First gold poured from Brazilian mining operation
- Published: May 22, 2019, 4 AM
The first gold mined from the Aurizona mine in Maranhão, Brazil, has been poured, according to its owner, Equinox Gold.
The Canadian mining company reports it has roughly 750,000 metric tons of ore stockpiled for processing at the Aurizona site. The mine expects to increase production to 265,000 ounces of gold in 2019, up from 230,000 in 2018.
Equinox also owns the Mesquite Mine in Imperial County, California, and Castle Mountain Mine in San Bernardino County, California. Between the mining operations, Equinox is hopeful the combined mining output will yield 500,000 ounces gold annually, starting in 2020, and that additional mining assets acquired will push total annual production to 1 million ounces by 2023.
Equinox received an influx of $130 million from Abu Dhabi's Mubadala Investment Company to assist expanded development at the Castle Mountain location.
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