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Calibre Mining said on Tuesday that its second-quarter gold production could be negatively impacted following a geotechnical incident at the Limon Norte mine, part of its Limon complex in Nicaragua.
The incident occurred on the west wall of the Limon Norte open pit. While the pit wall movement did not impact personnel or equipment, it resulted in a change in the mine’s sequencing, which Calibre said will affect its output. Ores from the Limon mines are processed at the El Limón mill, which has an annual throughput of approximately 500,000 tonnes per annum and a historical recovery rate of 94% to 95%.
Next year, Calibre will have a second producing asset in the Valentine gold mine in central Newfoundland, for which it recently signed a commissioning contract and is aiming to start in Q1 2025.Gold purchases by central banks were strong in April despite high prices, WGC says
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