Theft of $1 Million in Gold Suspends Argentina Mine Project

Thieves heisted about $1 million of gold from a mining project in southern Argentina run by Vancouver-based Patagonia Gold Corp.

(Bloomberg) — Thieves heisted about $1 million of gold from a mining project in southern Argentina run by Vancouver-based Patagonia Gold Corp.

Thieves broke into the gold room at the company’s Cap-Oeste Project in the province of Santa Cruz in the early hours of April 17 and escaped with about 500 ounces of gold, the company’s CEO Christopher van Tienhoven said in a statement.

The robbery represents about one month of production from the company’s Lomada and Cap-Oeste mining projects. The company has suspended production pending an investigation and as it implements additional security measures.

Gold was trading at $1,995 an ounce Monday.

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