Thursday, 13th January 2005 (2752 views)

Cambior has announced a record jump of 33 per cent in gold production for 2004.

Its production was 694,100 ounces as compared to 521,500 ounces in 2003. Its increase in production is due to the start-up of production at its Rosebel mine in the first quarter of 2004.

Projections for 2005 will see a decrease however, with Cambior setting a production target of 621,000 at an operating cost of $250 per ounce.

The company, which has mines in Canada and South Amerca said that the decrease in production is due to its scheduled shutdown of the Omai mine in August and the reduced production from the Doyon mine announced in 2004 because of ground stability problems.

"We are pleased with the performance of our operations in 2004, which represent a company record of gold production," said Louise Gignac, Cambior's president and chief executive officer.

The company is expecting to release its fourth quarter results on February 19.

 

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