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Tuesday, 31st August 2004 (6114 views)

High River Gold Mines Ltd. has announced plans to relocate a newly acquired processing mill and related assets in Nevada to its Berezitovy gold project in Russia.<BR/><BR/>The company bought a processing mill, ore crusher and conveyor system in from Denver-based Newmont Mining Corp., the world's biggest producer of gold, for an undisclosed sum.<BR/><BR/>The deal is expected to speed up the timely completion of the Russian gold project, under development in the Amur region of southern Siberia.<BR/><BR/>The plant and equipment is high-quality, in excellent condition and has obviously been very well-maintained by Newmont," said Daniel Vanin, High River's executive vice-president and chief operating officer.<BR/><BR/>"In addition to the capital cost savings envisioned, this purchase reduces the design requirement for the project and enables development activity to begin shortly."<BR/><BR/>Built in 1988 the Nevada mill operated for ten years at an average processing rate of 6,000 tonnes of gold-bearing ore per day. The Berezitovy project is estimated to operate at 4,800 tonnes a day to produce about 100,000 ounces of gold a year over a nine-year period.<BR/><BR/>Production is scheduled to begin late next year.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3314641"/>

 

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