Eldorado Gold is establishing the Efemcukuru gold mine in Turkey. The company has the required permits to allow complete mining and processing functions and is presently feeding low-grade ore to the mill.
It is continuing the mining activities at the South Ore Shoot and has accumulated around 16,000 t grading 10.5 g/t gold at the plant location. Yearly, the Efemcukuru gold mine will produce 120,000 oz of gold at full production and the company is presently studying about the possibility to bring the production up to 150,000 oz annually.
The company has proclaimed that the Kisladag mine has reached a noteworthy milestone in May 2011 and has produced more than 1 Moz of gold since the commencement of the project in 2006.
The CEO and President of the company, has stated that Eldorado expresses thanks to the employees of Canada and Turkey for these two achievements. The keystone of the company is Kisladag mine and the mine has produced more than 1,000,000 oz of gold and the cost is estimated to be around $285 per ounce.
The company’s high-grade operation will support the low cost ounces and guarantees that Eldorado will stay as the lowest quartile of the industry for production cash costs.
Source: http://www.eldoradogold.com/