Sumitomo Metal Mining and Sumitomo Corporation announced on Tuesday they confirmed new gold deposit was identified through exploration in Pogo gold mine, Alaska of USA. The new deposit contains around 40 tonnes of gold. They start development of new access drives to the new deposit in 2012 to accelerate the new operation.
They identified the new deposit, East Deep, which is 300 meters northeast of current production site of Liese deposit. With the new deposit, Pogo’s total resource increases to 155 tonnes of gold based on 12.5 kilogram per 1 tonne ore. They keep exploration at East Deep deposit with expectation for further resource around the identified new deposit. The mine plans to keep annual 10-11 tonnes of production level. The mine, which is located in around 145 kilometers southeast of Fairbanks, started operation in 2006. Sumitomo Metal Mining controls 85% of the mine with 15% share by Sumitomo Corp. The mine makes dor??with around 94% of gold and around 6% of silver.Japan Steel Scrap Composite Prices (Sangyo Press)
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