Modern Mining April 2020

MINING News

Updated life of mine plan for Edikan Gold Mine

Perseus Mining Limited (ASX/TSX: PRU) has announced details of its updated life of mine plan (LOMP) for its Edikan Gold Mine in Ghana, West Africa. The LOMP covers the period from 1 July 2020 and is based on the company’s revised mining strategy that was implemented in January 2019 involving use of a single mining contractor, mining at a reduced rate of total material movement. Costs, recoveries, mill throughput rates and run times have been updated to reflect recent performance. The LOMP is based on the revised ore reserves reported on 20 February 2020 which included Proved and Probable Ore Reserves as at 31 December 2019 of 45,7-million tonnes of ore, grading 1,10 g/t gold and containing 1,608 kozs of gold. Ore loss and dilution included in the estimate of ore reserves is based on recent mine to mill reconciliation results. Comparisons of ore tonnes and grade by Edikan’s Mineral Resource models rela- tive to ore tonnes and grade delineated by grade control, indicate that the min- eral resource estimates on which the ore reserves are based are reliable predictors of ore tonnes and grades. The Esuajah South Underground mine has been included in the LOMP, employing a sub-level stoping under rock fill (SURF)

mining method. Development capital of US$31-million has been assumed. Gold production averages 212 000 ounces/annum over Edikan’s currently estimated mine life of 6,2 years from 1 July 2020, including gold production of approxi- mately 231 000 ounces/annum on average over the next 4 years. The altered produc- tion profile relative to the previous LOMP is largely due to the addition of Esuajah South Underground and a significantly larger AG Open Pit. Total estimated gold production of 1 307 000 oz over the life of mine is 95% higher than the amount estimated for the corresponding period in the previous LOMP. The substantial increase is largely due to the addition of Esuajah South Underground and a much larger AG Open Pit.

Forecast weighted average all-in site costs, including all direct production costs, royalties, waste stripping costs and sustain- ing capital expenditure (AISC), are in the range of US$870-US$890 per ounce over the remaining life of mine. This represents a 5% decrease in average AISC relative to the previous LOMP, over the correspond- ing period. Forecast sustaining capital costs (including the cost of site rehabilita- tion) of US$37-million or US$28 per oz are included in the AISC estimate.  Sibanye and Impala Platinum co-develop new tri-metal catalyst

Gold production averages 212 000 ounces/annum over Edikan’s currently estimated mine life of 6,2 years from 1 July 2020.

BASF has successfully developed and tested a tri-metal catalyst technology that enables partial substitution of high-priced

of the tri-metal catalyst can reduce cata- lytic converter costs for automakers and partially rebalance market demand for PGMs, thereby enhancing the PGM market sustainability. To date, the new technology has met technical customer specifications dur- ing extensive development and testing undertaken by BASF. “We are excited to announce the successful outcome of this collaboration with Sibanye-Stillwater and Impala Platinum to develop this new technology,” says Matthias Dohrn, senior vice president, Precious and Base Metal Services, at BASF. “The tri-metal catalyst is intended to create greater supply certainty for our customers and potentially reduce their costs.” Slightly more palladium is produced annually than platinum. However, current demand for palladium from the automotive catalytic converter industry is about three

palladium with lower-priced platinum in light-duty petrol vehicles without com- promising emissions standards. Adoption

Barrick joins fight against Covid-19 in Zambia Barrick Gold Corporation’s country man- ager for Zambia, Nathan Chishimba, has handed a cheque for US$530 000 to Minister of Health Hon Dr Chitalu Chilufya, Minister of Mines & Mineral Development Hon Richard Musukwa and Provincial Minister Hon Nathaniel Mubukwanu. The donation is designed to support the country in combating and containing the Covid-19 pandemic.

we would also like to make a contribu- tion to the government’s fight against the pandemic. We are consequently funding the provision of medical equip- ment to the value of US$340 000 at the national level, US$100 000 for the North- Western province and US$90 000 for the Kalumbila district,” he said. Barrick’s chief operating officer for Africa and the Middle East, Willem Jacobs, said the company was engaging with Zambia’s national Covid-19 taskforce to convert its support into immediate action. Its senior management in Zambia was already working closely with the local health authorities. 

At the ceremony, Chishimba said Barrick had already introduced extensive measures to protect workers and their families living in and around its Lumwana mine against the virus. “As a committed partner to Zambia

4  MODERN MINING  April 2020