Sept 24 Canadian gold producer McEwen Mining Inc
began production at its El Gallo mine in Mexico, and
said phase I of the mine is expected to produce 10,000 ounces of
the metal during the rest of the year.
The company, which completed a feasibility study for phase
II on Sept. 10, forecast 2013 phase I annual production at
The Mexico mine is the company's second mine to start
production after the San José mine in Argentina.
Spot gold was down 0.5 percent at $1,764.81 an ounce
at 1341 GMT, while U.S. gold futures for December
delivery were down $11.20 an ounce at $1,766.80.
Shares of the company, which was earlier known as US Gold
Corp, were down 3 percent at C$4.59 on Monday on the Toronto