Theft of US$1 million in gold suspends Argentina mine project

Thieves heisted about US$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 Santa Cruz Province 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 US$1,995 an ounce Monday.