LATIN AMERICA ROUNDUP — Kori Kollo gold mine producing

The Kori Kollo mine, owned by Inti Raymi, became fully operational in March, reports Battle Mountain Gold (NYSE) of Houston, Tex. Battle Mountain holds an 85% equity interest in Inti Raymi, its Bolivian subsidiary.

The deposit, near Oruro, Bolivia, has proven and probable reserves of nearly 71.5 million tons grading 0.066 oz. gold per ton. (It also contains more than 29 million oz. silver.)

This year, Battle Mountain hopes to net 153,000 oz. gold from the operation at a cash cost of US$175 per oz.

The ore is refractory and occurs in a sulphide-rich zone beneath a shallow oxide cap. Initial production is slated at 245,000 oz. per year. However, the company is investigating ways of improving physical and metallurgical recovery with a goal of increasing production to 300,000 oz. in 1994. Development costs, including financing, were about US$143 million.