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Wednesday, 12th November 2008 (976 views)

Minera Andes has announced results from its San Jose mine for the third quarter of the year.

A total of 12,340 ounces of gold were produced, although the company noted that this was 0.6 per cent lower than in the previous quarter due to lower head grades.

The San Jose project is jointly owned by Minera Andes and Hochschild Mining, with the two companies controlling 49 per cent and 51 per cent respectively.

An expansion is currently underway, with the completion of the first phase resulting in a doubling of capacity.

President of Minera Andes Allen Ambrose remarked: "The San Jose project now has cash flow that is being used to pay for the expansion of the mine, refining circuit and for the connection to the regional power grid."

The San Jose mine is situated in southern Argentina's Santa Cruz province and production at the site originally began last year.

 

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