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Gold/Mining/Energy : Century Mining Corporation

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From: John McCarthy	5/5/2006 6:29:49 PM
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GFI to sell Peru gold to Japan 05/05/2006 11:25 AM Lima - South Africa's Gold Fields has begun construction of its $227 million Cerro Corona gold and copper project in Peru and aims to send concentrates to Japan, South Korea and Germany from October 2007, the company said on Thursday. The mine, which has a 15-year life, should help the world's fourth-biggest gold producer move closer to its goal of adding 1.5 million ounces of output outside South Africa by 2009. "Construction started this month. We're moving dirt," Richard Graeme, general manager of Gold Fields SA Peru, told delegates at a gold mining conference in Lima. The mine in northern Peru is expected to produce 4.5 million of equivalent gold ounces over its life span and has reserves of 94 million tons with a grade of 1 gram of gold per ton and 0.5% copper, Graeme said. He added that production would be strongest in the first few years of operation before dropping down slightly. Peru is the world's No. 5 gold producing nation. fin24.co.za

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