ROSEBEL GOLD MINES, a wholly-owned subsidiary of CAMBIOR INC., has obtained a 25-year renewable Right of Exploitation for the Rosebel gold project from the Government of Suriname. This right includes the permit for construction and development of the project.
The Rosebel open pit is located about 80 km south of Suriname's capital city, Paramaribo. To reach production will take about 12 months and cost about $95 million. Gold recovery will be by carbon-in-leach to an average annual gold production of 220,000 oz at an average mine operating cost of $187 per oz. Probable reserves are estimated at 39.91 million tonnes grading 1.63 g/t Au. This is sufficient for a mine life of eight years.
The Rosebel reports and information about Cambior's other activities can be found at www.cambior.com