Modern Mining

Canada’s Teranga Gold Corporation, listed on the TSX and ASX, has produced a positive Feasibility Study (FS) on its permitted Banfora gold project in Burkina Faso, which it acquired last year as part of its acquisition of Australia’s Gryphon Minerals. Based on initial gold reserves of 1,2 Moz, the FS’s base case demonstrates solid project economics with a 15 % internal rate of return at US$1 250 per ounce gold for a 2,4 Mt/a CIL processing facility modelled after the plant located at Teranga’s Sabodala gold operation in Senegal.

Pan African Resources has broken first ground at its Elikhulu tailings retreatment project in Evander, Mpumalanga, officially marking the start of construction of the plant which is expected to produce an average of 50 000 ounces of gold per year for the next 13 years.

Platinum Group Metals (Platinum Group), listed on the TSX and NYSE American, has announced that it has entered into a term sheet to sell Maseve Investments 11 Proprietary Limited (Maseve) to Royal Bafokeng Platinum Limited (RBPlat). The transaction is valued at approximately US$74,0 million, with US$62,0 million payable in cash and US$12,0 million in RBPlat common shares. The cash proceeds of the sale will be used to repay debt.

Robert Friedland, Executive Chairman of TSX-listed Ivanhoe Mines, and Lars-Eric Johansson, Chief Executive Officer, have jointly announced that negotiations are underway with government agencies – Gécamines, the state-owned miner and Ivanhoe’s partner at Kipushi, and SNCC, the DRC’s national railway company – and potential project financiers to advance agreements to launch a new era of commercial production at the upgraded Kipushi mine in the DRC.

A Definitive Feasibility Study (DFS) by ASX-listed Walkabout Resources (WKT) for a proposed open-pit mine and graphite processing plant at its Lindi Jumbo graphite project in Tanzania was released to the ASX in February this year. Following the subsequent Tanzanian legislative changes and further metallurgical testwork, WKT has released an update to the DFS.

Caterpillar has announced that B2Gold Corp, reportedly one of the fastest-growing gold producers in the world, has selected the company and Cat® dealer Barloworld to supply 7 MW of solar power at the Otjikoto mine in Namibia.

Contact Modern Mining

Title: Editor
Name: Arthur Tassell
Email: mining@crown.co.za
Phone: +27 11 622-4770
Fax: +27 11 615-6108

Title: Advertising Manager
Name: Bennie Venter
Email: benniev@crown.co.za
Phone: +27 11 622-4770
Fax: +27 11 615-6108

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