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Century Mining ramping up San Juan in 2010

Monday, 18 Jan 2010


According to Ms Margaret Kent CEO of US based Century Mining, the company aims to produce 19,000oz of gold this year at its San Juan mine in Peru starting a gradual expansion process to a rate of 30,000oz per year in 2012.

Ms Kent said "We are going to be growing Peru little by little, with about 19,000oz of production in 2010, 22,000-23,000oz in 2011, and then we should bump to about 30,000oz in 2012."

Ms Kent said "We are hopeful that as we get Lamaque started up and we start cash flowing that we are going to be able to inject some serious money into exploration in Peru,"

She said "We would probably tie that in with a jump to 30,000oz per year, adding the cost of the power line is still under evaluation but seen at USD 6 million to USD 10 million.

Ms Kent said "We've got some wonderful exploration potential."

The company is also working to start producing in April at its Lamaque gold mine in Quebec, where 2010 guidance is 40,000 to 50,000oz. Lamaque is designed to ramp up to 100,0000oz per year to 110,000oz per year by 2013.