Syama underground gold mine project, Mali
Name and Location
Syama underground gold mine project, Mali.
Client
Resolute Mining.
Project Description
An independent revision of the underground prefeasibility study (PFS) at Syama has delivered a significant increase in underground ore reserves, incorporating recent high-grade results from diamond drilling conducted in 2014, including the previous Stage 2 openpit resource.
The updated underground ore reserve has increased to 25.5-million tonnes at 2.8g/t for 2.3-million ounces of gold, with probable ore reserves expected to extend mining until at least 2028.
The significant increase in underground ore reserves supports the early transition to a large-scale sublevel cave underground operation.
Net Present Value/Internal Rate of Return
The updated PFS indicates a net present value, at a 10% discount rate, for $189.4-million and an internal rate of return of 42% at a gold price of $1 200/oz, with a payback of 3.8 years.
Value
Preproduction costs are estimated at $1.68-billion.
Duration
In the first half of the 2016 calendar year, a planned portal within the pit will provide early access for accelerated development.
Latest Developments
Resolute has started the project work required for a definitive feasibility study (DFS) to facilitate an early decision to start underground mining. The DFS is due for completion in the March 2016 quarter.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Resolute Mining, tel +61 8 9261 6100, fax +61 8 9322 7597 or email contact@rml.com.au.
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