https://www.miningweekly.com

Beadell looks at contract mining for Tucano

23rd October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed gold miner Beadell Resources has signed a letter of intent (LOI) with fellow listed mining contractor Maca over the management of mining operations at the Tucano gold mine, in Brazil.

Beadell’s existing mobile fleet and equipment would progressively be transferred to Maca under a two-year staged acquisition process valued at A$40-million, with half of the acquisition to occur by November this year.

Under the LOI, Maca would provide all drill and blast, load and haul, as well as crusher feed services at the Tucano project for a period of five years.

The Tucano project was currently producing between 180 000 oz/y and 200 000 oz/y.

Beadell MD Peter Bowler told shareholders on Thursday that the strategic partnership would offer a number of benefits to the company, including strengthening its cash position and balance sheet, providing surety of meeting its production forecast, and returning the company’s all-in sustaining cost to the lowest quartile by sharing in the benefits of a 30% to 40% productivity improvement at Tucano by leveraging of Maca’s expertise and experience.

“The benefits of this partnership should not be underestimated and will ensure that Beadell remains a low cost gold producer for many years to come,” Bowler said.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.06 0.955s - 128pq - 2rq
Subscribe Now