Veladero
Veladero is an open-pit gold and silver mine in San Juan Province, Argentina, operated as a 50/50 joint venture between Barrick Gold and Shandong Gold. It uses cyanide heap leaching to produce ~400,000 ounces of gold per year, selling doré into global precious-metals commodity markets.
- Company typePrivate
- Founded2005
- HeadquartersSan Juan, Argentina
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Veladero does
Veladero is an open-pit gold and silver mining operation located at 4,000-4,850 meters altitude in San Juan Province, Argentina. The mine uses cyanide-based heap leaching on crushed ore stacked in engineered valleys to produce doré bars (unrefined gold-silver alloy), targeting an average production rate of approximately 400,000 ounces of gold per year. Commercial operations began in October 2005, and the asset is operated as a 50/50 joint venture between Barrick Gold Corporation and Shandong Gold Group.
Veladero's revenue is generated by selling doré into global precious-metals commodity markets and refineries at prevailing international spot prices; the operation is a B2B commodity producer rather than a branded consumer product. The mine has invested over USD 10 billion in goods, services, taxes, and salaries in Argentina since inception, supports 4,460+ direct collaborators plus a supply chain of roughly 900 companies, and has secured ISO 14001, ISO 45001, and HMS/TSM sustainability certifications. Recent strategic capital deployment includes a $271 million investment plan through 2027 to expand the leaching valley, a $54 million cross-border high-voltage power line commissioned in December 2022, and ESG/community projects such as the Iglesia Community Solar Park with EPSE and circular-economy initiatives with local partners.
Veladero firmographics
Firmographics- Name
- Veladero
- Legal name
- Veladero
- Website
- https://veladero.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Veladero is an open-pit gold and silver mine in San Juan Province, Argentina, operated as a 50/50 joint venture between Barrick Gold and Shandong Gold. It uses cyanide heap leaching to produce ~400,000 ounces of gold per year, selling doré into global precious-metals commodity markets.
- Ownership category
- akta.pro rank
Veladero industry classification
Industry- Product category
- Gold Mining
- NAICS
- Other Metal Ore Mining (21229), Mining (except Oil and Gas) (212)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industries
- Silver Mining (IMAKAEAB), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)
Keywords
Where Veladero is headquartered
LocationHeadquarters
- HQ city
- San Juan
- HQ country
- Argentina
- HQ region
- Latin America
Offices4 records
Markets served
Veladero business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Others
Revenue model
- Gold and Silver Production: Veladero produces doré (unrefined gold-silver alloy) through heap leaching mining operations. The mine has extended project life beyond 2030 through infrastructure investments and exploration. Average annual production rate target of approximately 400,000 ounces of gold.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Gold and silver commodity sales |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Veladero product offering
Product offeringCore offering
Veladero is an open-pit gold and silver mining operation located at high altitude in San Juan Province, Argentina. It uses cyanide heap leaching to extract precious metals from ore and produces gold-silver doré bars for sale to refiners. The operation has been producing since 2005 and targets approximately 400,000 ounces of gold per year.
Product overview
Veladero is a gold and silver mining operation (open-pit mine) in Argentina, not a technology product company. The company's primary offering is gold and silver extraction via cyanide leaching. Supporting services include participatory environmental monitoring for local communities, solar energy infrastructure projects for nearby municipalities, circular economy initiatives for material reuse, a mine visit program for community engagement, and a supplier portal for contractor management. There is no software product platform or SaaS offering.
Differentiator
Problem solved
Functional benefit
Products and services
- Gold doré bars (gold-silver alloy) Primary sellable output of Veladero: gold-silver doré bars produced via cyanide heap leaching of open-pit ore, sold to refiners and bullion banks as feedstock for refined gold and silver production.
- Silver by-product Silver recovered as a co-product from the cyanide heap-leach circuit and contained within the gold-silver doré alloy sold to refiners.
Companies that use Veladero
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Veladero technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Veladero partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship, minor and core.
- Energía Provincial Sociedad del Estado (EPSE)flagshipGovernment energy company executing the Iglesia Community Solar Park project with USD 10 million investment from Veladero's Fase 6 trust fund. Project will provide 100% of Iglesia's electricity demand through 8.5 MWp solar installation with 32 MWh battery storage.
- FeyRominorLocal company from Iglesia that executed dismantling work on old construction camp, employing 20 people from the community as part of circular economy initiatives.
- LineCorpcoreBarrick-owned energy transmission company managing the Libertadores high-voltage power line project supplying electricity to Veladero from Chile's grid with significant renewable energy content.
