Modern Mining February 2018

MINING News

Alphamin upbeat on Bisie tin project The portal to the underground mine at Bisie. This photo was taken when ‘Modern Mining’ visited the site in October last year (photo: Arthur Tassell).

economy and bringing increased prosper- ity and governance to the people of North Kivu, whilst providing its shareholders with exceptional returns,” he adds. Bisie will produce on average 9 642 tonnes of tin per annum, at a cash cost of US$8 837 per tonne of tin produced and US$10 359 per tonne tin sold after duties, royalties, levies and marketing fees, gener- ating an average EBITDA of approximately US$110 million per annum. The project has a payback period of less than two years. Alphamin estimates it will be in the lowest cost quartile of all tin producers. According to Richard Robinson, Managing Director of Alphamin Bisie Mining (ABM) in the DRC, the project has been a catalyst for regional economic growth and holds more positive prom- ise for years to come. Alphamin has committed to spending 4 % of its in-coun- try operating and administrative expenses on community development. “This investment will be governed with representative input from local communi- ties and managed by the Lowa Alliance, a GDRC-regulated, not-for-profit foundation. Alphamin is implementing community projects, supported by the Alliance, which have been selected following an in-depth survey of the 13 500 households (approxi- mately 80 000 residents) across the 44 communities closest to Bisie. Alphamin will continue to preserve its legal rights to develop the ABM project and explore ways to assist artisanal miners to transition from illegal to legal status, conflict-free sites elsewhere in the region,” says Robinson. 

both an extraordinary financial return in a particular project and a whole host of developmental returns in the surround- ing region and in the country in particular,” comments Boris Kamstra, CEO of Alphamin Resources Corp. “Once Alphamin starts generating cash, it will retain some money to further its exploration activities. Ultimately, it is believed that this region can produce tin for well over 30 years. Alphamin will be written in the annals of mining and development through bringing Bisie into production, catalysing North Kivu’s and dedication of the team that the same group who founded the company in 2009 has overseen the entire development pro- cess from a greenfields discovery at Mako in late 2011 to first gold in six years,”he con- tinues. “We are proud of our track record of consistently meeting or exceeding our development targets over this period against a backdrop of challenging market conditions. “Russell White, Project Manager, sup- ported by his construction group, has achieved a remarkable result in not only delivering the Mako project ahead of schedule and under budget, but also doing so in a safe manner with project safety sta- tistics significantly bettering the national Australian standards over the 3,6 million man hours worked at the site.” 

In its latest update on its Bisie tin project in the DRC’s North Kivu Province, Alphamin Resources Corp, listed on the TSX-V, says it is happy with the progress being made with the project on track to deliver accord- ing to the mapped schedule. Production is expected to commence in 2019 with steady state operation being achieved towards the end of the year. “Alphamin is all about unlocking one of the richest tin deposits in the world and then – as a consequence – the entire North Kivu region of the DRC. This is a very rare opportunity where you have

Mako in Senegal starts producing gold Toro Gold, a private gold exploration and development company, has announced that first gold has been poured at its Mako mine in eastern Senegal. The mine is owned and operated by Petowal Mining Company SA, and a pour of 1 325 ounces (41,2 kg) was completed on 26 January 2018, which is approximately two weeks ahead of the planned date in the construction schedule. The company is now focused on implementing the continued ramp up of operations to achieve steady state commer- cial production through the first half of 2018. “We are delighted to be able to announce this significant milestone for the company both ahead of schedule and under budget,” comments Martin Horgan, Toro’s Chief Executive Officer. “It is a testament to the professionalism

8  MODERN MINING  February 2018