What are the details related to the integration between Agua Rica and Alumbrera?

In December 2020, the formal integration processes of Agua Rica with Minera Alumbrera Limited were completed, thus reaching an important milestone in the process that the shareholders started in March 2019, when they subscribed a preliminary asset integration agreement. Said agreement executed by Yamana Gold, Glencore International AG and Newmont Corporation, allows the development of the Agua Rica project using the existing infrastructure of the UTE MAA YMAD, thus creating a project with unique characteristics in the world, considering its size, the important synergies between the two companies, the reduced environmental footprint and the expected benefit for the region, the province and the Argentine nation. Since the initial agreement entered into in 2019, the partners have been working together under a Technical Committee advancing the different aspects of the project, and we are now preparing the Project Feasibility Study and Environmental Impact Assessment (EIA), which are expected to be finished in 2022.

We also continue to work with local communities and stakeholders by maintaining our open-door policy, facilitating dialogue and developing the project’s social license.

The new project is called MARA (Mina Agua Rica – Alumbrera), and the shareholding percentages are as follows: Yamana Gold (56.25%), Glencore International AG (25%), Newmont Corporation (18.75%) with Yamana Gold being the operator of the company. MARA has also entered into agreements with the UTE MAA YMAD for the use of the UTE’s infrastructure for the processing of ore from the Agua Rica deposit, and with the Catamarca state mining company CAMYEN, which owns an equity interest percentage in Minera Agua Rica’s participation in the Integrated Project business.

Since the initial agreement entered into in 2019, the partners have been working together in a technical committee, making progress in the preparation of the Project Feasibility Study and the Environmental Impact Study, which are expected to be completed in 2022. We also continue to work with the communities and authorities in order to maintain our open-door policy, facilitate communications, and continue developing the project’s social license.