en.Wedoany.com Reported - The Casposo mine, located in Calingasta, San Juan Province, Argentina, has recently resumed production, ending years of care and maintenance. The restart ceremony was jointly presided over by Governor Marcelo Orrego and Austral Gold President Eduardo Elsztain. The project's initial investment exceeds US$15 million, primarily allocated to exploration and plant upgrades. The company estimates that by 2026, the mine's exports could reach approximately US$60 million, with gold production nearing 120,000 ounces and a mine life of six to seven years.
In terms of employment, the Casposo mine has created over 300 direct and indirect jobs, the vast majority of which are held by local workers from San Juan. At the ceremony, Orrego emphasized: "Mining is about improving community life. The government's gain lies in creating more jobs, more added value, and people choosing to stay and live here." He also noted: "Behind every number is a person from San Juan who today can work, grow, and plan their future in their own homeland. This is the true development of every community." Furthermore, he reaffirmed the commitment to responsible mining: "We believe in responsible mining, with controls and environmental commitment, as an engine for provincial growth."
The Casposo mine was acquired by Austral Gold in 2016 and operated until 2019, when it was shut down due to a decline in international metal prices. It remained in a state of care, maintenance, and exploration until securing funding to restore facilities at the end of 2024. The operational plan includes processing both self-mined and third-party ore, with the goal of establishing the mine as a regional processing hub. In Calingasta, the restart is eagerly anticipated by local suppliers and services, and the industry is noting the multiplier effect of workforce recruitment on the regional economy of San Juan. Source: Fuerza Minera.
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