Strong start to Newmont-Saracen JV at Kalgoorlie Super Pit
New joint venture (JV) partners Newmont Goldcorp and Saracen Mineral Holdings have initiated several management initiatives at Kalgoorlie Consolidated Gold Mines (KCGM), which owns and operates the Super Pit, in Western Australia.
The companies became JV partners in KCGM last week, when Saracen concluded the $750-million acquisition of Barrick Gold’s 50% interest in the mine.
Saracen announced on Tuesday that long-serving Newmont Goldcorp executive Ben Wessely had been appointed GM of KCGM, bringing both technical and operational experience to the JV.
The companies also agreed on a JV subcommittee structure, with committees to report to the KCGM executive committee, comprising two Newmont representatives and two Saracen representatives.
The subcommitees comprise exploration and growth, technical and operations, as well as financial and commercial.
The management initiatives highlighted a strong start to Saracen’s relationship with Newmont Goldcorp at Kalgoorlie Super Pit, commented MD Raleigh Finlayson.
Meanwhile, Newmont provided a calendar year production guidance for Kalgoorlie Super Pit of 285 000 oz at an all-in sustaining cost (AISC) of $1 035/oz for its 50% shareholding.
Saracen is forecasting a financial year production guidance of 245 000 oz at an AISC of A$1 470/oz for its 50% shareholding.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation