In Agusan, Australian miner eyes more gold
June 27th, 2011
Filed under: Operator - Medusa Mining Ltd
Medusa Mining Ltd. expects to save $10 million from its expansion program by remodeling its existing mill site at the Co-O mine in Agusan del Sur.
Aggressive underground mine development, combined with an expanded mill capacity, will result in an increase in the company’s output in the next financial year, starting July 1.
Production may reach up to 110,000 ounces, according to Medusa’s report sent via e-mail.
Budgeted production for the 2010-2011 fiscal year, which ends on June 30, has been set at 100,000 ounces.
On the mill expansion, Medusa’s consulting engineers recommended extensive remodeling of the current mill site to maximize the use of existing facilities.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.