Gold Mining in Segovia Antioquia!

Segovia, Antioquia, Colombia is the historical gold center founded in the year 1775. Colombia has the longest and most productive history of gold exploitation in South America, dating from both the pre-Colombian period and Spanish colonial to recent times. About two-thirds of historic Colombian gold production has come from residual or alluvial mines, and has been extracted via crude artisan means utilizing a minimum of expense or technology. Segovia is located 200 km from Medellin, the capital city of Antioquia, Colombia. The population of Segovia is of 50,000. The gold industry has created more than 5000 jobs in this area for mining opportunities. The people have benefited by the production of gold and in fact 90% of the population of Segovia depends on mining.. A study completed reveals that this town has 145 registered mines with the necessary permits for development, but only 48% of these are active. A golden opportunity in the heartland of Colombia's Gold belt.

The real gold potential to be observed in modern-day Colombia is that which remains in the country’s relatively un-tapped hard rock or in situ resources, as observed throughout the Andean region of the country. The hard rock gold occurrences of Colombia exhibit a wide variety of forms and styles, the formation of which is primarily dictated by fundamental geologic (geo-tectonic, -chemical, and -structural) parameters, and the erosion level at which the mineral occurrence is exposed.

Colombia is endowed with a broad spectrum of gold deposit types spanning high-level "epithermal" silver-gold-zinc-copper-lead occurrences associated with partially eroded volcanic complexes and/or hypabyssal plutonic rocks (as seen in the Paramo de Frontino, or the historic Buriticá and Marmato-Echandía camps), to intermediate level "porphyry or intrusive" associated gold +/-copper-molybdenite-zinc occurrences which form interesting "bulk-mineable" deposits ( Murindo, Antioquia), to peripheral, structurally controlled, mesothermal high-grade "gold-only" vein deposits where grades averaging well over one ounce of gold per ton are common (the classic producing camps of Segovia-Remedios and La Bramadora are fine examples).

Colombian miners, both artesian and semi-modernized, continue to produce significant quantities of gold quantities averaging upwards of 950,000 declared troy ounces per year over the last fifteen years (Source: Banco de La Republica de Colombia).

Statue dedicated to the Gold Miners of Segovia, Antioquia

Frontino Gold Belt : Segovia Department of Antioquia, Colombia

Located in the heart of the richest Gold Belt in Colombia where 80 percent of the nation's gold is produced. Presently Colombia is producing 125 million ounces of high grade gold, South America's largest producer.

In addition to rich mineral deposits Colombia offers a favorable investment climate with legal and financial incentives for mining companies, protection for foreign investment and continued macroeconomic stability. Colombia has maintained a sustained growth rate, stable democracy and secure work environment. The country has seen 50 years of consistent growth and development, including a 6.8% economic growth increase in 2006. (CIA World Fact Book, updated June 2007)

Colombia is among South America’s largest recorded gold producers, yielding 125 million ounces. But because there has been minimal investment in the gold mining industry over the past thirty years, the country remains largely unexplored its vast resources relatively untapped. In 2006 Colombia produced 1.49 million ounces of gold with the majority of mines operated as a craft or artisan industry, capable of producing up to 200 tpd but typically only yielding 5-10.

The country’s principal gold producing regions are the Frontino Gold Belt (FGB) in the Segovia Department of Antioquia and alluvial gold operations at El Bagre in northern eastern or "Nodeste" Antioquia.

Frontino Gold Mines (FGM), located in the Frontino Gold Belt, is the country’s principal underground gold producer. Its 2008 production target was 50,000 oz. FGM has been in continual operation for over 150 years and currently produces from three underground mines near the town of Segovia, north east of Medellín, the principal city of Antioquia. Within the FGB numerous additional small mines exist, exploiting veins with similar characteristics to those at FGM.

There are proven multi-million ounce deposits of rich gold under Colombian soil. The country is the most-gold rich nation in South America. But it is also the most under-explored and under-developed. With the notable exception of Frontino Gold Mines-which has produced over 5 million ounces of gold in the Segovia area-the majority of local miners haven't had the funds or technology to sustain maximum production. Until recently, only about half of the 117 mines where Las Palmeras is located were being mined. All that has changed; with the price of gold reaching higher and higher price levels combined with the breakthroughs of mining technology modernizing these producing mines is profitable now.

<<< Back to first page