Veladero

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.

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

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

• Gold mining
• Silver production
• Heap leach extraction
• Open-pit mining
• Doré bar production

Headquarters

HQ city

San Juan

HQ country

Argentina

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Others

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core 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.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship, minor and core.

• Energía Provincial Sociedad del Estado (EPSE)flagshipStrategic or Co-development Partner · 1 January 2026Government 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.
• FeyRominorImplementation/ SI/ Consulting Partner · 1 January 2025Local company from Iglesia that executed dismantling work on old construction camp, employing 20 people from the community as part of circular economy initiatives.
• LineCorpcoreTechnology or Integration · 1 January 2022Barrick-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 CorporationcoreStrategic or Co-development Partner · 1 January 200550% joint venture partner in Veladero mine since operations began in 2005. Barrick provides operational expertise, management, and global mining industry resources.
• Shandong Gold GroupcoreStrategic or Co-development Partner · 1 January 200550% 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

Direct 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

• Xx.com/minaveladero
• Facebookfacebook.com/MinaVeladero
• LinkedInlinkedin.com/company/veladero

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veladero