Nordgold to invest $360 mln in GuineaТs Lefa mine in 15 years - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Nordgold to invest $360 mln in GuineaТs Lefa mine in 15 years

MOSCOW, Feb 7 (PRIME) -- Gold producer Nordgold, controlled by Russian tycoon Alexei Mordashov, plans to invest more than U.S. $360 million over the next 15 years in development of the Lefa mine in the Republic of Guinea, the company said in a statement on Thursday.

УNordgoldЕis pleased to announce that a new mining permit will be effective starting from March 21, 2019. The new permit as well as the convention are extended for 15 years, in line with LefaТs current life of mine. Nordgold will invest over $360 million in LefaТs development within its life of mine,Ф the company said.

Nordgold bought the Lefa mine in 2010, and the company has invested more than $1 billion in Guinea since then, Nordgold said.

The Lefa mine is one of GuineaТs largest gold producing facilities. It employs about 1,200 people, and its output rose 7% on the year to 208,800 ounces in 2017.

End

07.02.2019 12:56
 
 
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