(COMTEX) Refugio gold mine receives US$71mil investment ( El Diario/SABI )
Chile, Dec 10, 2003 (El Diario/SABI via COMTEX) -- Canadian gold mining
companies Kinross Gold and Bema Gold, together with Compania Minera Maricunga,
the Chilean mining company, have decided to resume operations at the Refugio
gold mine, in the III Region. The partners have invested US$71mil in the project
and expect the mine to be operational by the end of 2004. They want to increase
the mine's daily processing capacity by 25% from 32,000 m tons to 40,000 m tons.
Plans also involve a new pit (Pancho) with a processing capacity of 35,000 m
tons per day, which will extend the mine's life by a further ten years. The mine
is expected to produce between 230,000 and 260,000 ounces of gold per year. The
decision to invest in the mine was based on increasing international gold
prices.
Copyright (c) 2003, South American Business Information, All rights reserved.
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INDUSTRY KEYWORD: Gold & Silver Ores
EVENT: Strategy and Planning
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