The Monetary Board announced that the Canadian company, Placer Dome is the first option for the exploitation of the sulfide deposits of the Rosario mine in the north central Cotui. Placer Dome is North America’s third largest gold mining company and the world’s fifth largest gold miner. Placer Dome competed with Australia’s MIM Holding for the right to exploit the Rosario sulfide concession. The Monetary Board says that Placer Dome will now carry out a feasibility study to determine where the residual wastes of the process will be deposited to have the least impact on the environment. Following this study, the final contract with the company would be sent to Congress for approval. Placer Dome proposes is to use traditional technology combined with bioleaching to extend the life of the mine another 30 years. An investment of US$336 million would be made. The concession is for 25 years. Reportedly, 403,000 ounces of gold and 2.2 million ounces of silver would be produced. Production would start 36 months after the signing of the contract.
