Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the successful power line connection of its El Aguila Project in Oaxaca, Mexico to the Federal Electricity Commission’s (Comisión Federal de Electricidad or CFE) power grid.
Image: A gold mineral. Photo: courtesy of carlos aguilar/Freeimages.com.
Prior to this connection, the Aguila Project operated 100% from electricity generated from more expensive and higher emission diesel fuel. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
The new power line improves local infrastructure allowing for first time access to electricity to approximately 25,000 families along the route. Future expansion along the route to additional families and businesses is also expected over time. The Company’s ability to also connect to this line substantially reduces its environmental impact by reducing local carbon emissions by more than 90 tonnes.
Source: Company Press Release