Kiniero gold project, Guinea
Name of the Project
Kiniero gold project.
Location
Kouroussa Prefecture, Guinea.
Project Owner/s
Robex Resources.
Project Description
The historical Kiniero gold mine comprised an openpit mining operation, which produced 418 000 oz of gold during its 12-year operational history. The mine was placed on care and maintenance in early 2014.
A prefeasibility study (PFS) has confirmed good economics for the redevelopment of the openpit operations targeting a series of five deposits – the Sector Gobele A (SGA) Complex, Sabali, Mansounia Central, Jean and West Balan – for 13 orebodies that will feed a central gold processing facility.
The project proposes restarting Kiniero as a long-life operation, based on the construction of a new three-million-tonne-a-year process plant.The Kiniero mine will produce 712 000 oz over a 6.5-year mine life, with output averaging 110 000 oz/y at an all-in sustaining cost of $1 033/oz.
Mining activities will use conventional openpit mining methods. Drill-and-blast are planned for hard oxide and fresh mineralised material, followed by conventional truck-and-shovel operations within the pits for the movement of mineralised material and waste. Ore from the Kiniero project will be processed on site.
Existing mining infrastructure will be refurbished with minimal additional infrastructure required, except for new haul roads, which will depend on the mine layouts selected.
Production will start from the existing, previously mined Jean and SGA pits, and the newly delineated Sabali South pit to optimise the blend of oxides to fresh ore into the plant.
The project’s selected electrical supply is based on a hybrid system of a photovoltaic plant with total installed capacity of about 18 MW, diesel generators with a capacity of about 20 MW and a 10 MW power conversion system, as well as a 30 MWh battery energy storage system.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $199-million and an internal rate of return of 49%, with a payback of three years, based on a gold price of $1 650/oz.
Capital Expenditure
The capital cost is estimated at $161-million.
Planned Start/End Date
Robex is targeting first ore in the first quarter of 2024.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
Mining Plus UK (PFS); and Mine Planning Solution (mining and processing operating cost estimates).
Contact Details for Project Information
Robex Resources, tel +1 581 741 7421 or email investor@robexgold.com.
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