Joint-venture partners AngloGold Ashanti Australia (70% and manager) and Independence Group (30%) have approved development of the Boston Shaker underground project beneath the currently active Boston Shaker open pit at their Tropicana gold operations in Western Australia. A feasibility study has confirmed that underground mining is technically and financially viable, with an anticipated IRR of 39% for a capital investment of $79.3 million.
Boston Shaker underground will contribute higher-grade mill feed, resulting in an improved gold production profile and enhanced cash flow. Importantly, the underground mine will provide improved cash flow during 2021-2023, when the mine plan includes periods of higher waste stripping in the property’s Havana open pit.
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