https://www.miningweekly.com

GBM sells Kangaroo Flat gold plant

27th July 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed GBM Gold has struck a deal to divest of its Kangaroo Flat gold processing plant in a deal valued at A$6.2-million.

The 600 000 t/y gold processing plant, which was constructed in 2006, has been purchased by Australian Mining Equipment Exporters, which will export the plant to a project in Guinea.

The plant will be exported in the second or third quarter of next year, GBM told shareholders on Thursday.

The Kangaroo Flat plant was initially constructed to service the Bendigo gold project, in Victoria, however, it was found to be too large for the gold deposit, with no tailings capacity available and no opportunity to construct a new tailings facility.

GBM told shareholders that with the sale of the processing plant, the company was now in discussions to secure access to a gold processing plant to process the ore from the Bendigo mine, with six gold processing plants located within an economic haul distance from the operation.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT 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 

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:0.051 0.975s - 128pq - 2rq
Subscribe Now