Gold is mainly produced as byproduct from the many copper mining operations that form the backbone of the country's mining industry. According to the most recent estimates, Chile currently produces under 1.5 million ounces of gold per year, pushing it out of the top ten gold producers in the world. However, there are several new gold mining operations being explored and developed by crushing and grinding today.

Chile's gold production remained constant at 39 000 t in 2003, making it Latin America's 3rd largest producer. Gold is produced a by product of several copper mining operations that form the backbone of Chile's mining industry. However, there are several new gold mining operations being developed - notably Barrick's Pascua - Lama - Veladero development along the El Indio Gold Belt on the border with Argentina. Construction is forecast to begin in late 2004.

Pascua - Lama has proven and probable reserves estimated at over 17 Moz gold and 525 Moz silver. Annual production is anticipated at 800 000 oz gold and 20 Moz silver, making it one of South America's largest gold mines.

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