Roxgold receives mining permit and breaks ground at Séguéla
Roxgold has received a 10-year exploitation (mining) permit from the government of Côte d’Ivoire to develop and operate the Séguéla Gold Project.
Alongside this development, the Canadian-based gold mining company has started early works at Séguéla to protect the project critical path and facilitate a rapid ramp up to full construction next year, ahead of commissioning Séguéla in 2022.
"We are delighted to announce the approval of the exploitation permit which represents a significant milestone in the development of Séguéla," said John Dorward, President and Chief Executive Officer.
"It has been an exceptional year in progressing Séguéla having grown the total mineral resources to over a million ounces, announcing maiden resources at Koula, Ancien, Agouti and Boulder, completing a preliminary economic assessment, and culminating in the environmental and exploitation permit approvals.
"We thank the government of Côte d’Ivoire for its demonstrated support and commitment to fostering a positive investment climate and we look forward to a lasting and mutually beneficial partnership."
He added that the Séguéla Project is a key priority for Roxgold, with the potential to more than double its production for shareholders within a short timeframe and without the need for additional equity.
"The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming West Africa’s next multi-asset producer," he said.
The exploitation permit has been approved by the Council of Ministers and signed as a mining decree by the President of Côte d’Ivoire, and other governmental authorities. The decree grants Roxgold an industrial mining permit for development and operation of the Séguéla Gold Project, and opportunities to renew as further growth and expansion is proven.
The company’s final permitting milestone at Séguéla is the completion of the Mining Convention negotiation process. Discussions with the government of Côte d’Ivoire are ongoing.
- Ongoing infill, expansion and satellite target drilling program at Séguéla Q1 2021
- Drilling results from Boussoura Q1 2021
- Underground drilling program in 55 Zone at Yaramoko Mine Complex Q1 2021
- Feasibility Study for Séguéla H1 2021
- Formal Séguéla construction decision H1 2021
- Initial resource at Boussoura H2 2021
- Commissioning of Séguéla Gold Project 2022
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.