Business & Tech
Santee Company Secures Funds for Gold Mine in Chile
Casablanca Mining, with an office in Santee, plans to open its third mine in South America.
Santee-based Casablanca Mining holds majority ownership of a hard rock gold mining operation in Chile and recently signed a funding agreement to finish construction at the mine and begin extracting gold, according to a report by The San Diego Daily Transcript.
The 400 hectare Los Pinos mine, near the city of Rancagua in Chile, was in operation in the 1940s, closed due to a landslide, and rediscovered in the 1980s.
The company said they will begin operations at the mine in the fourth quarter of 2013.
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Casablanca Mining’s gold holdings now include three active mining and prospecting operations in Chile.
Read more details at The San Diego Daily Transcript
Find out what's happening in Santeefor free with the latest updates from Patch.
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