# Mining and energy activity in Santa Cruz

> Live situation record from CLSTR: https://clstr.news/situations/mining-industry-activity-in-santa-cruz
> Updated: 2026-10-20T22:18:17.000Z. Sources: 5. Developments: 3.

The mining sector in Santa Cruz, Argentina, continues to show financial growth and expanded exploration. Minera Santa Cruz S.A., operating the San José gold and silver deposit, reported a 48.8% increase in revenues to $436.5 million and a net profit surge of approximately 173%, totaling $97.6 million for the 2025 period.

In the Deseado Massif region, Cerrado Gold has initiated a 5,000-meter drilling program for the Falcon project through its subsidiary, Minera Don Nicolás. This exploration covers roughly 20,026 hectares near the Las Calandrias leaching operations to evaluate mineral resource volumes. Following these developments, the Santa Cruz State Secretariat of Mining conducted a technical inspection of the Minera Don Nicolás complex, including the Falcon exploration area, the Calandrias leaching pad, the tailings dam, and the La Paloma underground mine, to verify operational safety and regulatory compliance.

Additionally, in the energy sector, Governor Claudio Vidal supervised the launch of a USD 7.27 million drilling campaign by Crown Point Energía in the San Jorge Gulf Basin. This program involves drilling three wells across Koluel Kayke and Piedra Clavada to develop existing reserves and explore the D-129, Mina del Carmen, and Caleta Olivia formations.

## Claims

- Crown Point Energía is launching a drilling campaign with an estimated investment of USD 7.27 million. (corroborated by 2 sources)
- The drilling program involves the execution of three wells in Koluel Kayke and Piedra Clavada. (corroborated by 2 sources)
- Well KK-2003 will explore the D-129 formation. (corroborated by 2 sources)
- Governor Claudio Vidal supervised the start of the drilling campaign in the San Jorge Gulf Basin. (corroborated by 2 sources)
- The Santa Cruz State Secretariat of Mining inspected the Minera Don Nicolás complex. (single source)
- The mining inspection included the Falcon exploration area and the La Paloma underground mine. (single source)

## Timeline

### 2026-10-20: Santa Cruz authorities inspect mining and energy operations

Santa Cruz officials inspected Minera Don Nicolás's mining facilities and supervised Crown Point Energía's USD 7.27 million drilling campaign in the San Jorge Gulf Basin.

3 sources. https://clstr.news/cluster/santa-cruz-authorities-inspect-mining-and-energy-operations

### 2026-10-13: Mining sector in Santa Cruz sees profit growth and new exploration

Mining in Santa Cruz, Argentina, is seeing major developments, with Minera Santa Cruz reporting a 173% profit surge and Cerrado Gold launching a new drilling campaign for the Falcon project.

4 sources. https://clstr.news/cluster/mining-sector-in-santa-cruz-sees-profit-growth-and-new-exploration

### 2026-10-06: Crown Point Energía to drill three new oil wells in Santa Cruz

Crown Point Energía will invest over $7.2 million in three new oil wells in Santa Cruz, Argentina, aiming to produce 90 cubic meters of oil daily and create up to 90 jobs.

2 sources. https://clstr.news/cluster/crown-point-energa-to-drill-three-new-oil-wells-in-santa-cruz

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Cite as: Mining and energy activity in Santa Cruz. CLSTR, https://clstr.news/situations/mining-industry-activity-in-santa-cruz