Eldorado opts for heap leaching at Kisladag, shelves milling project
Canada-based Eldorado Gold will resume mining and heap leaching at the Kisladag mine, in Turkey, putting on hold a previously announced mill project.
The decision to resume mining and heap leaching follows improved heap leach recoveries and a revised heap leaching plan that was developed early this year.
“The revised heap leaching plan results in favourable economics when compared to milling without the risks associated with the construction and financing of a $500-million project,” president and CEO George Burns said on Wednesday.
Mining at Kisladag is expected to resume by the end of the first quarter, and is forecast to produce 145 000 oz to 165 000 oz this year, contributing nearly 40% to the group’s total forecast for the year of 390 000 oz to 420 000 oz.
Average cash operating costs are forecast to decline from $621/oz to between $550/oz and $600/oz.
As mining and heap leaching at Kisladag ramps up in 2019, consolidated gold production is expected to increase to between 520 000 oz and 550 000 oz in 2020, before decreasing to 350 000 oz to 380 000 oz in 2021.
Eldorado also owns the Efemcukuru mine, in Turkey and the Lamaque mine in Canada, as well as the Olympias, Skouries and Stratoni mines, in Greece.
At Lamaque – the company's first mine in Canada – commercial production is expected to be declared in the first quarter of the year.
The company does not have any major capital projects lined up beyond Lamaque.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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