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Tuesday, 26th October 2004 (4212 views)

Canadian mining firm Red Back Mining has announced it has decided to push forward with a gold project in Western Africa.<BR/><BR/>The $61.6 million US Chirano Gold project will be financed using equity financing and debt that was arranged earlier in the year.<BR/><BR/>According to Canadian Press, construction at the site in Ghana is already well underway and gold production is set to begin in the late third quarter in 2005.<BR/><BR/>It is hoped Chirano will produce around 145,000 ounces of gold each year in the first three years of full production.<BR/><BR/>In addition, Red Back claims production will reach full capacity by early 2006.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3713860"/>

 

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