Andina Minerals Advances with $800 Million Volcan Project

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--Andina Minerals Incorporated (TSX:ADM) (Toronto, Canada) has submitted an environmental impact study to the Chilean authorities for the Volcan Gold Mine Project in the Maricunga Gold Belt, in northern Chile.

The Volcan project, located 120 kilometers east Copiapo in the Atacama region, will produce 283,000 ounces per year of gold. It includes two open pit mines, a heap leach to process the law-grade ore, and an agitation cyanide leaching plant to process the high-grade law ore. Andina Minerals is currently performing the feasibility study and expects to complete it by October, while awaiting the environmental impact study permits.

The project is fully owned by Andina Minerals, and it will demand an investment of $800 million to start production in mid-2015. The company is also working on the Pampa Buenos Aires project, located approximately 15 kilometers southwest of Yamana's El Peñón silver/gold mine, in a 50:50 joint venture with Iron Creek (TSX:IRN), and on the Encrucijada project, a joint venture with Hochschild Mining plc (OTC:HCHDF) that is located 210 kilometers north of Copiapo. Both projects are in an early stage and are in Chilean Region II.

Chile is a pro-mining country with a population of more than 17 million. It has 28% of the world's copper reserves, followed by Peru and Australia.

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