Lundin Gold Fruta del Norte Mine Output Hit Peak

SEATTLE (Scrap Monster): Lundin Gold Inc. announced gold output details for Q4 and full-year 2020.

According to company press release, the output from its Fruta del Norte gold mine in Ecuador totalled 96,830 ounces in the fourth quarter of 2020. During the quarter, the mill processed nearly 337,000 tonnes at an average throughput of 3,665 tonnes per day. The mine produced 191,080 ounces since it restarted operations in July. The cumulative mine output during the entire year stood at around 242,000 ounces. It must be noted that the mine had reached commercial production in March last year.

The company reiterated its goal to optimize the operations of the mine. The proposed $18.6 million expansion project is expected to lift the throughput from 3,500 to 4,200 tonnes per day over the mine’s lifetime. The gold production from the mine in 2021 is likely to range between 380,000 and 420,000 ounces of gold at all-in sustaining costs of $770-830 per ounce.

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Ron Hochstein, Lundin’s president and CEO said that he is proud of the operational result achieved by the Fruta del Norte team, especially during the challenging time. The company exceeded the upper end of its gold production guidance of 170,000 ounces in H2 2020.