SMM7, March 8: Canadian miner LundinGoldInc expects gold production at its FrutadelNorte gold mine in Ecuador to be 20-220000 ounces this year, and the mine resumed production over the weekend.
The FrutadelNorte mine stopped production in March, when the Ecuadorian government declared a state of emergency because of the new crown pneumonia outbreak, and Lundin reduced the number of mine workers to a minimum.
Ron Hoxstein (Ron Hochstein), chairman and director of Longding, said that despite the impact of this year's epidemic, the company expects to produce an average of 325000 ounces of gold a year over the mine's 14-year useful life.
The FrutadelNorte gold mine is the first large gold mine in Ecuador to attract investment to diversify its stagnant oil-dependent economy. The mine has proven gold reserves of about 4.8 million ounces.
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