Nicaraguan Gold Mine Production Increases

"La Libertad" gold mine, owned by B2Gold Corp, could increase its production and operating life.

Tuesday, December 14, 2010

The company announced the results of exploratory drilling, which indicates the possibility of increasing current production, which stands at 80.000-90.000 ounces of gold annually.

The company had a budget of $ 4.6 million for exploration in 2010 and plans to keep it for 2011.

Reuters.com reports that the company has begun drilling the Trebol project in northeastern Nicaragua.

More on this topic

B2Gold Bets on Gold in Nicaragua

March 2012

The Canadian mining company will invest $100 million in the country in 2012 to expand its two gold mines.

B2Gold is the largest mining operation in Nicaragua, and owns La Libertad mine and 95% of the Limon mine, respectively producing about 90,000 and 40,000 ounces of gold annually. Together, the two mines are expected to generate $140 million in cash this year, 40% more than in 2011.

Nicaragua: Gold Mine Doubles Profits

November 2011

The Canadian company B2Gold, which operates the Limon and La Libertad mining projects in Nicaragua, has announced higher revenues and production.

In the third quarter of 2011, the company’s gold mines produced a total of 34,303 ounces of gold and generated revenues of $50.5 million. This represents a 13% increase in production and a 26% increase in revenue, compared with the same period in 2010.

B2Gold Announces Investments in Nicaragua

November 2010

The company announced an investment of nearly $ 34 million to increase domestic production of gold.

The company´s president, Clive T. Johnson, said projections for 2011 are to achieve a production of 140.000 ounces of gold.

About $ 11 million will be invested at La Libertad mine to improve production and about $ 4.5 million in exploration work.

Nicaragua: Orosi Gold Mine 95% Ready

November 2009

Its owner, Canadian company B2Gold, estimates 2010 production in 120.000-130.000 gold ounces for its two mines in the country.

In a press release, B2Gold announced that mining project Orosi is 95% ready, could begin operations in November, and has had a construction cost of $62 million.

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