Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – LSE-listed Acacia Mining has received the final approval from the Tanzanian Vice-President’s Office to start mining at the Gokona underground project, which formed part of the larger North Mara mine.
Commercial production at the Gokona underground project was expected to start late in the second quarter of the year. It would produce 450 000 oz of gold over a five-year life span, with all-in sustaining costs of below $750/oz.
Production at North Mara, for the five years, would comprise a blend of high-grade underground material from Gokona and openpit material from the Nyabirama pit. This would enable North Mara to sustain production rates in excess of 250 000 oz/y of gold.
“We are delighted to have received the approvals to commence commercial production from the Gokona underground project.
“This project is reflective of our new approach to operating our assets whereby we have re-engineered the mine to drive free cash flow and, at the same time, have significantly reduced the mine's footprint which helps our relationships with the communities around the mine,” commented CEO Brad Gordon.