- Barrick Gold Corporationcore50% joint venture partner in Veladero mine since operations began in 2005. Barrick provides operational expertise, management, and global mining industry resources.
- Shandong Gold Groupcore50% joint venture partner in Veladero mine since operations began in 2005. Chinese mining company providing capital and operational partnership.
Scale indicators11 records
Recent moves8 records
Expansion highlights4 records
Veladero competitors and assessment
Company assessmentDirect peers
- Kinross Gold Corporation: Mid-to-large cap gold producer operating open-pit mines in the Americas (including Brazil and Chile) and West Africa. Comparable to Veladero in primary gold focus, South-American operating exposure, and reliance on heap-leach/processing routes with similar ESG and community-licence considerations.
- Newmont Corporation: The world's largest gold mining company, with a globally diversified portfolio of open-pit and underground gold operations. Highly comparable to Veladero as a large-scale primary gold producer that sells doré/refined gold into global markets, shares similar ESG and community-relations challenges, and pursues similar ISO/HMS-style sustainability frameworks.
- Gold Fields Limited: Major gold producer with operations across Africa, Australia, and the Americas. Directly comparable to Veladero in open-pit gold mining, doré production, large workforce per mine, and pursuit of international sustainability certifications and net-zero commitments.
- Agnico Eagle Mines: Senior North-American gold producer with multiple large open-pit and underground mines producing ~3 million oz/yr. A direct comparable to Veladero in product (gold doré), operating model (JV and wholly owned assets), and focus on long-life, ESG-certified operations with community-engagement programs.
- AngloGold Ashanti: Global gold major with operations in Africa, the Americas, and Australia. Highly comparable to Veladero in producing gold doré, running large open-pit mines with significant local employment, and prioritising international sustainability certifications and stakeholder engagement.
- First Majestic Silver: Mid-cap silver-and-gold producer with primary operations in Mexico. Comparable to Veladero in silver-bearing doré production, mid-to-large open-pit/underground mining footprint, and focus on traceability and ESG reporting for institutional investors.
- Coeur Mining: Mid-cap North American silver-and-gold miner with operations across the US, Mexico, and Canada. Comparable to Veladero in producing silver-rich doré, operating open-pit/underground mines, and pursuing third-party ESG certifications and renewable-energy transition projects at mine sites.
- Pan American Silver: Major silver-and-gold producer with mines across the Americas, including Argentina. Directly comparable to Veladero in producing silver-bearing doré, running high-altitude open-pit operations, and operating in jurisdictions with similar community and ESG dynamics.
Regional players
- Hochschild Mining: Peru-based precious-metals miner producing gold and silver from underground and open-pit operations in the Andes. Closely comparable to Veladero in Andean high-altitude context, silver-gold doré output, and the need for strong community relations and ESG credentials, even though it primarily operates in Peru rather than Argentina.
- Compañía de Minas Buenaventura: Peru's largest publicly-traded precious-metals miner, with controlling stakes in large Peruvian gold and silver mines. Comparable to Veladero in Andean geography, gold/silver doré production, JV ownership structures, and reliance on community relations and ESG programs to maintain licence to operate.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Veladero social profiles
Digital presenceVeladero compliance and trust
Trust signalCompliance5 records
Veladero financial estimates
Financial estimateRevenue estimate
Valuation estimate
Veladero leadership team
Management profileNumber of profiles
Profiles1 record
Veladero subsidiaries and ownership
Company hierarchySubsidiaries1 record
Veladero funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Veladero M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Veladero
What does Veladero do?
Veladero is an open-pit gold and silver mining operation located at high altitude in San Juan Province, Argentina. It uses cyanide heap leaching to extract precious metals from ore and produces gold-silver doré bars for sale to refiners. The operation has been producing since 2005 and targets approximately 400,000 ounces of gold per year.
Is Veladero a public or private company?
Veladero is a private company. It is classified as corporate owned and is currently operating.
When was Veladero founded?
Veladero was founded in 2005. It employs 1,001 to 5,000 people.
Where is Veladero based?
Veladero is headquartered in San Juan, Argentina, in the Latin America region.
How does Veladero make money?
One revenue line is on record: gold and Silver Production.
Who are Veladero's main competitors?
Direct peers on record are Kinross Gold Corporation, Newmont Corporation, Gold Fields Limited, Agnico Eagle Mines, AngloGold Ashanti, First Majestic Silver, Coeur Mining and Pan American Silver. Regional players are Hochschild Mining and Compañía de Minas Buenaventura.
Does Veladero have an API?
No public API is recorded for Veladero.
What industry is Veladero in?
Veladero's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAEAB, Silver Mining. Its NAICS code is 21229 and its SIC code is 1040.