TORONTO (miningweekly.com) – Primero Mining is targeting production of around 200 000 gold-equivalent ounces by 2013 at its San Dimas mine, in Mexico, an increase of almost 100% compared with 2010, the firm said on Monday.
The company produced 100 500 oz last year, after production increased to 24 700 oz in the fourth quarter, mainly because of more ore having been mined.
The mine produced 21 700 oz in the previous three months, although Primero only took finlay 1540 cone crusher specifications crusher mining processownership of San Dimas on August 6, after buying the asset from Vancouver-based Goldcorp.
"We are pleased copper ore crusher indonesia crusher mining processwith the company's operating performance in the fourth quarter," CEO Joseph Conway said in a statement.
This year, Primero intends mobile cone crusher on trailor stone crusher indiato increase development spending by 50% and will double exploration spending, and expects gold-equivalent production will rise 15%, as it mines higher gradesindia crusher company stone crusher india, Conway said.
Production this year is forecast at between 110 000 and 120 000 gold-equivalent ounces, at cash costs of between $550 and $570 per gold equivalent ounce.
As the the company continues to receive positive drilling results from the high-grade Sinaloa Graben zone, Primero now expects to expand the San Dimas mill from 2 100 t/d to 2 500 t/d duing 2012.
“The full impact of the Sinaloa Graben discovery will not be seen until 2012 and 2013,” Conway said, referring to 2011 as a “transition year”.
The mill ran at an average of 1 840 t/d in the fourth quarter, but throughput increased steadily over the three months to an average of 2 100 t/d in December.
“Now we have established that the mill can successfully operate at capacity it allows us to concentrate on increasing underground development at the mine," commented executive vice-president Eduardo Luna.
The firm has budgeted $31-million for capital expenditure this year, 75% of which will be spent on underground development and exploration drilling.