Sep 10, 2020

Core Lithium looks to sell Blueys silver project

core lithium
Lithium
blueys
Silver
Jonathan Campion
2 min
The Australian lithium developer has announced that it is open to selling its noncore silver assets, and has already received expressions of interest for Blueys
The Australian lithium developer has announced that it is open to selling its noncore silver assets, and has received expressions of interest for Blueys...

The Blueys silver project is located an hour and a half from the town of Alice Springs in the Northern Territories. Drilling had previously produced grades of up to 1,000 g/t silver and 17% zinc and lead. Core also found very high grades of 4,500 g/t silver and 10% copper in rock chips at the surface.

Core’s managing director Stephen Biggins commented that the company’s management team was open to selling its silver assets, in light of the current silver price and the prospectivity of the silver assets. He added: “We are pleased to have received this interest in our noncore silver assets and will carefully consider the best course of action with a view to generating the maximum value out of these assets for our shareholders.” 

“As we have stated, we remain committed to progressing activities at our flagship Finniss lithium project, in the Northern Territory, which was recently the subject of a A$5-million concessional finance facility through the Northern Territory government’s Local Job Fund. “We look forward to updating shareholders once we have carefully explored our options for these silver assets.” 

Divesting itself of the Blueys silver project would also allow Core to focus more on developing the company’s flagship project, Finniss Lithium, also in the Northern Territories. The company recently announced that it plans to update the definitive feasibility study for Finniss, to include an increase to its production capacity, and assessing its grid connection to reduce the company’s emissions footprint.

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Apr 19, 2021

AngloGold Ashanti establishes BG Umoja JV in Tanzania

AngloGoldAshanti
Geita
Gold
Sustainability
Daniel Brightmore
3 min
AngloGold Ashanti, Geita, Tanzania, BG Umoja
AngloGold Ashanti’s BG Umoja JV has been awarded a $186mn two-year contract for the Nyankanga and Geita Hill underground mining projects in Tanzania...

AngloGold Ashanti, in line with it s strategy to ensure a sustainable contribution to the economies of host countries, has established the BG Umoja joint venture (JV), in Tanzania.

Awarded a $186m two-year mining contract for the Nyankanga and Geita Hill underground mining projects, the 80/20 joint venture is a partnership between Africa Underground Mining Services (AUMS) Tanzania, a subsidiary of Australia’s Perenti Group, and local drilling services and mining- supply company, Geofields Tanzania Limited. 

The partnership is modelled on a similar underground mining joint venture at the Company’s Obuasi Redevelopment Project in Ghana between AUMS Ghana and Accra-based, wholly Ghanaian-owned Rocksure and will help build local specialised mining capacity.

AngloGold Ashanti

“We’re working with our experienced mining contractors to assist in establishing local joint ventures for long-term transfer of sustainable skills, and to continue building on our sustainable local procurement programmes,” commented Sicelo Ntuli, AngloGold Ashanti’s Chief Operating Officer: Africa. 

“AngloGold Ashanti is building sustainable local procurement programmes that will allow it to stimulate economic and social development at all of its operations, evidenced by the significant contribution Geita has made to the fiscus and people of Tanzania.”

AngloGold Ashanti’s annual expenditure with indigenous Tanzanian suppliers has almost tripled to $162mn since 2016. The company’s local team in Tanzania has set itself an ambitious target of 60% to 70% of all expenditures with indigenous Tanzanian companies, by 2025.

Scope 3 Emissions

In addition, AngloGold Ashanti’s Geita Gold Mine has awarded a two-year fuel transportation contract, worth approximately $10.8m a year, to two local contractors - one of which is originally from Geita. This is in line with the mine’s commitment to contribute to the economies of host communities. The Geita-based company was part of Geita Mine’s supply chain capacity building initiative for host community suppliers, a partnership between the Mine and the National Economic Empowerment Council.

To influence Scope 3 emissions, trucks are to be compliant with EURO IV emissions standards, tankers are to be made of an aluminium alloy material to reduce weight and the age of the fleet will be maintained at less than six years.

Diversity & Inclusion

The contractors already employ women fuel tanker drivers, fulfilling the Mine’s requirements for diversity and inclusion. The two contractors both own workshop facilities in Geita town and participate in social initiatives aimed at uplifting the lives of host community residents.

AngloGold Ashanti has been operating at Geita Gold Mine for more than 20 years, with the project initially a single pit mine, evolving now to a predominantly underground operation, employing 5,700 employees and contractors.

Earlier this year, the Government of Tanzania recognized AngloGold Ashanti’s contribution to the economy of the country, awarding it for its outstanding performance in a number of areas, including environmental and safety performance, corporate social investment, the best taxpayer in the mining sector, the runners up in local business content and overall best performer in the mining sector in Tanzania in 2019/2020.

Geita Gold Mine

Geita, one of AngloGold Ashanti’s flagship mines, is located in north-western Tanzania in the Lake Victoria goldfields of Mwanza region, about 120km from Mwanza and 4km west of the town of Geita. It has been in operation as a large-scale mine since 2000.

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