The Fruta del Norte gold deposit was discovered by Aurelian Resources in 2006 and two years later Kinross acquired the company for $1.2 billion. Lundin Gold purchased the asset from Kinross in 2014 for C$240 million. Since acquiring the asset, Lundin Gold has signed all major agreements with the Ecuadorian Government to start development, completed a feasibility study and a project update.
Fruta del Norte is now one of the next major gold mines currently being developed. It is a large, high-grade gold deposit with probable reserves of 4.9 million ounces of gold grading at 9.2 grams per tonne. Construction began mid-2017 and first gold is expected in the fourth quarter of 2019.
Fruta del Norte Facts
|Life of Mine||~15 years|
|CAPEX||$US684 net of taxes, advanced royalties and financing costs|
|Future Production||3,500 tonnes per day, average 325,000 ounces gold per year|
|AISC||US$609 per ounce|
|Infrastructure||A 21 km road and 42 km powerline are being built to connect Fruta del Norte to Ecuador’s national highway system and power grid|