- Write by:
-
Wednesday, December 2, 2020 - 1:16:57 PM
-
59 Visit
-
Print
Mining News Pro - Scotgold Resources has poured first gold at its Cononish mine, marking a significant milestone on the asset’s path to becoming Scotland’s first commercial gold and silver operation.
Zoom:
Mine production will ramp up to design level early next year, the company said, with a first phase output rate of 36,000 tonnes of ore per year and total gold production of 9,910 ounces in 2021.
Phase two of Cononish’s expansion aims to double ore production to 72,000 tonnes and lift output to 23,500 ounces of gold by May 2022.
Scotgold said in October it had found “encouraging” signs of more precious metals at project, which backed up the economics for phase two of the project. That stage, already fully funded, will cost £96 million ($129 million).
Historic area
Scotgold, which received initial approval for Cononish in 2018, has been working to reopen the abandoned gold mine near Tyndrum for 12 years.
The asset churned out gold in August 2016, following the launch of an ore processing trial. After the local authorities gave the project their blessing, the company began building a large-scale operation.
As many as 52 jobs could be created during production, and the firm has offered nearly £500,000 (about $612,000) in payments to support the nearby local community of Tyndrum.
The small village is currently a local tourist destination, known mostly for being at a junction of major transport routes.
Related News
Mining News Pro - The next three to six months will be crucial to the future of the vast Oyu Tolgoi copper-gold mine in Mongolia, as the companies behind the ...
Mining News Pro - Resolute Mining has poured 89,888 ounces of gold in the December quarter despite disruptions at the Syama gold mine in Mali.
Mining News Pro - Bardoc Gold has progressed its mid-tier aspirations after forming an agreement with MRI Trading AG to acquire the Bardoc project near Kalgoorlie in ...
Mining News Pro - Centerra Gold announced Thursday that its fourth quarter and annual gold output both exceeded the upper end of the company’s consolidated 2020 ...
Mining News Pro - The Tasmanian Government is aiming to grow its mineral resources sector with a $2.4 million upgrade to the Mineral Resources Tasmania Core Library ...
Mining News Pro - K92 Mining Inc. achieved record production of 29,820 oz AuEq (gold equivalent), or 28,809 oz gold, 493,584 lb copper and 10,395 oz silver, during ...
Mining News Pro - Gran Colombia Gold (TSX: GCM) churned out 220,194 oz of gold from its operations in Antioquia, Colombia, 180 km northeast of Medellin last year, ...
Mining News Pro - Amid falling exploration budgets across nearly all commodities, gold exploration remained steady in 2020, posting a 1% increase over 2019.
Mining News Pro - Gold-backed exchange-traded funds (ETFs) and similar products had what the World Gold Council (WGC) called “a remarkable year” in 2020, as gold ...