True Gold ups the ante, adds $14 million into Karma gold project
Canadian miner True Gold Mining Inc. has announced it will inject an additional $14 million into building the $131.5 million Karma gold project in Burkina Faso, drawing from its $100 million stream financing from its partnership with Franco-Nevadas Corporation and Sandstorm Gold Bank Ltd.
“There is an atmosphere of excitement on site with a workforce of over 500 focusing on earthworks and the processing plant final assembly,” said Christian Milau, True Gold President and CEO.
“We have progressed rapidly with site development and construction, highlighted by commissioning of the mine fleet, completion of the raw water pond excavation and initial construction of the raw water pipeline.”
• Related content: True Gold Announces Agreement to Purchase Mining Fleet for Karma Project
This the third draw the Vancouver-based miner has made, bringing the total amount drawn to $71.6 million with roughly $37.5 million in cash remaining.
The additional financing will ensure construction remains on schedule with the planned placing of ore on the heap leach pads in early 2016 and fits first gold pour, which is expected during the end of the first quarter in 2016.
According to Milau, the Karma mine is in full construction with all required personnel on site. Highlights since the last project update include:
• Excavation of raw water pond completed
• Burying of the barrage raw water pipeline commenced
• Water pipeline from barrage to site 20% complete
• Excavation of storm water pond commenced
• Excavation of Pregnant Leach Solution (PLS) pond commenced
• Stripping of Cell 1 of heap leach pad completed
• Mine fleet commissioned (six Komatsu 785 trucks, PC 3000 excavator, WA800 loader)
• Assembly of hard rock crusher has commenced
• Assembly of Absorption, Desorption and Refining (ADR) plant structural steel has commenced
Planned infrastructure activities upon delivery at site:
• Assembly of assay lab
• Assembly of gold room structural steel
• Assembly of the cement silos
• Commissioning of the remaining three generators and full completion of the power plant
Located in West Africa, the Karma gold mine is expected to produce 97,000 ounces a year and will become one of the lowest-cost gold mines in the region.
Anglo American: 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 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.”
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.”
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.”
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.”
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.