Eldorado Gold has seven operating mines - five gold, one polymetallic and one iron ore mine:
The Kişladağ gold mine was a greenfield discovery of Eldorado Gold. It is located in Uşak Province and is the largest gold mine in Turkey. Kişladağ is an open pit, heap leach mine, which began commercial production in July 2006.
The Efemçukuru gold mine is located in Izmir Province, Turkey. The high grade epithermal gold vein deposit is suited for underground mechanized mining. The mine started up in June 2011. Efemçukuru's Ore is being processed through a milling and flotation concentrate circuit on site; the flotation concentrate will be transported to our Kişladağ mine.
The Jinfeng gold mine is an open pit and underground mine located in Guizhou Province, China. It began commercial production in September 2007.
The Tanjianshan gold mine (TJS), located in Qinghai Province, China was acquired as an advanced development project in September 2005. Tanjianshan is an open pit, float-roast-CIL operation. When TJS began commercial production in February 2007, Eldorado Gold became the first North American gold producer to build and operate a gold mine in China.
The White Mountain gold mine located in Jilin Province, China, is an underground mine using a sub-level and cut-and-fill stoping mining method. It commenced commercial production in January 2009.
Our 2012 production forecast is 730,000-775,000 ounces of gold at a cash operating cost of $430-450 per ounce.
The Stratoni polymetallic mine, located on the Chalkidiki peninsula in northern Greece, is an underground mine. It operates at a mining and processing rate of approximately 18,000 to 20,000 tonnes of ore per month and produces lead-silver and zinc concentrates.
The Vila Nova iron ore mine, located in Amapa State, Brazil, is an open pit mine and ore processing facility producing lump ore and sinter fines. Trial mining production commenced in Q3 2010 and the first two shipments of ore totalling 90,000 tonnes were sold to the Chinese spot market in 2010. Vila Nova's iron ore production forecast for 2011 is 508,000 tonnes at a cash cost of $62 per tonne.
ELDORADO GOLD: 2011 Gold Production Highlights(Costs and Prices in US dollars)
|Cash Operating Cost ($/oz)1,3||410||397||397||418||405|
|Total Cash Cost ($/oz)2,3||462||477||463||486||472|
|Realized Price ($/oz - sold)||1,397||1,510||1,700||1,686||1,581|
|Kişladağ Mine, Turkey|
|Tonnes to Pad||2,341,635||3,194,051||3,520,220||3,374,541||12,430,447|
|Grade (grams / tonne)||1.04||0.92||0.90||0.97||0.95|
|Cash Operating Cost ($/oz)3||386||389||377||353||374|
|Total Cash Cost ($/oz)2,3||408||411||401||379||398|
|Tanjianshan Mine, China|
|Grade (grams / tonne)||3.90||4.23||4.25||3.56||3.96|
|Cash Operating Cost ($/oz)3||402||343||353||415||377|
|Total Cash Cost ($/oz)2,3||515||596||541||616||567|
|Jinfeng Mine, China|
|Grade (grams / tonne)||4.32||4.05||4.26||3.63||4.06|
|Cash Operating Cost ($/oz)3||430||401||424||525||442|
|Total Cash Cost ($/oz)2,3||482||457||509||596||507|
|White Mountain Mine, China|
|Grade (grams / tonne)||5.71||3.71||4.15||4.29||4.37|
|Cash Operating Cost ($/oz)3||438||518||475||472||474|
|Total Cash Cost ($/oz)2,3||475||564||519||519||517|
|Efemcukuru Mine, Turkey 4|
|Grade (grams / tonne)||-||-||-||7.84||8.21|
|Gold Produced (oz)||-||-||-||484||484|
|Cash Operating Cost ($/oz)3||-||-||-||-||-|
|Total Cash Cost ($/oz)2,3||-||-||-||12,207||26,098|
2Cash Operating Costs, plus royalties and the cost of off-site administration.
3Cash operating costs and total cash costs are non-IFRS measures. See the section "Non-IFRS Measures" in our 2011 annual report.
4Efemcukuru started production in June 2011; gold concentrate has been shipped to Kisladag for processing.
2011 Iron Ore Production Highlights(Costs and prices in U.S. dollars)
|Vila Nova Iron Ore Mine, Brazil||First
|Cash Cost ($/tonne)||53||64||63||70.80||64|