New Gold Aims To Begin Processing Ore At Rainy River In Mid-September
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(Kitco News) -New Gold Inc. (TSX, NYSE: NGD) says the company remains on track to begin processing ore at its Rainy River project in mid-September. The company says the project, located in Ontario, is both on schedule and on budget. “We are very much looking forward to Rainy River’s targeted start-up in the coming weeks,” says Hannes Portmann, president and chief executive officer. “We made significant progress in August. Our mining rate increased to over 135,000 tonnes per day, we completed construction of the TMA [tailings management area] start-up cell, and all process facilities are mechanically complete and in testing.” The estimated development capital cost from the beginning of 2017 to targeted November 2017 commercial production remains $515 million.