JOHANNESBURG (miningweekly.com) – The development of Aim-listed Hummingbird Resources’ Mali-based Yanfolila mine is progressing on time and within budget.
The company on Monday said structural, mechanical, plate work and piping work have been under way for over three months, while the plant foundations largely complete.
The ball mill is complete and due for delivery to site in May, while work on the carbon-in-leach tanks is expected to be finished then too.
“With the overall project now 60% complete, we are happy with how the Yanfolila construction is shaping up so far. The arrival of African Mining Services to start work on the tailings storage facility and, subsequently, preproduction mining, are significant upcoming milestones as we continue to ramp up development towards production,” CEO Dan Betts said in a statement.
Hummingbird also signed a fuel supply contract with West African fuel producer Zen Petroleum Mali.
The government of Mali will pay Hummingbird $11-million for an additional 10% stake in Yanfolila.
The company also received the first tranche of $25-million bridge loan facility post quarter-end from Coris Bank.