Fekola gold project, Mali
Name and Location
Fekola gold project, Mali.
Client
B2Gold.
Project Description
A prefeasibility study (PFS) completed on the Fekola project has confirmed a large-scale, low-cost and robust project.
The project hosts a mineral resource of 54.97-million tonnes, grading 2.38 g/t gold.
Envisaged is an openpit mine and conventional carbon-in-leach processing circuit to process four-million tonnes a year during steady-state production.
It will produce an average of 350 000 oz/y for the first seven years of production at an average operating cash cost of $418/oz. The life-of-mine plan is to produce about 276 000 oz/y at an average operating cash cost of $552/oz.
Contract miners will be used, thus eliminating the need for capital expenditure on fleet.
Net Present Value/Internal Rate of Return
Not stated.
Value
B2Gold estimates the total preproduction capital costs to be $395-million, with an additional $67-million of expected mine fleet and power generator costs to be leased financed.
Duration
The Fekola mine is expected to start production in 2017.
Latest Developments
In the first quarter of 2016, B2Gold's construction team continued to develop the Fekola project on schedule and on budget. Significant activities included:
• material completion of the tailings dam walls, excluding a small opening to allow runoff during the 2016 rainy season;
• the start of construction on the process water and contact water dams;
• completion of pilings installation in the mill area;
• initiation of concrete pouring at the crusher and reclaim stockpile;
• completion of Phase 1 permanent camp construction; and
• on-going crushing and screening of aggregate necessary for earthworks.
Key Contracts and Suppliers
Not stated.
On Budget and on Time?
Construction of the Fekola mine is well under way, on schedule and on budget, and is expected to commence production in late 2017
Contact Details for Project Information
B2Gold, tel +1 604 681 8371, fax +1 604 681 6209 or email investor@b2gold.com.
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