Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Alacer Gold Corp is pleased to announce that production at the Çöpler Gold Mine in Turkey is ramping up smoothly. Initial recovery rates from the run-of-mine heap leach ores are very encouraging. Çöpler produced first gold as announced on December 22, 2010. Gold production at Çöpler was 512 ounces in December 2010 and 8,590 ounces in January 2011. In February 2011 production is expected to be approximately 9,000 ounces.
Mining to date has placed 2.4 million tonnes at 1.1 gpt on the pad. At the end of February 2011, there was approximately 67,000 ounces on the pad under and available for leaching. Over the next few months, Alacer plans to commission the crushing and agglomeration circuits and expects production to ramp up to commercial status.
Edward Dowling, CEO of Alacer stated, “These results are highly encouraging as it indicates that the rate of gold recovery from the mining and heap leach operations are better than expected. We are very pleased with Çöpler’s successful ramp up to date.”
Alacer is a leading intermediate gold company with operations in both Australia and Turkey.
