Vancouver – Eldorado Gold (ELD-T, EGO-X) has reached the milestone of being the first North American gold producer to be granted a Chinese mining certificate, allowing advancement of its Tanjianshan mine into official production.
The open pit mine, in Chinas Qinghai Province, actually began commercial production on February 1st and recorded gold output of 12,518 oz. in January during its start-up phase. Tanjianshan is expected to produce about 125,000 oz. of gold in 2007 at a cash cost of US$240 per oz.
The deposit hosts proven and probable reserves of 8.5 million tonnes grading 4.1 grams gold per tonne for about 1.1 million contained oz. Mine life is projected at 8 years.
Eldorado owns 90% of the mine with Dachaidan Mining and The First Brigade for Geology and Mineral Exploration of Qinghai Province holding the remaining interest.
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