Jun 1, 2020

Silvercorp Metals amends deal for Guyana Goldfields

Gold
Silver
William Smith
2 min
Silvercorp Metals has announced an agreed amendment to its offer to acquire Guyana Goldfields, which it first detailed last month
Silvercorp Metals has announced an agreed amendment to its offer to acquire Guyana Goldfields, which it first detailed last month.

Silvercorp Metals is...

Silvercorp Metals has announced an agreed amendment to its offer to acquire Guyana Goldfields, which it first detailed last month.

Silvercorp Metals is a Canadian mining company producing silver, lead and zinc metals from mines in China, while Guyana Goldfields, also Canadian, is focused on gold deposits in Guyana, South America.

Silvercorp Metals outlined their extensive rationale for the initial transaction. Firstly, it is to create a leading precious metals producer which will benefit from the diversification inherent to the deal. The move was also said to shore up the financial position of the companies, giving them the capital to develop the Aurora Underground Project in Guyana. Other projects in the pipeline include the BYP gold project in China, with the acquisition also meaning exploration possibilities will be improved, with priority brownfield and greenfield exploration targets within a 1,200 km2 land package in Guyana.

Also emphasised were the synergies of the two organisations such as underground mining skills and Guyana Goldfield’s experience in Guyana.

Rui Feng, Chairman and CEO of Silvercorp, said: “This transaction will create a new globally diversified precious metals producer with the addition of Aurora to our growing asset portfolio. We believe this is a rare opportunity to leverage our underground mining expertise and strong balance sheet to unlock value for all shareholders through the development of the Aurora Underground Project as well as aggressive exploration programs in a proven gold district.

“We look forward to partnering with the Government of Guyana to make a successful entry into the region, leveraging Guyana Goldfield’s existing team and relationships to ensure a smooth transition and continued development that benefits all stakeholders.”

Alan Pangbourne, President and CEO of Guyana Goldfields, said: “This transaction provides our shareholders with an immediate and significant upfront premium and exposure to a geographically diverse mid-tier precious metal company.  With a strong operating history, solid balance sheet and significant underground experience, Silvercorp’s management team is well-positioned to fund and continue to advance the underground project at Aurora.” 

The move was prompted by an all-cash offer from a third party, with Silvercorp shoring up its proposal with an improved offer

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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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