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October 27, 2020

Condor Gold prepares for La India mine work in Nicaragua

UK-based Condor Gold has announced that it has begun preparation work for its flagship La India gold project. Work consists of a ground investigation programme comprising 20 geotechnical drill holes and 58 test pits on the tailings storage facility, water retention reservoir and processing plant.

UK-based Condor Gold has announced that it has begun preparation work for its flagship La India gold project. Work consists of a ground investigation programme comprising 20 geotechnical drill holes and 58 test pits on the tailings storage facility, water retention reservoir and processing plant.

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Located in Nicaragua, La India gold-silver project is an open-pit mine. It is fully owned by Condor Gold.

Condor Gold noted that the latest move would further speed up the project transition from a pre-feasibility level of design to final engineering plans on major infrastructure, in preparation for the construction of the gold mine.

Condor Gold chairman and CEO Mark Child said: “The commencement of ground investigations via a geotechnical drilling program of 20 drill holes and 58 test pits on the Tailings Storage Facility (TSF), La Simona water retention reservoir and processing plant site demonstrates Condor’s commitment to advance La India Project to construction.

“Condor has previously completed a Pre-Feasibility level design on the TSF and water retention reservoir.

“The decision has been taken to accelerate the Project, by-passing a Feasibility level design, which is typically required for bank lending and go directly to a TSF Final level of design, which will, subject to funding, allow the fast-tracking of the Project to future operational status”.

A pre-feasibility study ( for the project was completed in November 2014, while the environmental permit was granted in August 2018.

In July last year, Condor Gold was granted an extension to acquire the land for the La India project in Nicaragua.

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img

Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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