SEATTLE (Scrap Monster): Alamos Gold announced initial gold production from the La Yaqui Grande mine in Mexico. The company had completed construction of the mine earlier this month, ahead of schedule. A total of 991 ounces of gold were produced from the initial pour.
A ceremony to mark the occasion was held at the mine site, which was attended by Alamos Gold President and Chief Executive Officer John A. McCluskey, members of the company’s Board of Directors, and employees from the La Yaqui Grande mine.
The construction project was first announced in July 2020. The construction phase generated more than 1,000 jobs. The project is expected to extend the mine life for at least five years and continue to support nearly 450 direct jobs. La Yaqui Grande is expected to record a production of approximately 3,000 ounces of gold during this month. The stacking rates at the mine are expected to ramp up during the second half of the year.
John A. McCluskey said that the company made a significant achievement by completing the construction ahead of schedule, while navigating the challenging Covid-19 environment. The higher grades and recoveries at the mine will drive production at lower costs, thus ensuring boosted cash flow in the second half of the current year and beyond, he added.