Orosur Mining develops Uruguay's first underground gold mine
South American-focused gold producer Orosur Mining has completed the development a ramp and lateral waste development to enable production at one of its projects.
South American-focused gold producer Orosur Mining has completed the development a ramp and lateral waste development to enable production at one of its projects.
The company reported that ore development was underway and stoping was planned to commence in the Arenal Deeps area by the end of February.
Completion of the ramp and lateral development is expected to enable the Orosur Mining to access higher grade transverse stope ore for the first time in the last quarter of the financial year ending May 31st.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Fowler: 'milestone' achievedDavid Fowler, Chief Executive Officer of Orosur Mining, commented: "I am very pleased to have achieved this important milestone which is a credit to San Gregorio management and employees who have developed the first underground mine in Uruguay over the past two years.
"This achievement has also importantly been achieved during this fiscal year as San Gregorio has transitioned from contractor development to owner operated development to reduce costs."
MF
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published