La Demajagua gold/silver/antimony mine, Cuba
Name of the Project
La Demajagua gold/silver/antimony mine.
Location
Isle of Youth, south-west Cuba.
Project Owner/s
The project is a joint venture between the Cuban government’s mining company, GeoMinera, and Antilles Gold.
Project Description
The mine is planned to be developed in two stages, with the openpit operating for nine years, to be followed by underground mining.
The production target for ore and waste is based on mining 100% of the indicated resource of 5.32-million tonnes grading 2.87 g/t gold and 32.10 g/t silver, and 100% of the inferred resource of 2.1-million tonnes grading 2.01 g/t gold and 17.14 g/t silver. The project will produce about 56 136 oz/y of gold, 606 898 oz/y of silver and 2 758 t/y of antimony over the life-of-mine.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a net present value, at an 8% discount rate, of $195.6-million and an internal rate of return of 27.9%, with a payback of 12 months.
Capital Expenditure
The project will cost $86-million to develop.
Planned Start/End Date
The first shipment of concentrate is expected in the first quarter of 2025.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Antilles Gold, tel +61 2 4861 1740 or email admin@antillesgold.net.
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