New deepest gold mine in Sept, Dominion clawing its way back, another uranium trading arm
AngloGold Ashanti’s Mponeng gold mine in Carletonville will become the world’s deepest in September when it goes below 3 777 m. A month later, Mponeng management will ask AngloGold Ashanti’s October board meeting to approve the new R9-billion Carbon Leader project, which has the potential to extend mine life to 2040 and increase depth to another new world record of 4 300 m.
At the time of going to press, Mponeng was the group’s safest underground operation, achieving 108 accident-free days, as can be read on page 10 of this edition of Mining Weekly. The project that will take Mponeng to the new world record depth in September is the third complete Ventersdorp Contact Reef (VCR) Below 120 project, which entails mining VCR ore below 120 level. This will add 2,5-million ounces. Production is due to begin in 2013, with full production expected in 2015.
Mining company Uranium One is adamant that the outlook is improving for its troubled Dominion mine in South Africa’s North West province. In February this year, Uranium One slashed its 2008 production forecast for Dominion to 590 000 lb, from earlier guidance of two-million pounds.
Read on page 22 of this edition of Mining Weekly of the improvement the company foresees both in tonnage mined and average grades, despite production from Dominion not meeting expectations during the first three months of the year.
Uranium producer Paladin Energy will formally announce plans for its new uranium-trading subsidiary, Paladin Nuclear, within months, as is reported on page 23 of this edition. The company expects to meet its 2008 output target of 2,6-million pounds of uranium at its Langer Heinrich mine, in Namibia, and is on track to start commissioning its Kayelekera operation in Malawi next year.
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