Canadian Mining Journal

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NEW MINE PRODUCTION Three Canadian Companies Join Global Family

In Latin America and Europe, three Canadian companies have joined the ranks of the world's mineral producers.


In Latin America and Europe, three Canadian companies have joined the ranks of the world’s mineral producers.

EUROZINC MINING CORP. of Vancouver reports that its newly-acquired Neves Corvo copper mine in Portugal produced 50,100 tonnes of copper in concentrates for the first six months of 2004. The average ore grade was 6.0% Cu. Unaudited net profit from Neves Corvo was US$45.1 million on gross sales revenue of US$129.4 million. EuroZinc’s next project is to bring the nearby Aljustrel property into production (see www.eurozinc.com).

Vancouver-based FIRST MAJESTIC RESOURCE CORP. says the first silver concentrates have been shipped from its La Parrilla mine near Durango, Mexico. The company had been operating the mill off-and-on in order to test, repair and modernize equipment. At the plant the crushers were overhauled, conveyors and electric systems repaired, a ball mill relined, the flotation circuit was modified, and new motors installed on the leaching tanks. Full production is expected this month. More information and a photo gallery are available at www.FirstMajestic.com.

The concentrator has been rebuilt and mining restarted at the Pimenton copper/gold mine, 100% owned by SOUTH AMERICAN GOLD & COPPER of Toronto. The mine is located about 175 km northeast of Santiago, Chile. SAGC operated a 35-tonnes/day pilot plant during 1995-96, and then stepped up the rate to 120 tonnes/day of development ore. The property was placed on care-and-maintenance in March 1997. During July, the Pimenton mill produced 156.7 tonnes of flotation concentrate averaging 3.27 oz/t Au, 17.25% Cu and 4.87 oz/t Ag plus 3.45 tonnes of gravity concentrate grading 109.39 oz/t Au, 19.09 oz/t Ag and 1.38% Cu.

Financial reports, press releases and geological maps may be requested from www.sagc.com.


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