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.
Endomines AB announced on Tuesday the restart of operations at its Friday mine and mill in Idaho.
According to the company, mine development will start in June 2021. Around 3,000 tonnes of ore, currently stockpiled on the surface at the mine, will be transported to the Orogrande processing plant and will provide feedstock for the plant start-up.
“A low-cost low-tech solution to tailings dewatering will be implemented that requires no new permitting. Commissioning of the processing plant is expected in July 2021,” said Endomines in a press release.
By October 2021, the plant’s ore processing is expected to be at full capacity at 7 dry tonnes per hour.
Endomines expects production at the Friday mine of around 9,000 ounces of gold per year for more than seven years.
The company’s known resources in the Idaho projects amount to over 500,000 ounces of gold.
