Lundin Gold Reported Surge in Fruta del Norte Gold Mine Output

SEATTLE (Scrap Monster): Lundin Gold Inc., based in Vancouver, British Columbia, said that its Fruta del Norte gold mine in Ecuador produced 122,154 ounces of gold in the third quarter of 2024. Out of this, 73,532 ounces were generated as concentrate and 48,622 ounces as dore. 125,887 ounces of gold were sold during the period. The company's sales and output of gold for the same quarter in 2023 were 112,711 and 112,212 ounces, respectively.

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The mill processed 425,340 tonnes of ore in Q3 2024 as opposed to 416,072 tonnes in the same quarter the previous year. Compared to Q3 of last year, when the average throughput rate was 4,523 tonnes per day, it increased to 4,623 tonnes per day.

The second and last payment of $150 million was made on September 27, 2024, in accordance with the agreement with Newmont Corporation to purchase 100% of the remaining amount of the stream credit facility and offtake agreement for the Fruta del Norte gold mine for a value of $330 million. This year's end of June saw the first payment of $180 million made.

In just under five years of operation, Lundin Gold has produced two million ounces of gold from Fruta del Norte, according to Ron Hochstein, President and CEO of the company.