TORONTO (miningweekly.com) - Toronto-based North American Palladium, which wants to build itself into a mid-tier precious metals company with "multiple mines," is targeting annual gold production of 250 000 oz/y, CEO William Biggar said on Friday.
As a first step, the firm announced last month that it will buy Cadiscor Resources, which recently acquired the closed Sleeping Giant gold mine, in Quebec, from Iamgold.
NAP plans to restart mining operations at Sleeping Giant in the fourth quarter of this year, and expects the mine to produce around 50 000 oz/y of gold, at cash costs of $450/oz.
However, at this rate the reserves will be mined out within three years, and so the company will be hoping to increase the mine's life through exploration.
Click here to read more about N.A. Palladium's gold production.
