Friday, January 18th 02:57 PM IST

Randgold announces first Gold pour at Bissa in Burkina Faso

# Nord Gold  # Russia gold  # Bissa  # Burkina Faso  

Nordgold started the construction of the Bissa project in September 2011 after investing $250 million into the operation.

MOSCOW(BullionStreet): Russian gold miner Nordgold announced pouring gold for the first time from it's Bissa project in Burkina Faso.

The company, which operates nine mines in Russia, Kazakhstan, Burkina Faso, and Guinea said the annual capacity of the mine will amount up to 200,000 ounces of gold at around $600–700 per ounce.

The $250-million project, which was completed over a period of 15 months and within budget, was on track to produce up to 100 000 oz/y of gold during this year as it ramped up to an eventual production rate of 200 000 oz/y of gold.

Bissa is the company’s second operating asset in Burkina Faso, after the Taparko mine, and its third asset in Africa, bringing the total number of Nord Gold’s operating mines to nine.

As of January 2012, the deposit’s proven and probable reserves were estimated at 1.803 million ounces under JORC Code. The measured, indicated, and inferred resources amounted to 4.929 million ounces.

Nordgold started the construction of the Bissa project in September 2011 after investing $250 million into the operation.

Nordgold runs nine mines in Russia, Kazakhstan, Burkina Faso, and Guinea. The company expects its 2012 gold production at the lower band of its production guidance of 720,000-770,000 ounces.

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