Continental Gold awards $390.3M Buritica project in Colombia

The leading gold producer in the Latin country is in charge of developing the expecting biggest Colombian mine.

The 69,983 hectares Buritica project site is located in the Antioquia Department, north-west of Colombia. Continental Gold subsidiary, CGL Buritica, is undertaking the preparation for mine construction with the plan’s first phase consisting in 6km access road construction almost completed.

Merit Consultants International Inc. is designated to manage the construction. The engineering and procurement contract has been awarded to M3 Engineering & Technology Corp.

Ari Sussman, Continental Gold Chief Executive Officer, commented: “We are very pleased to partner with two world-class organizations such as Merit and M3, both of whom have recent and relevant direct Colombia experience. “

The $390.3 M Buritica project which is to be host to a high-grade underground gold mine also includes 110KV electrical transmission line building to provide power to the site.

The mine first production is expected in 2018 with an annual average of gold estimated at 314,000 for the first five years. The mine existence would be 18 years.