Next major gold mine is in production
Project Overview
The Fruta del Norte gold deposit was discovered in 2006. Lundin Gold purchased the asset in late 2014 for US$240 million. Since acquiring the asset, Lundin Gold completed a feasibility study, signed all major agreements with the Ecuadorian Government providing for the fiscal and regulatory regime and economic stability, and subsequently financed and constructed the mine and infrastructure on time and on schedule in five short years. First gold production was reached in November 2019 and commercial production was achieved in February 2020.
Fruta del Norte Facts
| Location | Southeast Ecuador |
| Ownership | 100% |
| Mine Type | Underground |
| Probable Reserves | 5.41 million ounces of gold grading at 8.1 grams per tonne |
| Life of Mine | ~14 years |
| CAPEX | $692 million |
| Future Production | Average of 340,000 ounces gold per year |
| AISC | US$770 - $830 per ounce in 2021 |
| Infrastructure | A 21 km road and 42 km powerline connect Fruta del Norte to Ecuador’s national highway system and power grid |
