Minas Argentinas

What Minas Argentinas does

Minas Argentinas S.A. is an Argentine gold mining company that operates the Gualcamayo mine in Jáchal, San Juan Province. The asset has been producing since 2009 and is currently generating output via secondary recovery from existing leaching piles as the open-pit reserve base matures. The company employs more than 1,500 people, of which 97% are recruited from San Juan, and operates one of the first Pressure Oxidation (POX) plants in South America, a metallurgical capability that enables treatment of refractory gold ores that conventional leaching circuits cannot process economically.

The core forward strategy is the Carbonatos Profundos (DCP) underground project, which targets production of 120,000 ounces of gold per year for 17+ years starting in 2029, backed by a measured resource base of 4.8M+ ounces (with 7.1M ounces of historical geological potential and only 4% of the geological potential explored). The project is approved under Argentina's RIGI investment incentive regime, securing tax, customs, and currency guarantees for a USD 665M+ initial investment within a USD 1B total investment plan and a 30-year development horizon.

Beyond gold, Minas Argentinas is diversifying into industrial lime production to supply copper and lithium mining customers in Argentina and Chile, and is building a renewable-energy platform anchored by a 50 MW solar park with an explicit roadmap to scale to 800 MW. The company is privately held by Aisa Group (acquired 2023), holds ISO 14001, ISO 45001, and ICMI Cyanide Code certifications, and was the first Argentine mining company to report under the GRI 14 sustainability standard. Revenue is generated primarily through gold sales into international commodity markets.

Name

Minas Argentinas

Legal name

Minas Argentinas S.A.

Website

https://minasargentinas.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Minas Argentinas is an Argentine gold producer operating the Gualcamayo mine in San Juan, privately held by Aisa Group, expanding into the Carbonatos Profundos underground project, industrial lime, and solar energy.

Ownership category

akta.pro rank

Product category

Gold Mining

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Gold mining operations
• Precious metals extraction
• Industrial lime production
• Mineral exploration services
• Renewable energy generation

Headquarters

HQ city

San Juan

HQ country

Argentina

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Gold Production and Export: Primary revenue from gold mining operations. Production is concentrated on secondary recovery from leaching piles. Final product is doré bars (bullión) containing gold and silver, exported entirely for refining and commercialization abroad.
2. Industrial Lime Sales (Future): Planned production of high-purity industrial lime from limestone deposits using Maerz kilns. Target markets include copper mining, Chilean mining operations, and Argentine lithium production in the north.
3. Solar Energy Sales (Future): Planned sale of solar energy to the National Interconnected System (Sistema Interconectado Nacional) through a 500 kV transmission link. Initial 50 MW capacity, scaling to 800 MW.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Minas Argentinas operates the Gualcamayo gold mine in Jáchal, San Juan, Argentina, producing doré bars (gold and silver alloy) for export to international refineries. The company is developing the Carbonatos Profundos (DCP) underground project to extend mine life by 30+ years, and is diversifying into industrial lime production and a 50-800 MW solar park to supply the national grid.

Product overview

Minas Argentinas operates the Gualcamayo gold mine and is developing the Proyecto Carbonatos Profundos (DCP) as its core strategic initiative — an underground mining project beneath former production zones that will extend mine life by decades. The company also offers industrial lime production through its Cales Industriales project and renewable energy via its Fotovoltaico solar park project. The product portfolio centers on gold mining with secondary recovery operations, supported by diversification into industrial lime for the regional copper and lithium mining sectors, and clean energy generation for self-consumption and national grid export.

Differentiator

Problem solved

Functional benefit

Brands

• Carbonatos Profundos (DCP): Deep carbonate gold project located beneath former production zones at Gualcamayo, representing the core of the new 30+ year development plan with 4.8+ million oz gold resources.
• Cales Industriales
• Parque Fotovoltaico

Products and services

• Mina Gualcamayo Gold mine located in Jáchal, San Juan, Argentina, producing doré bars (gold and silver alloy) for export to international refineries. The operation currently focuses on secondary recovery from leaching piles.
• Proyecto Carbonatos Profundos (DCP) Underground gold mining project located beneath former production zones at Gualcamayo, featuring more than 4.8 million ounces of certified gold resources. Planned annual production of 120,000 ounces over a minimum 17-year period, utilizing pressure oxidation (POX) technology for processing complex refractory ores.
• Producción de Cales Industriales

Quantifiable outcome

• 1,500+ direct jobs created during construction phase
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Hochschild Mining: Latin American precious metals miner with gold and silver operations across Peru, Argentina, and Chile. Comparable for regional Latin American focus and underground precious metals mining expertise relevant to the DCP project.
• Newmont Corporation: Largest gold mining company globally with diversified operations across the Americas. Comparable as a major incumbent in gold mining with extensive operational, processing, and capital project expertise applicable to Minas Argentinas' business model.
• Barrick Gold: World's largest gold miner with diversified global operations including the Veladero JV in Argentina. Comparable as a major gold producer with established presence in the same Argentine jurisdiction and similar refractory ore processing expertise.
• Pan American Silver: Major precious metals producer with significant operations in Latin America including Argentina. Comparable for gold/silver doré production model and Latin American jurisdictional exposure relevant to Minas Argentinas.

Direct peers

• Equinox Gold: Multi-asset gold producer with operations across the Americas including Brazil and Mexico. Comparable for mid-tier gold producer profile and Americas-focused operations in similar mining jurisdictions.
• Cerro Vanguardia (AngloGold Ashanti): AngloGold Ashanti's Cerro Vanguardia mine is a gold and silver operation in Santa Cruz province, Argentina. Directly comparable as another Argentine gold producer using open-pit methods and exporting doré bars internationally.
• IAMGOLD: Mid-tier gold producer with operations in the Americas and West Africa. Comparable for mid-scale gold mining operations and similar resource base/revenue scale profile to Minas Argentinas.
• Aura Minerals: Mid-tier gold and copper producer focused on Latin American operations. Comparable for regional Latin American mining exposure and mid-scale multi-asset producer profile relevant to Minas Argentinas.
• Veladero (Barrick Gold / Shandong Gold JV): Veladero is a major open-pit gold mine in San Juan province, Argentina, jointly owned by Barrick Gold and Shandong Gold. Closest geographic and operational peer given shared San Juan location and similar open-pit gold mining model.
• McEwen Mining: Mid-tier gold and silver producer with operations in the Americas including Argentina. Comparable for similar scale gold/silver producer profile and Argentine jurisdictional exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/minagualcamayo
• LinkedInlinkedin.com/company/minas-argentinas-s-a
• Instagraminstagram.com/minagualcamayo

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

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 Minas Argentinas