Modern Mining September 2024

PDI eyes construction on Bankan in 2026.

Core samples at the Bankan Gold Project.

“The ongoing strengthening of the Board and Management Team is critical to our strategy of developing the Tier-1 Bankan Project in Guinea, currently the largest gold development project in Africa,” says Pardey. “Diederichs’ appointment adds considerable depth of expertise as PDI enters the permitting phase of the Bankan Project, as well as completing the Definitive Feasibility Study in 2025. Lavandeira also brings significant project expertise to the Board, and I look forward to his valuable contributions as we embark on the next phase of PDI’s growth strategy.” Pardey himself is an experienced gold miner who having been involved in gold, nickel and copper mining for most of his career, remembers a time, some decades ago, “when gold traded at below $200/oz and gold miners worried whether they would still have a job the next day”. “I have been in gold mining for a long time,” he says, “and have been through the boom-and-bust cycles. Over the years, we have learnt relevant lessons, with the most important being to maintain fiscal discipline, especially when gold prices are fantastic. Often, instead of continuing to focus on maximising returns when commodity prices are favourable, management becomes slack; which is why, even though the gold price has tracked some record prices to date and is currently trading at just over $2400/oz, we will remain vigilant in our spending.” Discussing timelines to project development, Pardey says that general earthworks and infrastructure development is scheduled to start in the first quarter of 2026, with construction of the processing plant earmarked for the second half of 2026 and commissioning in the second half of 2027, followed by commercial production in 2028.

Drilling at the Bankan project in Guinea.

grade of 1.64 grams per tonne, ” Pardey explains. The project is well placed within the highly prospective Siguiri Basin, which is also home to AngloGold Ashanti’s Siguiri gold mine, Robex Resources’ Kiniéro Gold project, Hummingbird Resources’ Kouroussa Mine and Nordgold’s Lefa mine. Advancing Bankan project development In line with progressing the Bankan project, the company made key appointments to strengthen its Board and management team. Alberto Lavandeira, who joined as Non-Executive Director, brings with him more than 45 years of development and operating experience across gold, copper and industrial minerals in Africa and Europe, while Sandra Bates Executive Director – Legal and ESG, strengthens PDI’s in-house legal, ESG and permitting expertise, and Henk Diederichs, Chief Operating Officer, is tasked with advancing the Bankan Gold Project through the Definitive Feasibility Study (DFS) phase and into development and operations.

SEPTEMBER 2024 | www.modernminingmagazine.co.za  MODERN MINING  13