AngloGold CEO Srinivasan Venkatakrishnan
Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – Gold mining company AngloGold Ashanti is targeting a ton of new technology gold next year.
South African chief operating officer Mike O’Hare said on Monday in response to UBS gold analyst Kane Slutzkin during question time at the company’s third-quarter results presentation that the cost of the roll-out of the technology was looking favourable owing to its deployment in high-grade pillars.
Increasing gold production was coming through, with 39 holes delivering 1 962 oz (61.026 kg).
O’Hare said that the production holes being bored currently were making a profit for the company, which had committed to a production target of just under a ton of gold in 2015.
AngloGold CEO Srinivasan Venkatakrishnan (Venkat) said in response to Mining Weekly Online that the board had been taken to view the roll-out and a presentation on the technology had been given at the company’s last budget session.
For the current budget vote cycle, the board will be visiting test sites.
“The advantage we have here is progress across all of the sites, not just the test sites,” Venkat told Mining Weekly Online.
The technology dispenses with conventional drilling and blasting and backfills cavities with ultra high strength cement.
“We’re still within the timeframe set,” Venkat said.
In an update distributed at the presentation, it was stated that the technology had progressed beyond pure technology trials and was in the preliminary stages of beginning to produce from its trial mining sites.
Eleven new test holes had been drilled in test sites and rigs were being commissioned at the Moab and Kopanang gold mines.
The 2014 sites had been equipped and equipping was now under way at the 2015 sites.
A data logging system had been commissioned at the ultra high strength backfill plant, which was being optimised.
The average reverse circulation drilling rate has been increased from 12.7 m/hr to 13.3 m/hr, with accuracy improvements being pursued.
“We’re seeing a lot of interest come through from investors in our stock on what this can unlock for our South African operations,” Venkat added.