Production for the first half of the year at the Con and Giant mines in Yellowknife, N.W.T. was up significantly over last year. Miramar Mining (MAE-T) attributes this to modifications to the mining method and to better performance in the mill.
The two mines produced 65,937 oz. in the first six months of 2001, compared with 56,202 oz. in the first half of 2000. Cash costs during the period were US$258 per oz., down from US$276 in the first half of 2000.
During the second quarter, the operation shipped 36,760 oz. gold. It produced 32,720 oz. from 66,579 tonnes of ore from Con and 17,125 tonnes from Giant. Millhead grade from both mines was 13 grams per tonne.
Increased use of cut-and-fill mining at Con, which is replacing longhole mining, was credited with a substantial improvement in millhead grades. Better performance from the autoclave increased recoveries in the mill.
The unified operation had a free cash flow of $1.5 million during the quarter, even though Miramar has begun remediation work at Con to treat arsenic-bearing sludges from the historic operation.
Miramar bought Giant from the Department of Indian Affairs and Northern Development when the receivers of defunct Royal Oak Mines returned the mineral property to the Crown. The mine is to go back to the department in December. The company and the government are negotiating to see if the operations can be maintained.
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