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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).