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Lundin to expand operations after Fruta del Norte starts production

Lundin Gold Inc. is eyeing an annual output of up to 1.0 million ounces per year from three or four projects, Reuters reported March 5, citing CEO Ron Hochstein.

Hochstein said that development in the future will be focused on the North and Latin American regions.

Lundin is currently developing the Fruta del Norte gold project in Ecuador, which is expected to achieve first production by the end of 2019.

The company previously said it would like to acquire a gold asset in the Americas, estimated to cost US$500 to US$1 billion, after Fruta del Norte is up and running.