PRECIOUS METALS

Eldorado declares commercial production at Lamaque

Quebec mine to add 100,000-110,000oz to Eldorado's production profile in 2019

Staff Reporter
Eldorado Gold's Lamaque mine in Quebec has declared commercial production

Eldorado Gold's Lamaque mine in Quebec has declared commercial production

Eldorado gained control of the mine through its acquisition of Integra Gold in July 2017.

The initial mine plan covers seven years, with 100,000-110,000oz gold expected for Eldorado's account this year. That will increase to between 125,000-135,000oz in 2020 and 2021.

"We are proud to announce the achievement of this important milestone just over 18 months after acquiring this asset," COO Paul Skayman said.

Eldorado believes there is significant exploration upside present at Lamaque and it has budgeted to undertake 37,000m of drilling in 2019 as it looks to fill the excess capacity of the associated refurbished Sigma mill.

Eldorado, with a market capitalisation of C$929 million, plans to release its March-quarter results after the market closes on May 2.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.