Issue link: http://resourceworld.uberflip.com/i/198816
Exploration and Mining in South America by Simon Rees Drill site near old workings at the Machado gold project of Cosigo Resources in southeast Colombia. Photo courtesy Cosigo Resources Ltd. For investors and those in the mineral industry, 2013 will probably rank as year best forgotten. This is certainly true for many operating in South America who, like their peers elsewhere, are facing the same tough operating conditions. In addition, the pain inflicted by the April-May tumble in gold prices is still smarting for those with gold-focused projects or operations. M ore perennial concerns can also be added to the South American mix; red tape abounds in some jurisdictions, while the menace of resource nationalism can never be entirely ruled out. On the other hand, South America's potential remains immense, retaining the capacity to excite, and even encourage, early-stage exploration work. As several analysts stressed, during the Toronto Resource Investment Conference in September, bear markets invariably lead to bull markets; South American-focused companies, both large and small, will undoubtedly head the vanguard of any 12 www.resourceworld.com recovery. But until then, it is a matter of remaining financially viable and advancing flagship projects whenever possible. For many, this will be easier said than done. AngloGold Ashanti Ltd. [AU-NYSE; AGG-ASX; AGD-London; ANG-Jo,burg] holds a 92.50% stake in Cerro Vanguardia Mine, Argentina, and wholly-owns the Serra Grande Mine in Brazil. Its Brazilian subsidiary, AGA Mineração, operates the Córrego do Sítio and Cuiabá complexes. Total attributable output for South American operations stood at 175,000 ounces gold for the quarter ending June 30, with Cerro Vanguardia also recording 735,000 ounces silver produced. Antioquia Gold Inc. [AGD-TSXV] unveiled a resource estimate for its flagship Cisneros gold project in Colombia, on August 29. Measured and indicated resources are just below 600,000 tonnes averaging 5.04 g/t gold for 97,092 oz gold contained. Inferred resources are just over 1.09 million tonnes, grading 4.90 g/t gold for 172,861 oz gold contained. Atico Mining Corp. [ATY-TSXV] operates the underground El Roble copper-gold mine in Carmen de Atrato, Colombia. The mine has processed 1.5 million tonnes of november 2013