Gubong restart on the cards for 2019 - Bluebird
PERTH (miningweekly.com) – A report by London-listed Bluebird Merchant Ventures has found that the Gubong gold mine, in South Korea, could be reopened and recommissioned, with production expected in late 2019.
Joint venture partner Southern Gold told shareholders on Wednesday that Bluebird had provided the company with an initial report on the feasibility of reopening the historic gold mine.
The mine was closed in 1971 owing to low gold prices, and had an historic production of 430 000 oz of gold and 110 000 oz of silver over an intermittent production period between 1926 and 1971.
The Bluebird report found that a preconstruction phase would be required, which will include ongoing dewatering of the lower levels of the mine, and the establishment of a permanent entrance to the mine. This phase will also allow for the completion of a full feasibility to prepare for the construction of a processing plant, and the start of mining activities.
The preconstruction phase is expected to cost some $850 000, and has already started, Southern Gold said.
“The report on the feasibility of reopening Gubong is a substantive document and a lot of work has gone into its development,” said Southern Gold MD Simon Mitchell.
“While the report has not been completed to a Joint Ore Reserves Committee standard, it has been prepared by highly experienced technical personnel very familiar with the mine redevelopment scenario at Gubong.
“From my perspective, the report confirms two key things: firstly, that the project can be developed very quickly, and that secondly, the low capital intensity of the redevelopment may be even lower than first targeted.”
Bluebird was confident that the mooted reopening of the old gold mine will facilitate substantial immediate mining development with access to initial low-cost ore that could be cost effectively and quickly processed after a small scalable trial plant has been established.
The company has also indicated that the project can advance to production in late 2019, with production progressively expanded over the next five years.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation