-0.7 C
Belgrade
Supported byspot_img
spot_img

Euromax Canada mining investor claim Macedonia Ilovica mine rich with 70t of gold

Member of Europium Groupspot_img
Supported byspot_img

The work life of the mine “Ilovica” near Strumica, will last for 23 years, and it will annually produce 2.7 tons of gold and 16,000 tons of copper. The feasibility study for the project “Ilovica”shows that, which did a Canadian investment fund Euromax.

The study confirmed the economic potential of this project, since the total estimated ore reserves amount to 225 million tons with gold content of 69.5 tons and copper of 441,000 tons.

Canadian concessionaire, Euromax, plans to begin construction of the mine in 2016th while the production will start next year, in 2017th. From the site will be excavated 10 million tons of oreannually.

Supported by

President and executive manager of Euromax, Steve Sharp, said during the study presentation that the mine opening was of great importance for Macedonia, and that the project would strengthen the economic profile of the country.
According to the announcement, the project should employ up to 400 people, and the investment is expected to reach approximately 500 million dollars.

Supported byElevatePR Digital

Related News

Important Announcement to Our Readers

After years of dedicated efforts to promote the European mining industry and foster a balanced approach between environmental conservation and the responsible exploitation of...

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....
Supported by
Supported by
Supported by
error: Content is protected !!