Advertisement
Last Articles
- People in Argentina
- Government in Argentina
- ECONOMY
- Argentina - Infrastructure, power, and communications
Last News
- Four Romanian Nationals Charged with Allegedly Participating in Multimillion Dollar Scheme to Hack into and Steal Credit Card Data from U.S. Merchants [12/09/2011]
- Arkansas Man Pleads Guilty to Civil Rights Offenses for Involvement in the Firebombing of Interracial Couples Home [12/09/2011]
- Operator of Detroit School and Day Care Pleads Guilty to Tax Evasion [12/09/2011]
- Gaza: UN agency invites runners worldwide to take part in marathon [12/09/2011]
Argentina Government: Goldcorp To Invest $850 Million In Cerro Negro Project
Argentina's Planning Ministry said Thursday that Canadian mining company Goldcorp Inc. (GG) will invest $850 million to put into production its Cerro Negro gold project in Santa Cruz Province.
"This announcement consolidates Argentina as a destination for long term investment as the Cerro Negro project has a useful life of 20 years," Planning Minister Julio De Vido said in a statement.
De Vido met with GoldCorp's vice president for Central and South America, Eduardo Villacorta, in Mexico City on Thursday, according to the statement.
A GoldCorp spokesman wasn't available for comment.
Vancouver-based GoldCorp said on April 5 it expects to start producing gold at Cerro Negro in mid-2013 and the mine will produce an average of 550,000 ounces a year during the first five years of production. The company said it expects to make capital expenditures of $750 million to reach first production in 2013.
Goldcorp operates mines in Canada, Mexico, Guatemala, the U.S. and Argentina, with a pipeline of projects four countries in the Americas.
Tags: produce average expenditures