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Friday, 24th November 2006 (3128 views)

Barrick Gold has announced that gold production at its Lagunas Norte mine in Peru has reached a million ounces during 2006.

The milestone was hailed by Barrick president and CEO Greg Wilkins who also stated that the four mines the company had commissioned since last April was an "unprecedented achievement".

Lagunas Norte was purchased back in 2002 along with the Alto Chicama property and a total of around $40 million (£20.7 million) has been ploughed into the exploration programmes at these sites.

Mr Wilkins said: "There are not many gold mines in the world with the capability to produce over one million ounces in a year."

"Lagunas Norte has been an unqualified success story for Barrick, highlighting our exploration expertise, along with our ability to construct large-scale projects ahead of schedule and within budget," he continued.

The Lagunas Norte property is situated between 4,000 and 4,260 metres above sea level and is located 175 kilometres away from Barrick Gold's Pierina mine.

 

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