Nullagine reaches commercial production
PERTH (miningweekly.com) - Commercial production has been declared at ASX-listed Millennium Minerals’ Nullagine gold project, in Western Australia.
The miner said on Tuesday that commercial production at Nullagine marked the completion of commissioning and operational ramp-up of the mine and processing plant, which reached full production in November of last year.
The project was expected to have an initial mine life of seven years, producing some 504 000 oz from a carbon-in-leach process. At nameplate capacity of 1.5-million tons a year, the project would produce between 80 000 oz/y and 85 000 oz/y.
Millennium told shareholders that overall mine performance since November, and for the month of January specifically, had demonstrated that the mine was capable of operating above its design throughput, and most importantly, operating costs were within the estimates forecast.
During January, pit mining operations established a new monthly record for total volume mined and hauled, while gold dore poured during January amounted to 7 200 oz, which was a new record for gold output.
Fine gold sales amounted to 6 726 oz during the month of January, at an average spot price of $1 592/oz.
Meanwhile, Millennium was also continuing with its evaluation to increase throughput from 1.5-million tons a year to at least 1.7-million tons a year during the 2013 financial year.
To achieve this, the Nullagine project would require a modest increase in throughput from 189 t/h to around 200 t/h.
Millennium was expected to complete the expansion studies at the end of the current quarter.
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