Matala gold project, Zambia
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Name and Location
Matala gold project, Zambia.
Client
Alecto Minerals.
Project Description
Matala contains Joint Ore Reserves Committee-compliant mineral resources of 568 000 oz of gold. An additional 75 000 t of measured noncode-compliant mineral resources are present in recently identified historic dumps and tailings adjacent to the deposit.
A feasibility study on the project has demonstrated its positive economics.
The study envisages the potential to develop a low-cost, profitable, small-scale 400 000 t/y openpit mining operation at Matala and its satellite deposits, targeting the oxide and transitional ore. Ore, at the relatively high grade of 2.8 g/t gold, will be delivered to the run-of-mine pad, where a simple crushing, gravity and direct cyanidation process will be used.
The project has a 4.8-year mine life.
Net Present Value/Internal Rate of Return
The project has a net present value of $28.6-million, at an 8% discount rate, and an unlevered internal rate of return of 52%.
Value
The estimated capital cost of the plant is estimated at $14.4-million.
Duration
Not stated.
Latest Developments
Alecto has indicated that its development plan for Matala has been designed to be “rapid and robust”.
Taking advantage of the measured and indicated portions of the shallow oxide and transitional ores to reduce mining and process risk, a narrow slot cut along strike is planned to create an elongated pit with a reduced stripping ratio.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Alecto Minerals, Mark Jones, tel +44 20 7499 5881.
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