Resolute launches review of Bibiani
PERTH (miningweekly.com) – Gold miner Resolute Mining has initiated a strategic review of its Bibiani gold mine, in Ghana, assessing plans to recommission the mine.
The ASX- and LSE-listed gold miner said that the review would assess capital requirements, evaluate funding alternatives and investigate recently received expressions of interest from third parties seeking to acquire the asset.
The company told shareholders that the review would look to maximise value for Resolute shareholders, while ensuring that all local stakeholders continued to benefit from the economic and social advantages that re-establishing the operation would provide.
No binding agreement has been entered into regarding the financing or divestment of Bibiani, the miner said.
The project was acquired by Resolute in 2004, and was placed on care and maintenance shortly after, to allow exploration activities to enable the development of an economically viable, long-term, large-scale operation.
A 2018 feasibility study into a Bibiani restart estimated that the project could produce some 100 000 oz/y over a ten-year mine life, at a total capital cost of around $115-million.
The project is currently estimated to host some 21.7-million tonnes, grading 3.6 g/t gold for 2.5-million ounces of contained gold.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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