Engineering & Mining Journal

MAY 2019

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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Page 7 of 83

REGIONAL NEWS - U.S. & CANADA 6 E&MJ • MAY 2019 Eldorado Reaches Commercial Production at Lamaque Eldorado Gold has reached commercial production at its wholly-owned Lamaque gold mine just southeast of Val-d'Or, Que- bec. The mine produces ore from the Tri- angle deposit 2.5 kilometers (km) south of the historical Lamaque and Sigma mines, which are also on the property and pro- duced more than 10 million ounces (oz) of gold. Ore from the Triangle deposit is being processed at the refurbished Sigma mill. Lamaque is scheduled to mine and process more than 500,000 metric tons (mt) of ore during 2019 at an average grade of 7 grams/mt and cash operating costs of $550-600/oz of gold sold. Eldo- rado is estimating that the mine will pro- duce 100,000 oz to 110,000 oz of gold in 2019 and 125,000 oz/y to 135,000 oz/y in 2020 and 2021. Initial mine life is estimated at seven years. Exploration work by Eldorado in- creased its inferred resource at Lamaque by more than 50% during 2018, and the company is planning to conduct more than 37,000 m of exploration drilling on the property in 2019. Regarding reaching commercial pro- duction at Lamaque, Eldorado COO Paul Skayman said, "We are proud to announce the achievement of this important mile- stone just over 18 months after acquiring this asset. It is a testament to all of the hard work that has gone into the explora- tion, prefeasibility study, engineering, and construction that we have safely delivered commercial production ahead of sched- ule. I would like to thank everyone who worked on this project, especially Sylvain Lehoux, Lamaque general manager, and the rest of the team at site." Eldorado Gold is headquartered in Vancouver, British Columbia. The compa- ny operates the Kıüladağ - ru gold mines in Turkey and the Olym- pias and Stratoni polymetallic mines in Greece. Gold production during 2018 totaled 349,147 oz, including 35,350 oz of pre-commercial production from Lamaque. Guidance for company-wide production in 2019 is in the range of 390,000 oz to 420,000 oz of gold. Kennecott Copper Switches to Renewable Energy Rio Tinto will reduce the annual carbon footprint associated with its Kennecott Utah Copper operation by as much as 65% through purchasing renewable ener- gy certificates and permanently shutting down its coal power plant, the company said. Kennecott's electricity needs of 1.5 million megawatt hours will be sup- plied by Rocky Mountain Power, primarily sourced from its Utah allocated portfolio, including wind power from Wyoming. The change will reduce the annual car- bon footprint associated with the operation by more than 1 million metric tons of CO 2 . "Rio Tinto is committed to playing a part in the transition to a low-carbon economy," Rio Tinto Chief Executive J-S Jacques said. "This move will significant- ly reduce emissions associated with our operations in Kennecott and allow us to offer customers copper, gold and silver with a reduced carbon footprint." "The materials we produce, from in- finitely recyclable aluminum and copper used in electrification to borates used in energy-efficient building materials and our higher-grade iron ore product, all play a part in this transition to a low-carbon economy. Rio Tinto will continue to work with partners and customers to develop new sustainable solutions." The move to support renewable pow- er is the result of collaboration with the Utah government, local communities and Rocky Mountain Power. Utah Gov. Gary Herbert said, "Rio Tin- to's decision to retire their power plant is a win-win for our community. Their decision will simultaneously support Utah's shift toward a low carbon economy and improve air quality in the Salt Lake Valley." This is the latest initiative to make Kennecott greener. Since 2005, it has been smelting scrap metal such as old copper wiring into its smelting process. In 2018, it processed more than 2.8 mil- lion pounds of copper from recycled scrap metal, enough to provide the electrical wiring in 6,400 new homes. Pretium Updates Brucejack Life-of-Mine Plan Pretium Resources has announced up- dated mineral reserves and resources and a new life-of-mine plan for its Brucejack gold-silver mine in northwest British Co- lumbia. Proven and probable mineral reserves now stand at 16 million metric tons (mt), grading 12.6 grams/mt gold and 59.3 g/mt silver, containing 6.4 mil- Lamaque miners (above) will mine more than 500,000 mt to produce more than 100,000 oz of gold this year.

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