NEWS ROUNDUP — IG ponders expansion in Myanmar

Singapore-based Indochina Goldfields (ING-T) is investigating the possibility of expanding the S&K copper mine in Myanmar.

The company says it would cost US$7.5 million to boost production by about 40% at the open-pit, solvent-extraction electrowinning operation.

The mine opened early this year, and after its first 90 days, production had totalled 13.6 million lbs. of LME Grade A copper cathode for total minesite cash costs of US24 cents per lb., inclusive of royalties.

To date, more than 3 million tonnes averaging more than 0.9% copper have been placed on the leach-pad. Daily copper production now exceeds the annualized design rate of 25,000 tonnes of cathode.

S&K is owned equally by Indochina Goldfields and a state-owned mining company.