MONTREAL – CAMBIOR INC. has summed up its 2005 operating year, saying that total gold production was 638,000 oz. Over half that amount, 341,000 oz, came from its Rosebel mine in Suriname. The failure of a thickener foundation late in the year, reduced output at Rosebel, but next year’s budget calls for Rosebel to produce 335,000 oz from 5.1 million tonnes of ore grading 1.84 g/t Au.
The Doyon division in Quebec produced 157,000 oz of gold. That was up 7.5% from the previous year thanks to the reopening of the Mouska mine and reorganization of the Doyon mine. This year the division is expected to produce 150,000 oz from 820,000 tonnes of ore grading 5.9 g/t Au.
Cambior’s share of production from the Sleeping Giant mine in Ontario was 40,000 oz. In May 2005 the company bought out its partner, increasing its interest to 100%. The target output this year is 43,800 oz.
The 12-year-old Omai mine in Papua New Guinea ended operations in September 2005, having exhausted its resources, but not before it produced 99,500 oz of gold last year.
To replace this production, Cambior hopes to develop the Camp Caiman project in French Guiana. The project has a price tag of US$115 million for production in late-2007. Annual production is estimated to average 150,000 oz.
Cambior announced a 42% increase in gold reserves due to a net gain of 753,000 oz at the Rosebel mine and inclusion of 1.1 million oz in the probable category after the Camp Caiman feasibility study was completed in August 2005.
More information on these mines and Cambior’s niobium and bauxite operations can be found at www.Cambior.com.