Modern Mining July 2015

MINING News

Roxgold Inc, listed on the TSX-V, has mobil- ised its underground mining contractor, a subsidiary of African Underground Mining Services (AUMS), to its Yaramoko gold project in Burkina Faso, West Africa. The previously announcedmining services con- tract entered into with the underground mining contractor has an initial termof four years and includes the provision of a min- ing fleet and skilled labour force. Roxgold mobilises mining contractor to Yaramoko As previously announced, African Underground Mining Ser vices Ltd (AUMSG) will make an initial investment in the company of US$5 million by means of a non-brokered private placement. Upon closing of the private placement, AUMSG will hold approximately 3 % of the issued and outstanding common shares of Roxgold on an undiluted basis. “We are very pleased to welcome

AUMSG as a shareholder of Roxgold,” comments Paul Criddle, Roxgold’s Chief Operating Officer. “The alignment of inter- ests between Roxgold and a key contractor bodes well for the smooth operation of the Yaramoko gold project, development of which has been progressing very well.” AUMS is a joint venture between Ausdrill Limited, a leading international mining services business, and Barminco Limited, a specialist underground mining contractor. Yaramoko, which is costing US$110,8 million to develop, will have an estimated average annual gold production of nearly 100 000 ounces over an initial mine life of 7,4 years at an all-in sustaining cost of US$590/oz. The average mill feed grade is expected to be 11,59 g/t with the average gold recovery being 96,9 %. The EPC contractor tasked with deliver- ing the 270 000 tonnes per year processing plant and related infrastructure is a DRA/ Group Five joint venture. 

Earthworks in progress for the boxcut at Yaramoko (photo: Roxgold).

16  MODERN MINING  July 2015