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22/07/2024
Mining News

Antilles Gold Advances Gold and Copper Projects in Cuba’s Mineral-Rich Terrain

ASX-listed Antilles Gold is an Australian mining company focused on gold and copper projects in Cuba through joint ventures with the Cuban government’s mining company GeoMinera, which opens new development opportunities for Antilles and de-risks permitting processes.

The company is focused on four development projects:  Nueva Sabana gold‐copper mine; La Demajagua gold mine; El Pilar porphyry copper project; and Sierra Maestra copper concessions. Of these, Nueva Sabana and La Demajagua offer near‐term development opportunities.

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Nueva Sabana is a near‐term gold‐copper mine development project with a 10‐month construction beginning in June 2024. The project is expected to generate strong cash flow from concentrate sales from mid‐2025.

The second mine development project is La Demajagua, an open-pit mine gold project where construction will commence in late 2024 and commissioning begins mid‐2026. This project is anticipated to produce approximately 10,000 tons per annum (tpa) of antimony‐gold concentrate (30,000 oz gold equivalent per year).

 

Source: Investing News Network

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