa – which lowered its forecast for this year to 93,000-105,000 ounces.

Last year, Lindero contributed 94,905 ounces of gold bullion, 6,015 ounces of fine coal, and 319 ounces of copper concentrate, the Vancouver-based mining company said in its annual report.

Among the plans The project is located at an altitude of 3800 meters Above sea level in the Salar de Arizzaro, from this new investment it has emerged that improvements in the filtration process are also aimed at the contribution that the Arizzaro project may make, which with very good prospects is the exploration of “green areas”.

Details of the forecast show that Fortuna expects to place about 6.6 million tonnes of Lindero ore on the heap leach pad averaging 0.62 g/t gold, or containing about 131,000 ounces of gold.

In this project Establishment of a 6-megawatt photovoltaic station to supply industrial processeswhich began nearly four years ago, the Salta government said in a statement in which it also said that the provincial Ministry of Mining and Energy approved the environmental impact report.

As in other mining projects, the integration of renewable energy aims to reduce dependence on diesel, in an area with high solar radiation such as Puna Saltia.

In Lindero's annual report, project progress and investments in relation to the project are also indicated Economic conditions, specifically tax conditions, have finally been set in the current administration of President Javier Miley. Even when they explain that it is possible to reduce operating costs in recent months and it always depends on global metal prices.

He noted that there is a “proven focus on capital allocation and effective cost management.” Fortuna Silver Mines CEO, Jorge Janoza.

When the mine opened in May 2022, the CEO noted that since 2018 it had directly invested US$440 million in exploration, pre-construction, construction and pre-production phases.