Thursday, April 15, 2010

Newmont (NYSE:NEM) Ready to Start Doris North Gold Mine

Newmont Mining Corp. (NYSE:NEM) said they're looking at starting up its Doris North gold mine after an a one year hiatus from the project.

Although the Doris North mine is a small one, with an estimated 300,000 ounces of gold there.

Reopening Doris North would probably be a prelude to nearby projects, which contain much more gold, as the combination of Doris Central, Boston and Madrid mines hold an estimated 3 to 5 million ounces of gold.

Other plans are to bring in a mill which could process 800 tons of ore a day, which would be in preparation for all of the projects it would seem, which are being considered a second phase in the overall area.

Underground work could start as early as the fall of 2010 for Doris North.

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