money

FOR WASTE ROCK

Profitable aggregate sideline adds to bottom line for gold miner Anaconda

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unior gold producer Anaconda Mining is getting noticed for all the right reasons. The company opened a small gold mine 6 km east of Baie Verte on Newfoundland’s Ming’s Bight Peninsula in 2008. It is called the Point Rousse project and includes the Pine Cove gold mine and the 1,200-tonne-per-day mill. The Point Rousse project is a small, reliable operation pouring slightly more than 16,000 oz. in 2016 with plans to double production to 30,000 oz. in the works. There is potential for expansion and longer life as Anaconda continues to explore five additional deposits and several showings within 8 km of the mill. Recognition is coming quickly. The CIM Newfoundland Branch named Anaconda the 2016 Miner of the Year. The company is one of the best places to work in Atlantic Canada, as rated by Progress Magazine and Best Companies Group last year. The company’s president and CEO Dustin Angelo was named to the list of 2016’s Top 50 CEO’s in the region by Atlantic Business Magazine. And earlier this year Angelo was named Industry Per-

son of the Year by Natural Resources Magazine. Besides building an award winning gold enterprise, Angelo has also created a thriving aggregate ventures for the company. It is located at the Point Rousse port facility where crushed waste from the mine is loaded onto ocean-going vessels. Anaconda is working with Shore Line Aggregates (a subsidiary of its contract miner, Guy J. Bailey Ltd.) and Phoenix Bulk Carriers to supply 3.5 million tonnes of gravel to a construction project on the eastern seaboard of the United States. The final environmental and construction permits for the port were received last December. Point Rousse is located in the Baie Verte Harbour, one of the deepest harbours in Atlantic Canada. The depth makes the site suitable for loading ships up to 199 metres long and carrying 60,000 tonnes per trip. So far Anaconda has shipped about 1 million tonnes of aggregates. The aggregate contract will add approximately $2 million to Anaconda’s treasury by the end of this year, and that is without

Anaconda’s Point Rousse ship loading facility for aggregates headed to the United States.

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CANADIAN MINING JOURNAL

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CREDIT: ANACONDA GOLD

WWW.CANADIANMININGJOURNAL.COM

2017-03-20 10:20 AM