Carpathian Gold receives approval for construction of Brazilian gold mine
Carpathian Gold has received approval from the Brazilian Government for the construction of its Riacho dos Machados (RDM) gold project in the state of Minas Gerais.
The project is expected to start gold operations in late 2012 or early 2013 with an annual production rate of more than 94,000oz of gold for an initial eight years.
Carpathian Gold has selected Caterpillar to supply its mining fleet and is expected to request the initial order of mining equipment by the second quarter of 2012.
The firm has also selected a contract mining group to start the pre-stripping of the deposit prior to the arrival of the equipment.
The RDM mine site has numerous exploration targets on strike and will commence exploration drilling on these targets to improve the mine life and annual production rate.