Overview

The MARA project is a unique, high-quality, low-risk brownfield project located in the Catamarca province of Argentina, approximately 25 kilometres north of Andalgalá. The MARA project is a result of the integration completed in December 2020 of the Agua Rica project with the Minera Alumbrera plant and infrastructure. Leveraging Minera Alumbrera’s existing infrastructure enhances project economics, simplifies permitting and reduces the project’s economic footprint, significantly enhancing the value of the project. Yamana owns 56.25% of the project, with Glencore International AG and Newmont Corp. owning 25.00% and 18.75% interests, respectively. Yamana is the operator of the joint venture and it will continue to oversee engagement with local, provincial and national stakeholders, completion of the feasibility study and environmental impact assessment for the MARA project, and generally lead the project to development and operation.  The feasibility study is expected to be completed in 2022.

The MARA project, on a 100% basis, has proven and probable mineral reserves of 11.7 billion pounds of copper and 7.4 million ounces of gold contained in 1.105 billion tonnes of ore with an initial mine life of 28 years. Mineral resources include 260 million tonnes of measured and indicated mineral resources, containing more than 1.6 billion pounds of copper and 0.95 million ounces of gold. The project will be mined via a conventional high-tonnage truck and shovel open pit operation. Based on the results of the pre-feasibility study released in July 2019, average life of mine material moved is expected to be approximately 108 million tonnes per year, with ore feed of 40 million tonnes per year and an average life of mine strip ratio of 1.66. Further tests and studies are scheduled for the feasibility study stage to identify upside opportunities for the project with respect to processing capacity, inclusion of mineral resources, and stockpiling and blending strategies.

For more information about the MARA project, please see the Yamana press releases issued December 18, 2020, and July 19, 2019.

Please click here to view the latest technical report for the MARA project.

MARA One of the lowest capital intensity copper projects in the world, with a de-risked profile, and smaller environmental footprint. View video for a full outline of the project.