Lundin Gold about to transition from developer to producer
Vancouver-headquartered developer Lundin Gold is about to transition to a producer, with the Fruta del Norte project, in Ecuador, set to deliver its first gold before the end of this year.
The company has reaffirmed its production goal for the current quarter, after protests last month temporarily impacted on the movement of supplies and personnel to the project site.
The 310 000-oz/y Fruta del Norte will achieve commercial production in the second quarter of next year, Lundin Gold reported in its September quarter results announcement on Friday.
However, two permits are required before operations could begin and the company said that it expected to receive them “shortly”.
Lundin stated in its quarterly report that overall construction was about 89% complete, underground development was ahead of projections and that about 148 000 t of ore had been stockpiled by the end of September.
“I want to congratulate our team on achieving two major project milestones: hot commissioning of the process plant is under way and the recent energisation of the powerline,” said president and CEO Ron Hochstein.
The process plant wet commissioning started early in the third quarter and hot commissioning began towards the end of the quarter with first ore put through the grinding mills on September 27.
Lundin said that hiring for operations continued to progress on plan with less than 100 positions open at quarter-end, with the majority expected to be filled from existing project staff.
At the end of September, about 46% of the company’s employees and 45% of all workers, including contractors, were from the Zamora Chinchipe province.
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