Last Updated :
12 January 2010 at 16:30 IST
Petaquilla Minerals chalks out gold mining plans
VANCOUVER (Commodity Online): Petaquilla Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) has advanced its Molejon gold mine in the Republic of Panama to commercial production as defined under Canadian Generally Accepted Accounting Principles.
The Company has determined January 8, 2010, as the date of commercial production when an average of 70% of design capacity was maintained continuously for a period of 30 days with metallurgical recoveries approaching forecast levels.
Ore throughput at the process plant is currently 1,500 tonnes per day for a design capacity of 2,200 tonnes.
According to Joao Manuel, President & Chief Executive Officer, achieving commercial production at our Molejon gold mine is an historical milestone for the Company as well as for the mining industry of Panama.
Our project is making a significant contribution to the sustainable economic development of the region, providing employment for the local people and support for local businesses, in full respect of the highest environmental standards, he added.
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