What is the value of the santurban paramo?

What is the value of the santurban paramo?

WATER AND GOLD

The Santurban highlands hold both a gold and water deposits. Obtaining the maximum benefit from one of these will impede benefiting from the other. The decision of determining the final use of this land is in hands of the Colombian Government, and depends in great manner of a concept by the Environment Ministry, regarding the borders of the paramo.

The final tracing of the borders of the Paramo (and therefore, of no-mining zones) was recently announced by the Ministry, who warned that it would not leave everyone satisfied.

The water deposit: The Santurban paramo is composed by a set of water recharge zones, lagoons and a special ecosystem. With a surface area of 143,000 ha it is responsible for the water supply of several municipalities including part of Bucaramanga, capital of the Santander Department. Approximately 2.2 million people.

The gold deposit: The paramo surrounds the California Valley and the Vetas districts, traditional mining centers and host of several mining companies with legal rights to advance exploration activities, which after investing nearly US$2 billion in the past 15 years have found resources of 20 million ounces of gold, and expect authorization to build mines and recover the investment.

This chart presents a summary of the average recent mining investments made in the CaliforniaVetas district and the resources found.

 

Company Investment (US$ million) Period

(yrs)

Resources (million Au oz)
CB Gold 55 6 N/A
Eco Oro 230 16 5,2
AUX 1.610 4 14,3
1.895 19,5

Source: Public information, OPHIR MRI

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Welcome to Colombia Mining Center!
We are a mining information portal that presents news and updates as they are seen inside Colombia and from the world, bringing together the whole picture for mining investment in Colombia. Here you will find:
  • 1) Press releases from companies advancing mining operations in Colombia in English and Spanish.
  • 2) Relevant news from the Colombia mining industry from Colombia and international sources.
  • 3) A weekly snapshot with stock performance of mining companies with assets in Colombia, along with key investment metric and powerful investment tools and insight.
  • 4) Quarterly investment analysis, industry updates and special coverage reports.
  • 5) A set of technical and legal resources to complement your mining investment research.