Cameco’s Boroo on-stream

Cameco‘s (CCO-T) 53.2%-owned Boroo gold mine, 110 km northwest of Ulaanbaatar in Mongolia, has started commercial production.

The open-pit operation is owned and operated by Boroo Gold, an indirect subsidiary of Australian-based AGR. Cameco’s gold division holds a 56% interest in AGR.

In 2004, Boroo is projected to produce 210,000 oz. at a cash cost of US$170 per oz. Probable reserves stand at 1.16 million oz. with an average grade of 3.5 grams gold per tonne, based on a gold price of US$325 per oz. Exploration continues.

The mine is valued at US$75 million (almost double original estimates, owing to the decision to use a mine-owned fleet instead of contractors).

The operation is expected to run until at least 2009.

Altai Trading, a Mongolian investment company, owns the remaining 5% of Boroo.

Print

Be the first to comment on "Cameco’s Boroo on-stream"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close