Construction of the Refugio gold mine in Chile is six to eight weeks ahead of schedule.
Partners Bema Gold (TSE) and Amax Gold (NYSE) began construction in November, 1994, under a fixed-price contract, and startup is now scheduled for late 1995.
Envisioned is an open-pit, heap-leach operation capable of treating 30,000 tonnes per day. Annual production is estimated at 233,000 oz., and the operating cost during the initial 9.4-year mine life would be US$208 per oz.
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