Friday, August 19, 2011

Gold Mining in Chile

 Chile is recognized first as a producer of copper, and is less famous neighbor Peru that when it comes to gold. Gold mining in Chile dates back to the late sixteenth century, when a series of rich alluvial Produced tons per year estimated at 2 tons of gold per year. At the end of this periodical, the Spanish were driven from their mines and towns by the Mapuche Indians and gold production declined significantly.
When the second period of mining for gold began in 1740, was the gold mined veins. Gold mining has been encouraged by the creation of a Mint in Santiago in 1749, and peaked at over 3 tons in 1810. A decline in the mining sector due to cam the war for independence from Spain This happened from 1819 to 1823. The nineteenth century was a period of political instability, and therefore Chile miners left to explore in more stable countries politically.

In the 1930s, when the political climate has stabilized, the ounces of gold has been considerable re-operated as a by-product of copper and silver. This third production cycle accelerated the increase was in gold prices. This time, however, was not the time for new discoveries. In fact, hardly any new deposits have been explored, but many of the old hard-rock mining using modern technology have been reactivated. Production peaked at 11.5 tonnes in 1939 before declining to 2 tons in 1960. This level was maintained until the release of the gold price in 1971 was the beginning of the fourth, is the most spectacular rise and continued in production.
The current dynamics of the gold rush has been strengthened, thanks to the discovery of a series of sub-volcanic, mainly epithermal, gold deposits at altitudes of Mostly located more than 4000 m in the Cordillera Andes. In addition to the epithermal deposits thesis, Chile holds significant reserves aussi gold porphyry deposits. The epithermal gold deposits in Chile have formed during the Cretaceous-Cenozoic by following a non-collisional ocean-continent convergent plate margin. Crustal stresses resulting from the margin of platform created long, winding north northeast of the magmatic belt is roughly parallel the Pacific coast. Mineralization belts thesis "varies in a north-south direction, due to the timing of magmatism along the margin platform.
Although the porphyry-type deposits are as common as type epithermal deposits, the quality of the mineralization in these deposits are sporadic. Therefore, it is common that gold porphyry deposits extracted as a by-product of copper and molybdenum.
Precious gold vein deposits have been discovered in the coastal areas of northern Chile. Thesis veins are the result of a relatively recent enrichment event (in the last 15 million years), which involved the movement of the chlorine brine near the surface of the earth. This brine added additional enrichment or superficial.
Local mines
The largest gold project in Chile is the Barrick Gold Corp. (TSX: ABX) Pascua-Lama project. Pascua Lama is currently the gold project in Chile with proven and probable reserves of 17.8 million ounces of gold and 671 million ounces of silver. The project is developing, according to Barrick's website, should be operational in 2013. The estimated mine life of A years, more than 25 years, and the approximate costs of operating cash flow of $ 20 to $ 50 an ounce, which would if carried out one Pascua-Lama gold mining on lowest cost in the world.
Exeter Resource Corp.. (TSE: XRC) is an exploration stage in Chile working on the project Caspiche Situated in Maricunga belt between Barrick and Kinross Gold Cerro Casale gold-copper. The estimated size of the resource, it ranks as one of the Caspiche discovery of gold the largest industry in recent years.
State-owned Codelco, the world's largest producer of copper, gold aussi product from its activities in Chile. Codelco has an exploration agreement with Barrick years looking for new gold and copper deposits.

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