October 24, 2011 / 11:23 AM / in 6 years

UPDATE 1-Dynacor to build second gold-ore process plant in Peru

Oct 24 (Reuters) - Canada’s Dynacor Gold Mines Inc will build its second gold-ore processing facility in Peru with a capacity of up to 430 tonnes per day.

Dynacor plans to start building the facility in 2012 with an initial capacity of 300 tonnes per day.

The company, which buys gold from smaller miners in Peru, intends to fund the $4.5 million budgeted for the facility through debt and working capital.

Dynacor expects to produce about 60,000 ounces of gold per year at the new plant. (Reporting by Abhiram Nandakumar in Bangalore)

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