No expense is harder to control than labor, typically accounting for 25% to 35% of costs in such mine construction and most of the overruns.
In the meantime, the company redeployed its project development team to Leach Pad 3 construction at Dolores mine, as well as an evaluation of potential expansion opportunities at the La Colorada and Dolores mines.
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While waiting for heavy construction to begin on the mine, Manson believes Stornoway is sitting on a significant asset.
All other significant activities at the mine are also on hold, including construction of the No. 4 Shaft and a bypass around a rock burst from December.
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In September, Agnico-Eagle approved the development and construction of the La India mine project in Sonora, Mexico, with commercial production expected in the second half of 2014, with a mine life of eight years forecast.
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Meanwhile, his own company, McEwen Mining (MUX), is aiming to begin construction on the El Gallo 2 mine in Mexico later this year, McEwen said.
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Along with strong financial backing, the Quebec Lithium open pit mine is on schedule in terms of commissioning and construction.
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Romarco will focus on acquiring permits and continuing to drill the Hail Mine throughout 2012 with the goal of entering into construction in 2013.
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As for his current company, McEwen Mining commissioned the El Gallo 1 mine in Mexico last month and hopes to begin construction in the third quarter of this year on El Gallo 2.
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Yet even though the mine has not yet started producing, Mr McRae says its very construction has already benefited Mongolia's economy.
Barrick acquired Equinox in 2011 and with it came Jabal Sayid, a project in construction in Saudi Arabia, and Lumwana with a producing mine in Zambia.
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The firm said the construction phase would create hundreds of new jobs while the surface mine site could be tapped for geothermal energy to provide heating and cooling for the homes.
The most recent violence at Lonmin spun from a rivalry between the emerging Association of Mineworkers and Construction Union, or AMCU, and NUM, the country's largest mine union, who are competing for majority union membership in South Africa's platinum mines.
Construction and development of Serra Pelada has gone on for about a year and the mine is on schedule for production in mid-2013.
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Paddy Gorman, spokesman for the Construction, Forestry, Mining, and Energy Union, said none of the miners at Agnew Gold Mine in resource-rich Western Australia state is a member of the mining union.
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