- Write by:
-
Tuesday, July 13, 2021 - 22:56:56
-
492 Visit
-
Print
Mining News Pro - Fruta del Norte operation. (Image courtesy of Lundin Gold).
Canada’s Lundin Gold (TSX:LUG) has reported record gold production for the second quarter of 2021, only sixteen months after its Fruta del Norte gold-silver mine in Ecuador, the country’s largest, kicked off commercial operations.
The Vancouver-based miner delivered 108,799 ounces of gold in the three months to June 30, of which 66,721 ounces were produced as a concentrate and 42,078 ounces as doré.
The mill processed roughly 346,561 tonnes at an average throughput rate of 3,808 tonnes per day, the average grade of ore milled was 11.08 grams per tonne, and average recovery was 88.2%.
President and CEO Ron Hochstein said that, once again, the figures exceeded projected production.
“I am very happy with the results achieved during this first of half of 2021. Both the mine and mill are performing remarkably well, and we are firmly on track to meet our 2021 guidance of 380,000 – 420,000 oz of gold produced,” he said.
Lundin recently increased Fruta del Norte’s reserves by 8% to 5.41 million ounces, due to changes in the planned mining method.
Based on the new figures, it now expects to produce almost 4.8 million ounces of gold at Fruta del Norte over a 14-year mine life.
The company acquired the project in 2014 for $240 million from fellow Canadian miner Kinross Gold (TSX:K) (NYSE:KGC), which had to halt operations after being unable to reach an agreement with authorities regarding the terms for developing the asset.
The underground gold and silver mine, discovered in 2006, contains six of Lundin’s 29 mining concessions in Ecuador and covers 70,000 hectares of land.
Located in southeastern Zamora Chinchipe province, the 70,000-hectare Fruta del Norte is considered one the largest and highest-grade gold projects in the world currently in production.
Short Link:
https://www.miningnews.ir/En/News/614964
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
No comments have been posted yet ...