{"id":1123336,"date":"2019-06-26T16:30:07","date_gmt":"2019-06-26T16:30:07","guid":{"rendered":"https:\/\/www.mining.com\/?p=995029"},"modified":"2019-06-26T16:30:07","modified_gmt":"2019-06-26T16:30:07","slug":"leagold-begins-los-filos-mine-expansion","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1123336","title":{"rendered":"Leagold begins Los Filos mine expansion"},"content":{"rendered":"<p>Canada\u2019s Leagold Mining (TSX: LMC) has <a href=\"https:\/\/www.leagold.com\/news\/2019\/leagold-closes-and-draws-new-long-term-debt-and-commences-los-filos-expansion\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">kicked off the first of three major projects<\/a> aimed at expanding facilities at its Los Filos gold mining complex in Mexico, 180 km south of the capital city.<\/p>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<p>The move is part of the Latin<br \/>\nAmerica-focused miner\u2019s plan to become a 700,000 ounce-per-annum gold producer,<br \/>\nhaving closed a previously announced $400 million financing.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The expanded Los Filos project will have a 20-year mine life (2019-28), during which time 3.2 million ounces of gold are expected to be recovered<\/p>\n<\/blockquote>\n<\/figure>\n<p>The Vancouver-based company, which expects works to take about 2.5 years, said the Bermejal&nbsp;underground&nbsp;development would start in the third quarter of this year.<\/p>\n<p>Work on the Guadalupe open pit , in<br \/>\nturn, will get under way in the final quarter of 2019, and construction&nbsp;of<br \/>\nthe 4,000 t\/d carbon-in-leach (CIL) plant would start in the third quarter of<br \/>\nnext year.<\/p>\n<p>Leagold also said it would secure a<br \/>\nportion of its revenue from gold sales over the time it takes to finish the parallel<br \/>\nprojects, which will require a $209.1 million investment.<\/p>\n<p>The expanded Los Filos project will<br \/>\nhave a 20-year mine life (2019-28), during which time 3.2 million ounces of<br \/>\ngold are expected to be recovered.<\/p>\n<p>From 2021 onwards, the average<br \/>\nannual output will be 350,000 ounces. That number will rise to 420,000 ounces<br \/>\ngoing forward until 2024.<\/p>\n<p>The Canadian miner <a href=\"https:\/\/www.mining.com\/goldcorp-sells-mines-in-mexico-guatemala-for-about-470-million\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">acquired Los Filos mine from Goldcorp<\/a> in January 2017, in a deal valued at $438 million.<\/p>\n<p>The gold giant had put the operation<br \/>\non the block the previous year, under a push to prioritize its biggest and best<br \/>\nmines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Move is part of the Latin America-focused miner&rsquo;s plan to become a 700,000 ounce-per-annum gold producer.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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