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

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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran