Modern Mining November 2015

MINING News

True Gold on track for gold production at Karma

and is funded through construction to production. The mine fleet has been deployed to GGII after completing significant exca­ vation of bulk earthworks at the mine’s processing and storage ponds. Operators of the mining equipment are experienced from the excavation of the processing and storage ponds, and are now trained and ready for production work. Excavation of Cells 1, 2 and 3 of the heap leach pad is substantially complete. Civil construction is ahead of schedule. The raw water and pregnant leach ponds are in place and the 4 km pipeline from the bar­ rage to the site is now being used to pump water to these ponds, ensuring the process­ ing plant start-up requirements are met. At the plant site, construction of the cya­ nide mixing area is complete with all civils and tanks in place. The hard rock crusher has been commissioned and is producing aggregate for the drainage layer of the heap leach pads. The ADR building struc­ tural steel is 100 % complete. Installation of siding and roofing is progressing quickly, as well as piping and electrical. 

A recent view of the Karma project, which will produce approximately 120 000 ounces a year of gold in its first five years of operation (photo: True Gold).

True Gold Mining Inc, listed on the TSX-V, reports that mining has commenced at the Goulagou II (GGII) deposit at the Karma goldmine in Burkina Faso. The GGII deposit is the first of six deposits that will be mined over an 11,5-year period. The company remains on track for gold production at the end of Q1, 2016. The GGII deposit has reserves of 273 000 leachable ounces of gold (contained in 7,6 Mt at 1,12 g/t gold) and will be mined during the first two years of production. “As we transition into gold production over the next few months, our team is increasingly focused on operational readi­ ness,” states Christian Milau, President and CEO of True Gold. “Karma will produce approximately 120 000 ounces of gold per

year during our first five years at the lowest quartile of cash costs, laying the founda­ tion for True Gold to become a mid-tier producer.” Karma mine construction is rapidly progressing with nearly 1 000 employees and contractors active on site. Overall, the project is approximately 73 % complete

Australia’s Resolute Mining has executed an agreement to divest the company’s residual interests and assets in Tanzania. The divestment decision follows the clo­ sure of Resolute’s Golden Pride mine in late 2013 and the subsequent completion of Resolute Mining wraps up in Tanzania the decommissioning and rehabilitation of all elements of the company’s operations. As agreed with the Government of Tanzania, the mine site and all remaining infrastructure was formally handed over to the Madini Institute at a ceremony on 12 December 2014 to enable the establish­ ment of a mining institute of learning.

Kalongwe copper project granted mining licence ASX-listed Regal Resources says that it has been informed by KalongweMining SA (KM) – in which it has a 30 % interest – that the DRC Minister of Mines, Martin Kabwelulu, has signed an‘Arrêté Ministériel’granting an exploitation (mining) licence in accordance with the DRC Mining Code.

Resolute began construction of the Golden Pride mine, the first modern gold mine in Tanzania, in 1997 and operated the mine for 15 years, successfully producing more than 2,2 million ounces of gold. MD and CEO John Welborn says the compa­ ny’s exit from Tanzania has closed a proud chapter in Resolute’s history. “Golden Pride was a strong driver of value for Resolute and demonstrates the company’s ability to profit from our expe­ rience in Africa. Resolute is a responsible and experienced owner and operator of quality gold mines and we are increasingly recognised, particularly in Africa, as a part­ ner of choice for governments and local communities,” he says. 

tion of the efforts by the three JV partners GICC, Regal and Traxys. The licence pro­ vides an additional level of confidence that a mining operation will be developed at Kalongwe and further de-risks the project. A DFS has commenced and recent metal­ lurgical testwork results are expected to have a positive impact on the financial parameters for the study.” The Kalongwe project is located 45 km from Kolwezi (and 15 km from Ivanhoe’s Kamoa discovery) in Katanga and hosts a near-surface oxide JORC resource of 302 000 t contained copper and 42 000 t contained cobalt, with an average copper grade of 2,71 % Cu. 

The licence granted to KM covers the entire KM permit, an area of approximately 8 km 2 . It is valid for an initial term of 30 years and can be renewed for additional periods of 15 years. Comments David Young, Regal’s MD: “The granting of a mining licence repre­ sents a major milestone for the Kalongwe Mining Joint Venture and is the culmina­

10  MODERN MINING  November 2015