Kalgoorlie gold mine expansion plans for Resolute mining
Resolute Mining has started to focus on its underground gold mining operations at Syama, in a move to secure the future of its biggest asset.
Reviewing its Syama mine plan situated in Mali, Resolute is now announcing a deferral on a previous open pit expansion. It plans to have access to underground ore, which will deliver a big return on capital investment and a better cash flow income stream given the subdued gold price scenario we are experiencing in 2015.
Resolute is updating an underground study to incorporate the outcome of a successful drilling program to be completed next quarter, with expectations the mine could reach its full production potential in 2017,
The mine will be kept brimming with pit ore, sulphide ore from satellite pits, lower-grade stocks and development ore from the new underground development.
“The earlier move to underground mining is an excellent result as it takes us immediately to the long-term mining plan for Syama and in the current gold price environment is a much more capital efficient outcome, while maintaining gold production levels,” Resolute chief executive Peter Sullivan said.