Eldorado Gold

Title: Eldorado Gold
Category: Mining
Clicks: 8
Added on: Nov 27, 2011
Eldorado Gold is a Canada-based international producer of gold with development projects and six operating mines. It was established by Gary D. Nordin in 1991 and acquired the Tanjianshan gold mine in 2005, situated in the Chinese Qinghai Province. Commercial production at the Jinfeng mine started in 2007.

The company operates in Brazil, Turkey, Greece, and China and takes pride in being among the lowest cost gold producers, with a strong balance sheet, robust margins, and new mines. Eldorado Gold pays a semi-annual dividend, which is based on gold ounces sold as well as the realized prices. The company pursues further growth by exploring and creating new opportunities for exploiting gold and other mineral resources. It is listed on TSX under the ticker symbol ELD and on NYSE under EGO. Among its competitors are Zijin Mining Group Co., Ltd., Mediterranean Resources Ltd., Alacer Gold Corp., and others.

Eldorado Gold has 6 operating mines, two of which are found in Turkey. The Kişladağ gold mining operation is situated in the Uşak Province and was a greenfield discovery of the company. It is the largest gold mine on the territory of Turkey. Another mine in Turkey is the Efemçukuru gold mine, which is situated in the Izmir Province. Deposits here are suited for exploitation through underground mechanized mining. The ore in the mine is processed via flotation concentrate circuit and milling. The Jinfeng gold mine is found in Guizhou Province and is an underground, open pit mine in China. The Vila Nova mine and White Mountain mine are two other mines operated by Eldorado Gold. The first is an underground gold mine found in the Chinese Jilin Province. The mine is exploited through a cut-and-fill stopping mining technique. Commercial production started in 2009. Vila Nova is a mining operation found in the Brazilian Amapa State. It is an iron ore, open pit mine, and its processing facility produces sinter fines and lump ore. Trial mining began in 2010. This is the only iron mine of the company, and the other five are gold mines.
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