African Gold Group Targets Kobada Project Development

African Gold Group (AGG) reported that a completed definitive feasibility study of its Kobada gold project in southwest Mali supports development of an open-pit project producing 50,000 oz/y of gold over a mine life of eight years. All-in sustaining costs are estimated at $788/oz. Proven and probable reserves in two pits total 12.7 million mt grading 1.25 g/mt gold and containing 511,000 oz of gold.

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Budget, Job Cuts Ahead for South32 African Manganese Operations

South32 Ltd. recently announced the results of its South Africa Manganese strategic review and its intention to substantially reduce cash costs at a number of operations. Citing poor forecasts for commodity demand and prices, South32 said it expects to take a pre-tax, non-cash impairment of $1.7 billion when it reports its December 2015 half-year financial results. Most of that relates to the Australia Manganese and South Africa Energy Coal divisions—$900 million and $400 million, respectively.

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Nevsun Nears Completion of Bisha Zinc Concentrator

Nevsun Resources expects to begin commissioning the new zinc flotation plant at its Bisha operations in Eritrea midway through the second quarter of 2016, with commercial production to follow later in the year. Nevsun currently produces copper concentrates from the Bisha deposit’s copper-enriched supergene zone, which overlies a primary sulphide zone containing both zinc and copper.

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