https://www.miningweekly.com
Gold|PROJECT
Gold|PROJECT
gold|project

Removing Sudan from terror sponsor list benefits Orca’s gold project

15th December 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The US has officially rescinded Sudan’s designation as a State sponsor of terrorism, a move which Canadian developer Orca Gold believes will help attract more foreign investors into the country.

The company, which owns the Block 14 project in northern Sudan, will also now have more financing options to advance the $321-million modern gold mine that it plans to develop.

"Today is a very special day for Sudan. After decades of being designated as a pariah state by much of the international community, the country is now being recognised and rewarded for their progressive efforts. I and my colleagues at Orca extend our sincere congratulations to the people of Sudan,” said Orca CEO and director Richard Clark on Tuesday.

A recently published feasibility study indicated that Block 14 could produce an average of 167 000 oz/y at an all-in sustaining cost of $751/oz. In the first seven of the 13.6 years, Block 14 would average 228 000 oz/y.

The study calculated an aftertax net present value of $607-million, an internal rate of return of 33.3% and a payback period of 2.9 years.

The Block 14 gold project is located close to Sudan’s border with Egypt, 900 km north of the capital Khartoum. The Block 14 concession covers 2 170 km2.

Orca said that its physical presence and activity in Sudan would significantly increase in early 2021.

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.141 0.186s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: