Minera Florida is a gold, silver and zinc producing mine located 73 kilometres south of Santiago in central Chile. Mining activity has existed in this area for over 100 years.

Project History

Minera Florida has been operating successfully for over 20 years.

Type of Operation

Producing underground operation - 100% of the ore is from underground operations using open stoping mining method. Process includes three stages of crushing, single stage grinding, flotation followed by leaching of the flotation concentrates and dore production through electrowinning. The leached flotation concentrate is filtered and then treated in a flotation circuit to produce and zinc concentrate for shipment.

Mine Highlights

• The 2007 land acquisitions in the Membrillo and Chancon districts added to the potential for increased resources and mine life.

2008 Overview

• In 2008, proven and probable reserves increased by 24 percent year-over-year. Commissioning the expansion to increase throughput to 2,000 tpd began at the end of 2008.

2009 Overview

• Completed 2,000 tonnes per day expansion.
• Two new vein deposits discovered, Centenario and Polvorin, both located near current mine infrastructure.
• Based on exploration success Yamana increased Minera Florida's 2009 exploration budget and continued to advance new 2009 discoveries to indicated resources.

• Made construction decision on the Minera Florida tailings project – plan to process historical tailings which would add another 40,000 gold equivalent ounces to current expected production beginning in early 2012.

Future Growth

• Potential to increase annual production with a change in the mining method to accommodate the recently completed expansion and more effective mining of narrow veins.
• Further expansion plans will be evaluated after two years of mining at the current rate.
• Exploration at and around the mine is still in very early stages and Yamana is optimistic about significant area deposits and prospective targets that remain under-explored.
• Exploration efforts are being focused on delineation of higher grade, newly discovered Centenario and Polvorin deposits.
• Discovery of new vein zones could sustain a longer mine life.
• Continue with the development of the tailings project.

Production and Costs

2009A: 92,400 GEO
2010E: 100-125,000 GEO at $350-390 per GEO
2011E: 110-130,000 GEO at $340-370 per GEO 
 

Reserves and Resources

(at December 31, 2008)

Proven and probable reserves

4.2M tonnes at 5.55 grams/tonne gold = 746,000 ounces gold
4.2M tonnes at 41 grams/tonne silver = 5.5M ounces silver

Measured and Indicated Resources

(exclusive of reserves)
2.3M tonnes at 4.33 grams/ tonne gold = 313,000 ounces gold
2.3M tonnes at 27 grams/ tonne silver = 2.0M ounces of silver

Inferred Resources

(exclusive of reserves)
2.4M tonnes at 5.81 grams/tonne gold = 450,000 ounces of gold
2.4M tonnes at 51 grams/ tonne silver = 4.0M ounces of silver 

For further information please see Yamana’s mineral reserves and resources estimates