Eldorado Gold completes growth projects at mines in Canada and Turkey

Canadian miner Eldorado Gold has announced the completion of two key growth projects at assets in Canada and Turkey, in an update to its investors on the TSX and NYSE.

At the Lamaque mine in Val d’Or, Québec, the firm has finished the Triangle-Sigma decline, which provides underground access for lower cost exploration in the prospective area between the Triangle mine and the historic Sigma and Lamaque operations.

The project at Eldorado’s first Canadian mine also reduces surface ore rehandling and haulage by about 26 km from the Triangle mine to the Sigma mill, reducing costs and carbon emissions, and removing haulage traffic from public roads.

The globally diversified gold miner has also concluded construction and wet commissioning of a high-pressure grinding rolls (HPGR) circuit at the Kışladağ gold mine in Western Turkey. The US$35 million project is expected to increase heap leach life of mine recovery by between 4% and 5%.

Eldorado, which also has operations in Romania and Brazil, has increasingly turned to the domestic market this year; acquiring Québec explorer QMX Gold in January along with an 11.5% stake in another local explorer – Probe Metals – in July.

The company had faced government and community opposition to its exploration and development efforts in Greece – where it has focused a significant degree of its attention on in recent years.

However, Eldorado did receive in April a long-awaited permit for the use of dry stack tailings disposal at its Skouries asset in Northern Greece, and successfully negotiated a new investment contract with the Greek government.

@RGNonline