Royalty company Euro-Nevada Mining (EN-T) has paid A$7 million for a 20% interest in the New Celebration gold mine, which lies in the heart of Australia’s Kalgoorlie-Kambalda gold camps.
The mine, including a 1.6-million-ton-per-year plant and associated 122,000-acre land package, is 80%-owned and operated by Newcrest.
During the first six months of this year, the mine produced 92,600 oz. gold.
Production last year topped 120,000 oz. An exploration budget of A$4.1 million is planned for the coming year.
Euro-Nevada holds royalty properties in numerous gold districts throughout the world, including a 50% interest (with sister company Franco-Nevada Mining) in the Midas gold project in the northern Carlin trend of Nevada.
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