Nordgold reaches out to South America – the company to work in French Guiana

Nordgold of Alexei Mordashov may become the first Russia gold producer in South America. The company received an option for joint with Canadian Columbus Gold development of the large deposit Montagne d'Or in French Guiana. Experts note that Nordgold has to resort to overseas expansion because the resource base in Russian and the CIS states has been distributed among other players and potential of the reserves increase at Nordgold’s projects is small.

The gold-mining company Nordgold, controlled by Alexei Mordashov, has received a three-year option from Canadian Columbus Gold Corp for purchase of 50.01% of the company Sotrapmag Sas’ shares, which owns a license for the Montagne d'Or deposit in French Guiana (South America). The predicted resources of Montagne d'Or are 4.15 million ounces of gold, the metal content is 2.2 g per ton.