Endeavour Starts Building Ity CIL Project in Cote d’Ivoire
Endeavour Mining has started construction of its Ity carbon-in-leach (CIL) project in Cote d’Ivoire, where its Ity heap-leach operations have been in production for more than 20 years. Based on current reserves, the CIL project is expected to add 14 years to Ity mine life. Average annual production over the first five years is forecast at 235,000 ounces per year (oz/y) at all-in sustaining costs of $494/oz. Initial capital expenditures are estimated at $413 million.
Hummingbird Nearing Startup at Yanfolila
Hummingbird Resources expects to complete commissioning of its Yanfolila gold project in western Mali during the fourth quarter of 2017 and to pour its first gold before year-end. Preproduction mining by contractor African Mining Services (AMS) began on schedule in August, and ore was being stockpiled in advance of its introduction into the process plant. AMS currently has one Liebherr 9150 excavator, one Liebherr 9250 excavator, six Cat 777 trucks, five Cat D9 dozers, one Cat 336 excavator, and two Cat 980 front-end loaders on site.
Feasibility Study Supports Teranga’s Bandore Project
Teranga Gold has reported positive results from a feasibility study of its open-pit Banfora gold project in southwest Burkina Faso. Base case highlights from the study include average mill feed grade of 1.88 grams per metric ton (mt) of gold and average production of 119,000 ounces per year (oz/y) over a mine life of nine years. Preproduction capital expenditures are estimated at $232 million.
Reinventing the Gemstone Market
The takeover of London-listed precious stone producer Gemfields by majority shareholder Pallinghurst in late June is the coming together of a plan to create a de Beers-type marketing platform for gemstones. Gemfields produces emeralds and amethysts in Zambia and rubies in Mozambique. Brian Gilbertson, chairman and founder of South African-based Pallinghurst, said he wants to create the same value chain for gems that De Beers created for diamonds.