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
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