Rietfontein underground gold mine reopening, South Africa
Name and Location
Rietfontein underground gold mine reopening, Limpopo, South Africa.
Client
Sabie Mines, a subsidiary of Stonewall Resources.
Project Description
The project involves the reopening of the Rietfontein gold mine, starting at a rate of 5 000 t/m and targeting production of 1 294 oz of gold for 2013 and increasing to 8 200 oz of gold by 2014.
The mine has a Joint Ore Reserves Committee-compliant resource of 1.901-million tons, with a content of 1.24-million tons indicated at 7.92 g/t gold, and 657 000 t inferred at a grade of 7.23 g/t gold.
Value
The project has a capital cost of $3-million.
Duration
According to the mining plan, production will start in September 2013 and continue to 2022.
Latest Developments
The development of the mine will be fast-tracked.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
With the feasibility study, mining and mine plan completed, production is starting two years ahead of schedule.
Contact Details for Project Information
Bourse Communications MD Rod North, on behalf of Stonewall Resources, tel +61 3 9510 8309, or
email rod@boursecommunications.com.au.
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