Troy Resources Acquires $1.1-Billion in Equipment for Gold Mine in Guyana
Gold producer Troy Resources Limited (ASX:TRY) (TSX:TRY) has purchased $1.1 billion in mining equipment for its Karouni Gold mine in Guyana. The acquisition will aid the Australian-based company in commencing production of the $87 million project by next year.
The mining equipment, which is manufactured in South Korea by Doosan and sold by Farm Supplies, will include 12 Doosan DA40 trucks and three Doosan DX 500 excavators. The purchase will also include training for its Guyanese operators and technicians in the operating and maintenance of the equipment.
“With funding in place and all major long lead items ordered, the Company is confident that Karouni will be the first of the new large gold mines coming into production in Guyana over coming years,” said Troy Resources Managing Director Paul Benson.
Troy Resources is currently preparing for the construction phase of The Karouni project, setting up a ball mill, mine operations, employee housing and other infrastructure. Once in production, the mine is expected to produce 90,000 ounces of gold a year and a total of 633,000 ounces during its life time.
According to Benson, the Karouni project will benefit the Guyana Government and locals by generating employment and local infrastructure.
“Karouni will have a major beneficial impact on the economy of Guyana through the creation of jobs and payments of taxes and royalties. In particular, we would like to acknowledge the very strong support received to date from the Government of Guyana and the different agencies and look forward to their continued assistance in bringing the mine into early production."
Once in production, the mine is expected to employ roughly 300 workers.
The construction phase of the project is slated to be completed mid 2015 with production commencing in February 2015.
Coal India Secures First-Of-Its-Kind Digital Deal
Coal India Limited (CIL) has appointed Accenture Solutions to digitally transform seven of its open-cast mines as the company strives to improve performance and increase coal production. Accenture is due to lay down digitalisation groundwork until March 2022.
The deal aims to increase coal production by 100 million tonnes (MT) by the end of FY’23. Once the minimum quantity has been surpassed, an agreed sum will be paid to the consultant for every additional sum of coal produced. This success fee will only be paid on the procurement of the minimum assured quantity.
The move will see heavy earth moving machinery (HEMM) fitted with digital sensors to monitor performance efficiency at all levels. Additionally, modern data analytic techniques aim to increase mine productivity and project monitoring through functional system management and effective observation.
An Exciting Venture For Global Mining
CIL, which aims to provide energy security in an environmentally and socially sustainable manner, hopes the move will help transform the entire business of mining operations and ensure higher volumes of coal are acquired at a lower cost.
“This is a first of its kind initiative by the company utilising digitalisation to ramp up coal output,” CIL has said.
A Digital Step Towards Enhanced Performance
Digitalisation is expected to take place at open-cast mines in Kusmunda, Gevra, Dipka of Southern Eastern Coalfields (SECL), Migahi, Jayant, Dudhichua, and Khadia of Northern Coalfields (NCL). Nearly 32% (188 MT) of CIL’s 596 MT output in FY’21 was accounted for by the seven selected mines. However, this new deal is set to see a large increase following the subsequent digital changes due to be made.
“Learning from the outcome and success of this model, we may replicate it in our other large mines,” says CIL, optimistic about the future following the modernisation of their mining.
It is expected that the move will help address roadblocks and guarantee corrective measures are put into place, ensuring the company is able to move forward with its aim of increasing output whilst remaining sustainable and eco-friendly.