Photo by: Bloombeg
PERTH (miningweekly.com) – ASX- and TSX-listed Alacer Gold has reported a 15% decrease in output to 53 728 oz for the quarter ended September, compared with the 63 356 oz produced in the previous corresponding period, as contained gold ounces in oxide decreased by some 65% at the Çöpler gold mine, in Turkey.
Production at Çöpler was also affected by a 19% decrease in mined oxide ore during the quarter.
“Çöpler delivered another solid quarter with gold production of 53 728 oz and all-in sustaining costs of $672/oz. Çöpler achieved both significant safety and operating successes during the third quarter, reaching over 7.2-million man hours worked without a lost-time injury and producing its one-millionth ounce of gold,” said Alacer CEO and president Rod Antal.
Cash operating costs for the quarter were also 6% lower at $499/oz, with the decrease reflecting lower mining costs, which were partially offset by the expected decline in oxide ore grades. Total cash costs per ounce during the quarter were 7% lower than the previous corresponding period, at $517/oz.
In the year-to-date, the Çöpler mine produced 158 434 oz of gold, which was down 5% on the previous corresponding period, as total material mined decreased by 2% and contained ounces in oxide decreased by 14% over the same period.
Total cash costs for the year-to-date were 19% lower than the previous corresponding period, at $449/oz.
Antal pointed out on Monday that some key sulphide project milestones were also met during the quarter under review, with Alacer signing a $250-million project finance facility, starting earthworks on the permitted plant site and signing a letter of intent for the oxygen plant.
“All of these accomplishments further derisk the sulphide project and move us closer to starting construction. The necessary land use permits are now the critical path for the project,” Antal added.
The $660-million sulphide project would consist of the introduction of a whole-ore pressure oxidation (POX) circuit that would extend the life of the mine and boost current resources and reserves.
The POX facility was expected to process sulphide ore at a rate of 5 000 t/d and would result in a 20-year mine life for the project.