Newmont and its joint venture partners announced the successful integration of the Alumbrera mine, plant and infrastructure with Yamana Gold’s Agua Rica project to create the integrated MARA project.
The integration of these two assets finalizes the joint venture between Newmont (18.75%), Glencore International AG (25%) and Yamana Gold (56.25%).
“I am pleased to see this partnership complete the integration of the projects. Joining the Agua Rica ore body with the high-quality infrastructure from Alumbrera will ensure the sustainability of both sites’ resources,” said Newmont’s President and CEO Tom Palmer.
He added “Newmont looks forward to the MARA project adding value to our world-class portfolio.”
Under the MARA Project, Agua Rica will be developed and operated using the existing infrastructure and facilities from the Alumbrera mine, approximately 35 kilometers away.
The integration unlocks significant value by leveraging Alumbrera’s infrastructure including the plant, tailings storage facility, pipeline and other infrastructure to be used for processing ore from Agua Rica.
By Laud Nartey|3news.com|Ghana