Yamana Gold, Glencore International, and Goldcorp have signed an integration agreement pursuant to which Yamana’s Agua Rica project will be developed and operated using the existing infrastructure and facilities of the Alumbrera mine in Catamarca province, Argentina. The Alumbrera mine is owned 50% by Glencore, 37.5% by Goldcorp, and 12.5% by Yamana. Ownership of the integrated project is planned at Yamana 56.25%, Glencore 25%, and Goldcorp 18.75%.
The companies believe the integration of Agua Rica and Alumbrera has significant merit given the proximity of the assets and the potential to realize synergies by taking full advantage of existing Alumbrera infrastructure.