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| GRANT. The miner agreed to in August stopped its production due to heavy rains. LA PRENSA / David Mesa1459552 |
(Prensa.com) Petaquilla Minerals announced that it managed to recover in October and increase its gold production at the mine that operated in Panama.
This after agreeing in August was forced to stop its activity by “serious impacts” caused by rain and a lightning strike at its production plant.
At that time, the main tub tailings reached its maximum capacity without having completed the second tub support, which triggered an alert of a spill.
Now the company said October 13 had a record of 226 ounces of gold daily, after processing 2 000 779 tonnes of rocks and soil of the hill Molejón.
With this, Petaquilla Minerals raised the monthly average ranging from 6 000 300 to 6000 500 ounces of gold metal at the moment most coveted by the international market.
Before August, the mine had an average daily production of 212 ounces of gold and 6000 ounces per month. But not everything that glitters is gold for the country. Environmentalists have described as “tiny” remuneration received by the State of the mine, which corresponds to 4% of gross sales of gold extracted.
Yesterday the price of bullion on the international market again reached a record $ 339 billion to reach an ounce.
Petaquilla Minerals detailed in his report that the production cost per ounce of gold extracted between 500 and $ 600 during the current period.
Parallel to the extraction of gold, the mine remains open two legal proceedings in the Supreme Court that will prevent the National Environmental Authority (ANAM) to collect two fines totaling 1.9 million dollars as compensation for alleged environmental damage caused to 2009.
The Anam recently announced it will open other administrative proceedings against Petaquilla for not complying with the correct handling of clay material.