The Veladero mine is located in the San Juan Province of Argentina in the highly prospective Frontera District. The property is located at elevations of 4,000 to 4,850 meters above sea level, approximately 374 kilometers northwest of the city of San Juan.
Veladero is a conventional open-pit operation where ore is crushed by a two-stage crushing process and transported via overland conveyor and trucks to the leach pad area. Run-of-mine ore is trucked directly to the
valley-fill leach pad.
Veladero produced 544,000 ounces of gold in 2016, at a cost of sales of $872 per ounce, and all-in sustaining costs of $769 per ounce.1 Proven and probable mineral reserves as of December 31, 2016, were 6.7 million ounces of gold2 (252 million tonnes, grading 0.83 grams per tonne).
Gold production in 2017 is expected to be 630,000-730,000 ounces (100% basis), at a cost of sales of $740-$790 per ounce, and all-in sustaining costs of $890-$990 per ounce.1