Three Canadian companies have taken advantage of golden opportunities to set record production numbers during 2004.
Output from Montreal-based Cambior Inc. properties reached 694,100 oz Au, a 33% increase from 2003. The gain was made possible because the Rosebel mine in Surinam reached commercial production in the first quarter. For 2005, the company has set a target of 620,000 oz of gold at an estimated mine operating cost of US$250/oz.
Toronto-based Goldcorp Inc. reports total production was a record 628,000 oz Au in 2004, up 4% from 2003. The Red Lake mine in Ontario (see article on page 16 of this issue) set its own record, producing 552,000 oz Au. The company is expanding that mine and has set a production target of more than 725,000 oz of gold in 2008.
The Kemess copper/gold mine belonging to Vancouver-based Northgate Minerals Corp. had a record-breaking year, too. It produced 303,475 oz of gold at a record low cash cost of US$137/oz. Plus it turned out 78.3 million lb of copper, another new record. The 2005 forecast is down slightly, with mine production estimated to be 280,000 oz of gold and 76 million lb of copper this year.