Scotland will soon join the ranks of gold producers, as Caledonia Mining (CAL-T) prepares to cut the ribbon on its US$11-million Cononish underground gold mine.
Situated near the town of Tyndrum in the west-central Highlands, the gold-silver mine will begin producing about 25,000 oz. gold-equivalent annually by the summer of 1997. With proven reserves of 448,642 tonnes grading 10.20 grams gold and 52.82 grams silver per tonne and a mine life of seven years, a cash cost of US$160-225 per oz. is anticipated.
The company will continue to explore the surrounding area for additional reserves.
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