Brazil - C1 Santa Luz | Brazil (100%-Yamana owned)
C1 Santa Luz is located in Bahia state in eastern Brazil, 160 kilometres east of Yamana’s Jacobina mine, and 140 kilometres north of the Fazenda Brasileiro mine. It has been planned as a conventional 2.5 million tonnes per year open pit operation with ore to be treated by flotation and carbon-in-leach processing. Construction of the C1 Santa Luz project is complete and during ramp-up, work was done to improve the rate of recovery from the carbon-in-leach circuit, which were lower than designed.
After extensive review, ramp-up activities at C1 Santa Luz were suspended in the third quarter of 2014, and the project was put on care and maintenance while several identified alternative metallurgical processes are evaluated. This decision is consistent with Yamana’s focus on maximizing cash flow rather than production only and protects the significant inventory of mineral resources at C1 Santa Luz that would otherwise likely be lost permanently to tailings with the current recovery levels.
The evaluation of the alternative metallurgical recovery processes is expected to be completed before the end of 2015. For further information see Press Release dates September 10, 2014.
|Gold mineral reserves
|1.3 million oz. proven & probable
|Gold mineral resources
|478,000 oz. measured & indicated