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 602,000 ounces of gold in 2015, at a cost of sales of $499 million, and all-in sustaining costs of $946 per ounce.1 Proven and probable mineral reserves as of December 31, 2015, were 7.5 million ounces of gold2 (276.9 million tonnes, grading 0.85 grams per tonne).
Gold production in 2016 is expected to be 530,000-580,000 ounces, at a cost of sales of $820-$900 per ounce, and all-in sustaining costs of $800-$870 per ounce.1