AngloGold to expand Western Australia mine, boosting production

08 Décembre, 2017, 01:11 | Auteur: Auguste Feret

The miners have approved phase one of the Long Island mining strategy at the Eastern Goldfields operation.

The full Long Island strategy adds 2.1 million ounces to Tropicana's business plan and extends the mine life by seven years to 2027, it said. The expansion is scheduled for completion during 2018.

"This project is in line with our approach of developing cost-effective brownfield projects with attractive payback periods that extend life and improve margins", said AngloGold Ashanti's Australian senior vice-president, Michael Erickson.

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"The project validates the innovative ideas developed by our site team and technical specialists, and also gives us an excellent base from which we can investigate adding additional value through underground mining opportunities and regional exploration".

AngloGold forecasts gold production at the mine of as much as 492,000oz next year and at least 530,000oz in 2019.

Tropicana, which is jointly owned by AngloGold Ashanti Australia (70 per cent) and Independence Group, is the state's third largest gold mine, with production of 432,00oz past year. AngoGold Ashanti Australia, which manages the mine, owns a 70% stake and Independence Group NL (IGO.AU) has the remaining 30%.

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