Global projects and exploration
successfully operated Fort Knox’ s current heap leach during the past 10 years.
The project plan requires minimal construction of new infrastructure and new equipment purchases and has been optimised for lower initial capital costs. This includes continuing to mine using Fort Knox’ s current fleet and leveraging assets from the company’ s other North American operations as replacement equipment is required. Kinross expects to finance the initial capital costs of the project using Fort Knox’ s cash flow.
Early construction work on the new heap leach and dewatering is expected to begin in quarter three of 2018, with stripping commencing in 2019. Initial production from Gilmore is expected in early 2020, with approximately 5 % of Gilmore ore expected to be stacked on the existing pad. About 95 % of Gilmore ore is expected to be stacked on the new heap leach pad, with stacking commencing in late 2020. Currently, milling at Fort Knox is expected to end in late 2020.
China Rio Tinto continues Asian growth
Rio Tinto has partnered with Chinese company Minmetals to form a 50:50
joint venture that will explore for worldclass mineral deposits in China. According to J-S Jacques, CEO at Rio Tinto, Minmetals is an increasingly important player in the global mining industry.“ Our complementary strengths in exploration put us in the best possible position to find metals and minerals essential to human progress,” says Jacques.
China Minmetals Corporation president Guo Wenqing said,“ The collaboration is very significant to Minmetals. Rio Tinto has rich prospecting experience and great discoveries worldwide, while Minmetals has solid technical expertise and extensive experience— the two strong partners will drive breakthroughs, pioneer progress, and promote the exchanges and collaboration of the global resource industry,” says Wenqing.
Argentina Cap-Oeste on optimisation drive
Patagonia Gold— the mining company with gold and silver projects in the southern Patagonia region of Argentina, Chile, and Uruguay— has released an update on the company’ s production for quarter one 2018 at its Cap-Oeste project in Argentina.
During this period, production at Cap-Oeste totalled 10 662 ounces( oz) gold and silver at an average cash cost of USD693 / oz and USD756 / oz, including depreciation and amortisation.
According to a press release, the team at Cap-Oeste continues with efforts to optimise the production process, while the installation of the new crushing circuit to reprocess the material already stacked on the leach pad is completed.
Patagonia is using the proceeds from gold sales at Cap-Oeste to complete the payment of the new crushing circuit, as well as reduce its net debt position.
Patagonia is primarily focused on its flagship Cap-Oeste project in Santa Cruz and the recently acquired Calcatreu project in Rio Negro. In addition, it is carrying out exploration in Manchuria and Sarita in Argentina and San Jose in Uruguay.
Patagonia Gold, indirectly through its subsidiaries or under option agreements, has mineral rights to more than 220 properties in several provinces of Argentina, Chile, and Uruguay and is one of the largest landholders in the province of Santa Cruz, Argentina.
Kenya Kwale enters phase 3
Phase two of the Kwale Mineral Sands expansion project in Kenya has been completed successfully. Australian mining company Base Resources awarded the contract in June last year and the scope of work included civil works for the new plant’ s operational areas, including fabrication and installation of steel structures to extend the process buildings, as well as installation of the new gravity separation units and the associated piping. South Africa-based Stefanutti Stocks Mechanical( SSM) won the tender to complete phase two last year.
According to Marius Botes, managing director of SSM, early involvement in the constructability planning of the Kwale Phase Two Project( KP2) was provided by seconding senior team members to work in the client’ s Australian offices.“ This resulted in complete synergistic alignment of all parties involved,
Base Resources has completed phase two of its Kwale Mineral Sands expansion project in Kenya.
enabling improved pre-planning that, in turn, led to significant risk mitigation, and time- and cost-savings for the client,” says Botes.
“ Unlike working in South Africa, the logistics involved in this project were highly complex, as all the required steel had to be containerised and shipped to Kenya. We knew— based on the nature of the project— that precision and accurate pre-planning would be critical. We therefore engaged a specialised team with substantial pan-African logistical experience,” says Botes.
Stefanutti Stocks
[ 10 ] MINING MIRROR AUGUST 2018