LIMA, Sept 15 Peruvian precious metals miner
Buenaventura expects its Tambomayo mine to
produce its first bar of gold in November and reach full output
at the end of this year or the start of next, the company said
late on Wednesday.
Renzo Macher, Tambomayo's project manager, told reporters on
the sidelines of a mining conference that the underground mine
should produce at least 120,000 ounces of gold next year.
Tambomayo, which cost $320 million to develop, has reserves
to remain productive for five years, but Macher said
Buenaventura is conducting explorations that could extend its
life by decades.
Buenaventura has a 43.65 percent stake in Peru's biggest
gold mine Yanacocha, where reserves have been dwindling.
Tambomayo is one of several smaller mines that the company has
been opening to keep production up.
(Reporting By Mitra Taj; Editing by Phil Berlowitz)