https://elcomercio.pe/economia/negocios/rio-alto-retraso-proyecto-shahuindo-hasta-2016-noticia-1747953
WEDNESDAY 06 AUGUST 2014 | 13:52
Rio Alto Shahuindo start production in 2016
Mine will produce 100,000 ounces of gold annually, but its new owner plans to triple its processing capacity
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Rio Alto Shahuindo start production in 2016
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Rio Alto Mining rescheduled the production start of its newly acquired Shahuindo project in Cajamarca end of 2015 or early 2016, while integrating the operations of this property with its mine La Arena (La Libertad).
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This was reported yesterday, after closing the purchase of the junior Sulliden Gold (initial owns Shahuindo) at a value of approximately US $ 275 million operation.
Shahuindo should start production this year, but is delayed because Sulliden not moved forward with the construction work. The lack of capital to develop the project (US $ 130 million) forced him to sell to Rio Alto.
This company will dedicate a few months to assess key points of the project. Its purpose is to generate synergies with its mine Arena and try an expansion in Shahuindo after its launch.
"The similarities and proximity of Shahuindo to our mine Arena will allow us to leverage the skills of our operational and management teams and now we have completed the transaction, we will focus our efforts on increasing oxide reserves at La Arena and build Shahuindo" he said Alex Black, President and CEO of Rio Alto.
Canadian estimates produce 100,000 ounces of gold in Shahuindo since 2016, before enlargement devote herself to her, tripling the design capacity of the plant, 10,000 tons per day to 30,000 tons per day.
Rio Alto will produce 200 thousand or 220 thousand ounces of gold at The Arena in 2015-2016. The combined production of the two operations will be 300 thousand ounces, approximately.
After being acquired, Sulliden delist its shares on the Toronto Stock Exchange and the Lima Stock Exchange. That will happen in the next two to three days.
This news is of 2014 to where it is that atualmente Taho is raising its production at its mines in Peru