Northern Star’s EKJV suspends mining at Raleigh after seismic event
Mining activity has been suspended at the Raleigh underground gold mine, in Western Australia, following a "significant" seismic response, joint venture partners Rand Mining and Tribune Resources reported on Monday.
The mine would be placed on care and maintenance in April, the companies added.
Rand Mining holds a 12.25% interest in the East Kundana joint venture (EKJV), along with Tribune Resources (36.75%) and Northern Star (51%).
The seismic response occurred around the 6 000 to 5 949 levels of the mine, with each of these levels sustaining substantial damage. It would require “significant rehabilitation” to re-establish access to these levels.
In the meantime, the southern mining area has been deemed unsafe and all underground mining activity in this area had stopped. Rand confirmed that no personnel were underground at the time of the firing.
EKJV has proposed a revised mining plan whereby underground mining is suspended at Raleigh in April, while the previous life-of-mine envisioned Raleigh’s production to continue to 2026.
During the care-and-maintenance period, EKJV would conduct a detailed assessment of the potential to restart mining. Additionally, Rand has asked that the EKJV engage an independent mining consultant to complete a review of the seismic event and the revised mining plan.
Underground mining at other deposits within the EKJV remain unaffected and were operating.
Rand’s share price fell 10% to A$2.11 a share, Tribune lost 13% of its value to trade at A$5.02 a share, while Northern Star traded 2% up at A$12.91 apiece.
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