on into five open cast and underground mines and four metallurgical plants.
CAG acquired an 84,7% stake in Falgold for US$6,2 million and the entire issued share capital of Olympus Gold Mines, a privately-owned gold mining company, in March.
The company, which owns about 577 000 ounces of gold reserves in the country, announced after the takeover that it was planning to explore about 13 000 hectares of gold reserves in the country.
19.7.2007
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New gold mine planned
CENTRAL African Gold has announced plans to develop a new gold mine in Zimbabwe. According to a report the group's website, CAG's chief executive officer Greg Hunter said the mine would raise local gold output to 100 000 ounces per year in the next five years through the injection of US$30 milli