Mineros, a Colombian gold miner, predicts a 13% decline in gold production in 2024 due to the sale of its Argentinian subsidiary. Cash costs are expected to rise slightly while all-in sustaining costs per ounce are projected to decrease.
Mineros, the dual-listed Colombian gold miner, has announced that it expects a decrease in gold production in 2024 following the sale of its Argentinian subsidiary. The company anticipates that gold production will range between 209,000 and 229,000 ounces in 2024, representing a decline of approximately 13% compared to its guidance for 2023.
During 2023, Mineros successfully produced 250,769 ounces of gold, staying within the projected range of 239,000 to 262,000 ounces.
The decline in production expectations for 2024 is primarily due to the sale of its Gualcamayo property, which was sold to Eris in September.
In terms of costs, cash costs are expected to rise slightly to a range of $1,180 to $1,270 per ounce in 2024, as opposed to the range of $1,170 to $1,270 provided in the 2023 guidance.
Additionally, the all-in sustaining cost per ounce of gold sold is projected to experience a minor decrease to between $1,430 and $1,530 in 2024, compared to the $1,440 to $1,540 range outlined in the previous year's guidance.
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