Construction commences on Nord Gold Russian Gross mine
Nord Gold, the internationally recognised low cost gold producer, has announced that it has started work on it’s open-pit heap Gross Mine, in Yakutia, Russia.
The mine is part of the Gross project, an extensive exploration programme that has uncovered proven and provable Gold of up to 4.4 moz as of December 2015. The mine is expected to produce up 230 ounces of gold per year, with the first gold earmarked for 2018.
Nikolai Zelenski, CEO of Nordgold, said: “Gross is a financially compelling, high-return project that has been significantly de-risked through an extensive feasibility study and two-year pilot-testing phase, giving us confidence in our ability to deliver the project at a modest capital cost.
“We fully expect construction at Gross to be completed on schedule and within budget. All of our development projects are very capital efficient, competitively positioned at the low end of the cost curve and we expect to generate robust returns for Nordgold shareholders.”
The Gross mine will provide up to 350 construction jobs and 800 permanent mining jobs over its 17 year mine life.
source: miningglobal.com
Latest Posts
Popular Post
- What Are The Major Natural Resources Of Macedonia?
- Reservoir Minerals copper exploration project halted by Macedonia Gevgelija local authorities
- $700 million invested by Vallex Group in Armenia’s mining industry over past two decades
- Mine waste failures and tailing spills in Serbia
- Ariana Resources at Kiziltepe gold mine in Turkey still mining strongly with record level of ore production
- Uzbekistan completes copper mine expansion project
- Dundee reports record gold production in second quarter in Bulgaria
- Turkey gold exploration project promotes AU Mariana Resources junior mining Co
- UK Mineco lead zinc Mine Gros marks 2018 record production and announces 2019 investment
- Macedonia Valandovo local community mobilizes against copper mine exploitation