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MODERN MINING
November 2015
MINING News
Tantalite Valley process plant commissioned
Kennedy Ventures plc, which is focused on
tantalite production in Namibia through its
75 % holding in African Tantalum (Aftan),
has announced the successful and within
budget commissioning of Aftan’s tantalite
process plant at the Tantalite Valley project
in southern Namibia.
The mine is now virtually fully staffed,
with a full water supply, and has been
restocked with additional spares to mini
mise any future mechanical downtime. It is
expected that new underground produc
tion will be available for processing shortly.
Plans have been put in place to expedite
output and first deliveries to an offtaker are
anticipated this month (November).
It is expected that production will now
ramp up to an initial target rate of 10 500
tonnes per month, estimated to produce
around 5 000 lb Ta
2
0
5
per month in the sec
ond quarter of 2016.
Says Peter Hibberd, CEO of Kennedy
Ventures:“We are delighted that production
of ‘conflict free’tantalum has recommenced
at the mine. This is a major milestone
as Aftan continues to progress towards
becoming a material producer of tantalite.
We look forward to making our first deliv
ery to our off-taker in the near future. Initial
indications from the mine have confirmed
that Aftan’s targeted production levels
remain realistic and achievable.”
Randgold Resources’Tongon gold mine in
Côte d’Ivoire has paid off its shareholders’
loans of US$448 million, used to partially
fund its capital investment of US$580
million, thereby moving it into a dividend-
paying position.
Speaking recently at the mine’s quar
terly briefing for local media, Randgold
Chief Executive Mark Bristow described
this as a significant achievement, particu
larly in the context of a global gold mining
industry currently characterised by capital
write-downs and impairments.
“Tongon has already paid close to
US$90 million to the Ivorian state in the
form of royalties and taxes and the coun
try will now benefit even more from the
dividends the government will receive
through its 10 % carried interest in the
mine as well as the increased revenue
when Tongon starts paying full corporate
tax at the end of this year,”Bristow said. He
The processing plant at the Tongon gold mine in Côte d’Ivoire (photo: Randgold Resources).
Tongon gold mine passes major milestone
noted that since its commissioning five
years ago, Tongon had also contributed
more than US$600 million to the Ivorian
economy in the form of payments to local
suppliers and had invested almost US$6
million in community upliftment projects.
“Ongoing exploration around Tongon
has increased its reserves after depletion
by 18 % since 2009, extending its remain
ing life by another year. We also continue
to look for more multi-million ounce
deposits elsewhere in this highly prospec
tive country, and we are about to launch
our biggest-ever exploration drive in Côte
d’Ivoire. This will include a fresh look at the
Nielle permit, which hosts Tongon, and a
geophysical survey, followed by a diamond
drilling programme, across our holdings in
the north of the country,” he said.
He also cited Tongon as a particularly
good example of the success of Randgold’s
policy of recruiting, training and empow
ering nationals of its host countries to run
world-class mines in Africa. The mine’s
workforce is 97 % Ivorian and only two
members of its management team are not
Ivorians.
Tongon has won the President’s Award
as the best mine in Côte d’Ivoire for two
successive years.