Ecuador Resources

[Lone Clone]

Lundin Gold: Fruta del Norte’s first gold only months away

https://www.miningweekly.com/article/fruta-del-nortes-first-gold-only-months-away-2019-08-13

13th August 2019

By: Creamer Media Reporter

The first gold pour from the Fruta del Norte mine that Vancouver-based Lundin Mining is building in south-east Ecuador is only months away, with the mine forecast to deliver its first gold next quarter.

Overall construction at the Fruta del Norte site is about 78% complete and the project remains on schedule and on budget, Lundin Gold president and CEO Ron Hochstein has affirmed.

“Contractor underground development is nearing completion with owner's crews ramping up, and production stopes are now being mined,” he says.

During the current quarter, Lundin will complete three major surface projects, including the process plant, the 42 km power line connecting the project to the national grid and the tailings storage facility.

The first gold pour remains on schedule for the fourth quarter.

The $692-million Fruta del Norte project will be Ecuador’s biggest gold mine, producing an average of 310 000 oz/y at a projected all-in sustaining cost of $583/oz.