How much mineral does MARA have?
He Minera Agua Rica Alumbrera project (MARA) in Catamarca has proven and probable mineral reserves of 5.4 million tons of copper and 7.4 million ounces of gold, contained in 1,100 million tons of mineral.
According to MARA data, mineral resources include 259 million tonnes of measured and indicated material, plus inferred resources of 742 million tonnes, representing upside potential to further define and increase mineral reserves and mine life. mine.
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The last known projections of MARA indicated that when the mine is in operation the project will be among the top 25 copper producers in the world.
During the first ten years, if the project is approved, commercial operation will begin and in those ten years, it is estimated to treat 40 million tons per year. That figure, translated into production, gives exports of US$1,500 and US$1,700 million per year only from this project. Over the entire life of the mine, which is calculated in 27 years of productionwill mean a total export of almost US$35,000 million.
Who is behind the MARA project?
The Swiss multinational Glencore invested about US$475 million in July 2023 to become the sole shareholder of MARAin line with the plan to control long-life and high-quality mining assets. Glencore’s decision was strategic. Today, large mining companies are looking for long-lived, high-quality assets to satisfy the growing demand for the red metal, which is estimated to continue rising in the coming years thanks to the energy transition.
Glencore
In the initial investment of the project they were Glencore, Newmont and Yamana Gold. But at the end of 2022 Glencore increased its participation in MARA, by disbursing some US$160 million for the 19% that the firm owned Newmontand went on to have 43.75%. At the same time, Yamana Gold was acquired by the Canadian American Sliver Bread.
Now, The Swiss agreed to pay US$475 million to Pan American to boost its copper portfoliothe key mineral in the transition towards a greener economy, and began to control the 56.25% of MARA.
What jobs do you do now at MARA?
After obtaining the permits requested from the Ministry of Mining in the province of Catamarcathe mining company mobilized drilling machinery to begin the authorized tasks, which will last for four months.
Official permits include authorization for a campaign three wells in the layout of the potential tunnel, north of the mineralized area near the Minas River, and seven more wells in the area of Río Blanco Field.
“In order to have greater knowledge of the characteristics of the deposit, MARA carries out preliminary tasks before presenting the Environmental Impact Report”they clarified from the company.
In addition, they added that MARA “works under the guidelines of the Mining Code of the province of Catamarca and its compliance is supervised by the enforcement authority.”
How many people work on the MARA project?
MARA currently has a total staff of more than 900 people at the project sites in Catamarca, Andalgalá, Belén, Santa María, Filter Plantport in Rosary and offices in Buenos Aires.
The activities in the Catamarca locations are carried out with 85% local personnel.
How much money did MARA spend in 2024 in Catamarcar?
In the first half of 2024 MARA made purchases for $9.8 billion in Catamarca, where It has 381 provincial suppliers.
In relation to purchases and services provided by companies of Andalgalá, Belén and Santa María during that period, MARA disbursed $5.4 billion. That is, 75% of purchases from suppliers in the Primary Incidence Area (API) area correspond to Andalgalense companies, followed by those from Santa María and Belén.
What is the link with local suppliers like?
MARA Project has an active development program for local suppliers to promote the growth of companies in its neighboring communities, which includes dialogue tables, advisory and training sessions, presence of buyers in the communities and business rounds at fairs, stands and permanent dialogue with the Supplier Chambers from its neighboring towns.
Among the providers, there are catering services, property security, road maintenance, plumbing and electrical services, building maintenance, medical service, personnel transportation, van rental and labor for carrying out tasks at project sites.
According to the mining company, this program allowed adding 214 new Catamarcan supplier companies from 2020 to the present, expanding the benefits in the province during the development of the integrated project.
What is MARA’s dialogue with the communities like?
In order for the Ministry of Mining to authorize the new exploration and drilling campaign, MARA carried out six face-to-face meetings in neighboring communities and an inspection visit to workplaces last March.
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During that time, a process of Citizen Participation and a cycle of technical talks which was attended by more than 1,000 residents of Andalgalá, Belén and Santa Maríathe municipalities, representatives of indigenous peoples of the area, among others.
Thanks to the hard work done over the last 5 years, MARA today has a Citizen Participation program to maintain dialogues and exchanges with neighbors, where the progress of the project is detailed. What’s more, in 2023, one of the years where the program was most worked on, 7,839 inhabitants of Andalgalá, Belén, Santa María and San Fernando del Valle de Catamarca participated in these talks.
What infrastructure works are carried out in Andalgalá?
But in addition to citizen participation, The mining company has been developing an infrastructure improvement plan since the end of 2023 centralized in the department of Andalgala.
This program, designed by excellent professionals who are no longer in the mining industry and carried out in conjunction with Andalganese suppliers, allows for the employment of 162 people from local companies, including bricklayers, technicians and safety advisors, carpentry assistants, plumbers, electricians and painters.
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“Through the contribution of labor, improvements were carried out in Choya, El Potrero, Amanao, Villa Vil, Huaco, Malli, Huachaschi, Andalgalá Centro and Minas Capillitasgiving support to educational, sports, religious institutions and NGOs in each of the aforementioned locations,” they maintained from MARA.
Some of the most significant works in the educational field included improvements in the schools of Choya, Amanao and Malli and in the Institute of Higher Studies of Andalgalá.
But improvements were also made in the Ferro Sports Club, Progreso Sports Club and Santa Lucía Sports Club of El Potrero and in the Retiree Center and the Huarmi containment house of the Andalgalenses.
Source: Ambito
