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Article: NEWS BRIEFS
- Article from:
- Mining Engineering
- Article date:
- February 1, 2004
- Author:
CopyrightCopyright Society for Mining, Metallurgy, and Exploration, Inc. Feb 2004. Provided by ProQuest LLC. (Hide copyright information)
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Gold Fields has signed an agreement with the Gubbins family to buy a 92-percent interest in Peru's Cerro Corona gold-copper property. The purchase would give the South African company its first project in South America.
Gold Fields said the $115-million Cerro Corona operation is capable of producing 4.6 t/a (147,000 oz/year) of gold and 29.5 kt/a (65 million Ibs/year) of copper at a total cost of $6.81/g ($212/oz) gold equivalent. Proven and probable reserves at Cerro Corona currently stand at 65.2 Mt (71.9 million st) with an average grade of 1.14 g/t (0.033 oz/st) gold and 0.61 percent copper.
Coeur d'Alene Mines said it has obtained the financing it needs to begin construction of the ...