Big Ribbon cuts Borborema ribbon
PERTH (miningweekly.com) – The ribbon has been cut at ASX-listed Big River Gold’s Borborema gold project, in Brazil.
A definitive feasibility study has estimated that the project would produce some 729 000 oz of gold over a mine life of just over ten years, producing an average of 71 000 oz/y, and around 88 000 oz/y over the first four years of the mine life, and would require a capital investment of $88-million.
The project will comprise a single openpit mine and a two-million-tonne-a-year processing plant using industry-standard crushing and a semi-autogenous grinding and ball mill circuit.
Project construction is expected to last 23 months subject to the conclusion of financing, and Big River is looking to source financing through a combination of equity and debt instruments from existing shareholders, new equity investment and debt providers in both Australia and from overseas.
The company on Monday said that the operation is expected to employ 375 personnel both directly and indirectly, with the project expected to contribute $2.7-million annually in wages.
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