May 17, 2020

Aureus and MNG Gold agree $30million financing to restart New Liberty Mine

Aurues Mining
MNG Gold Jersey Ltd
West African mining
Dav
Dale Benton
2 min
Aureus and MNG Gold agree $30million financing to restart New Liberty Mine
Aurues Mining has announced that an agreement has been reached with MNG Gold Jersey Ltd for $30million in equity financing to help fund the restarting o...

Aurues Mining has announced that an agreement has been reached with MNG Gold Jersey Ltd for $30million in equity financing to help fund the restarting of operations at the New Liberty Gold Mine in Liberia.

The agreement will see MNG Gold become a 55% shareholder in Aureus, with the equity funding to be used to enable the restart of operations at the high grade gold deposit.

MNG Gold has exploration, development and production assets in Turkey, Burkina Faso and Liberia.

David Netherway, Chairman of Aureus Mining, has welcomed the agreement following a difficult few years for the company.

“Within five years, the Aureus team has overseen the exploration, development and commissioning of New Liberty, Liberia’s first ever commercial gold mine,”

“During this time, the Company has faced the significant challenges of the tragic Ebola virus and the financial constraints of the global mining downturn. More recently, there have been operational challenges that, while not unusual at the early stages of commissioning and operations, reduced anticipated cash flows. The recent plant suspension has added to financial pressures faced by the Company,” he added.

“This transaction will recapitalise the Company and places it in a much stronger position to move forward.”

Serhan Umurhan, General Manager of MNG Gold, has praised the investment in Aurues, marking it as a representation of MNG Gold’s strong West African portfolio.

“New Liberty is an attractive opportunity to add high quality ounces to our West African mining portfolio,” he said.

“We see significant growth potential for New Liberty, supported by our strong financial position, global mining expertise and synergies with our other Liberian operation. MNG Gold is committed to responsible and sustainable mining and to creating long lasting benefits to the community.” He added.

Operations are expected to resume from mid-June 2016.

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Read the May 2016 issue of Mining Global magazine 

 

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May 18, 2021

Anglo American: FutureSmart Mining

Anglo American
Sustainability
Digitalisation
FutureSmart Mining
3 min
Anglo American is reimaging mining to improve people’s lives by leveraging technology, digitalisation and sustainability for FutureSmart Mining

Anglo American’s approach to technology, digitalisation and sustainability is changing the nature of the way the company mines. These are the step-change innovations that will transform the nature of mining – how the company sources, mines, processes, moves and markets its products – and how its stakeholders experience that business. Anglo American is transforming its physical and societal footprint with FutureSmart Mining.

FutureSmart Mining

“FutureSmart Mining is our innovation-led approach to sustainable mining,” Anglo American’s Tom McCulley told Mining Gllobal. In his role as CEO for Anglo American Peru & Group Head of Projects he has overseen investment of more than $5bn at the company’s Quellaveco copper project in Peru.

“These are the step-change innovations that will transform the nature of mining – how we source, mine, process, move and market our products – and how our stakeholders experience our business. It’s about transforming our physical and societal footprint.”

Technology

Anglo is undertaking a feasibility study to assess the possibility of rolling out one of its FutureSmart technologies, Coarse Particle Recovery (CPR), at Quellaveco. “CPR crushes particles to 2.5 times larger than normal, reducing energy consumption and mill time, leading to a 20% increase in throughput and 85% water recovery - a key issue in Peru given the concerns around water scarcity,” says McCulley.

“By allowing water to release from the much coarser particles, CPR will reduce the risks associated with wet tailings and ultimately help eliminate them altogether. When combined with low cost additives, it is possible to dewater residual waste and produce dry stackable tailings. This technology remains a focus area for us as water sent to tailings facilities often represents the largest water loss at a mine.”

Digitalisation

Quellaveco is going to be the first mine to run the FutureSmart operating model from day one. Anglo’s idea is to build a stable base on which it can layer new technologies, CPR being one of them. 

“We will also be a fully digital mine, which brings us future benefits in terms of understanding and applying changes in real time,” adds McCulley. “Our trucks and our drills will be automation-ready. We have taken the approach that, when we decide to move into an autonomous operation, no jobs will be lost, but the nature of some people’s jobs will have to change.”

Sustainability

FutureSmart is a blend of technology and sustainability,” said McCulley in an interview with Global Business Reports. “If you go back to the vision and design of Quellaveco, it has really been focused on the long-term sustainability of the mine through effective use of things like water, energy and the environment. Quellaveco has been focused on technology such as automation, with digital and analytical tools all coming together. We will be looking at future technologies to bolt on as we go to ensure that we are optimizing the sustainable use of resources and remaining cost-effective.”

Quellaveco

Anglo American’s Quellaveco copper project in Peru has created 15,000 jobs during construction and approximately 2,500 jobs are planned for operations, increasing Peru’s copper production by a forecast 300,000 tonnes per year. The mine’s first copper production is expected in 2022. To learn more about Anglo American's Quellaveco copper project read our feature here.

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