Gold in Uruguay – Mining in Rivera

Gold in Uruguay – Mining in Rivera

Orosur Mining, the only gold mining company in Uruguay, will begin work in his quarry underground main El Arenal, in Rivera, thus attaining an investment of $ 30 million for a project that will last about six years and may go to employ about 150 people.

The company works in the country since 2003 in “open sky mining” and hired by tender Chilean Redpath Building to dig the tunnel. “Is a contractor with international experience” said The Business chief financial officer Ignacio Salazar. “The hardest part is the development of the ramp to get the gold and extract it, then we can use the systems they have” he said.

The Chilean company, which is in the process of recruitment of staff, is responsible for the first stage of the project and training. “We want as far as possible, taking operations to go underground and go training people, because it is not only for this project, we want to do something in a long term” said the executive.

The country is not formed for mining engineers, admitted the National Director of Mines and Geology, Pier Rossi. “The technical training is an issue here and below, is trying to coordinate that with the university,” he added.

The chief also reported that although the country has already worked with galleries (tunnels), have never been excavated on this scale, reach a total of 400 meters deep. While there is an important international level, yes it is nationwide, so the controls must be adjusted.

Gold made in Uruguay

Orosur employs about 350 people directly and indirectly will add about 600 more. Until last year, the Canadian equity firm called Uruguay Mineral Exploration, until it acquired all the shares of the mining Fortune Valley of Chile.

The second quarter of 2010 in Uruguay reported net income of $ 2.6 million compared to $ 0.6 million the same period in 2009. Total sales for the quarter were U.S. $ 16.6 million above the $ 14.8 million last year, partly due to the rising price of gold.

The company identifies and develops mineral projects in South America and Uruguay has assembled a portfolio of exploration projects in gold, diamonds and base metals.

Source: El País.

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