AngloGold sees first gold from Nevada in next three years – CEO
Bullion major AngloGold Ashanti will produce its first gold from the Beatty district, in Nevada, in the next three years, CEO Alberto Calderon said on Tuesday, announcing the conclusion of the $370-million acquisition of Corvus Gold.
The South Africa-based mining company sees Corvus as an opportunity to establish a meaningful, low-cost base in Nevada, in the US.
Through Corvus, AngloGold obtained the North Bullfrog and Mother Lode projects, as well as exploration assets in the Beatty district.
“The combination of Corvus’ assets along with our own neighbouring targets, including Silicon, Merlin and Rhyolite, provides the opportunity for the Beatty district to be a Tier-1 asset,” Calderon said on Tuesday.
Corvus, which will now delist from the TSX, in 2020 announced preliminary economic assessments (PEAs) for North Bullfrog and Mother Lode projects as two standalone mines.
The PEA for a standalone Bullfrog project demonstrated the potential to produce nearly 147 000 oz/y of gold and 400 000 oz/y of silver at an all-in sustaining cost of $737/oz of gold, while the standalone Mother Lode project, about 10 km away, also yielded encouraging results.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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