Theta buys ball mill for S African project
PERTH (miningweekly.com) – Gold developer Theta Gold Mines has secured a second-hand 2.5 MW ball mill for its namesake project, in South Africa, at a price of R5.5-million.
The ASX-listed company on Wednesday reported that the mill could process up to 820 000 t/y, and could readily accommodate future mining expansions.
Theta chairperson Bill Guy noted that an equivalent new 2.5 MW ball mill with spare parts would cost nearly A$5.5-million, and would take up to 40 weeks from order to delivery.
“Instead, Theta has managed to secure a second-hand mill in excellent condition, and with an inventory of vital spare parts for less than A$800 000, and pleasingly, it can be relocated to the Theta gold mine processing plant by January 2020.”
The mill was previously operational at diversified miner Glencore’s smelters in Rustenburg.
Guy said that the purchase also provided certainty of grinding capability for the mine, and being larger than initially planned in the feasibility study, allowed for future throughput increases.
“Securing this ball mill marks another key milestone towards first production,” he added.
The earlier feasibility study at the Theta project estimated a total capital cost of $34.3-million over the five-year mine life, and would produce more than 200 000 oz of gold at an all-in sustaining cost of $764/oz, delivering life-of-mine revenues of $252.6-million and earnings before interest, taxes, depreciation and amortisation of $99.6-million.
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