Tropicana pours first gold ahead of schedule – AngloGold
Global gold producer AngloGold Ashanti has produced its first gold at the Tropicana joint venture (JV), in Western Australia.
The miner, which is listed on five stock exchanges, reported last week that gold production occurred ahead of schedule and within budget, with the project delivering new ounces below its current average cost structure.
“We’ve taken Tropicana all the way from discovery through development and now into production,” said AngloGold Ashanti VP for Australia, group planning and technical Graham Ehm.
“To pour gold ahead of schedule and within budget is a rare feat in this industry, and it’s a significant milestone for us and Independence Group, our partner,” he added.
Tropicana was initially slated to start production in the fourth quarter of 2013, with the JV partners spending between A$820-million and A$845-million to bring the project to production.
In the first three years of opera- tion, the mine would produce between 470 000 oz and 490 000 oz of gold at cash costs of between A$590/oz and A$630/oz.
Ehm said the focus would now be on achieving a smooth ramp-up of the processing plant to nameplate capacity of 5.5- million tonnes a year within the next three months.
The company would also look to expand the resource base by finding additional mineralisation close to the plant, while also testing promising targets in the JV tenement area.
The project currently has a total mineral reserve of some 118-million tonnes grading 2.08 g/t gold for 7.89-million ounces, and an ore reserve of 57.1-million tonnes at 2.12 g/t gold for 3.9-million ounces. Tropicana is held in a JV between AngloGold Ashanti, which owns 70%, and Australian gold pro- ducer Independence Group.
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