Next major gold mine is under construction

Project Overview

The Fruta del Norte gold deposit was discovered by Aurelian Resources in 2006 and two years later Kinross acquired the company for $1.2 billion. Lundin Gold purchased the asset from Kinross in 2014 for $240 million. Since acquiring the asset, Lundin Gold has signed all major agreements with the Ecuadorian Government to start development, completed a feasibility study and a project update.

Fruta del Norte is now one of the next major gold mines currently being developed. It is a large, high-grade gold deposit with probable reserves of 4.9 million ounces of gold grading at 9.2 grams per tonne. Construction began mid-2017 and first gold is expected in the fourth quarter of 2019.

Fruta del Norte Facts

LocationSoutheast Ecuador
Ownership100%
Mine TypeUnderground
Life of Mine~15 years
CAPEX$US684 net of taxes, advanced royalties and financing costs
Future Production3,500 tonnes per day, average 325,000 ounces gold per year
AISCUS$609 per ounce
InfrastructureA 21 km road and 42 km powerline are being built to connect Fruta del Norte to Ecuador’s national highway system and power grid

By providing your e-mail address on this form, you are consenting to receive communications from Lundin Gold and CNW/Cision. The Company uses CNW/Cision to disseminate its news releases. Your name or email address is not used or disclosed by Lundin Gold and CNW/Cision for any other purpose.

You will receive a confirmation email that you subscribed to our email list. You will be required to click the link in that email to complete the signup process and begin receiving the company's emails.

You may withdraw your consent to receive communications from Lundin Gold and CNW/Cision at any time by clicking Unsubscribe link located at the bottom of the communication you receive.

If you don’t receive the confirmation link, it may be because your email account has blocked receipt of it. If this is the case, please add the following to your safe sender list: subscribe@lundingold.mediaroom.com