PERTH (miningweekly.com) – ASX-listed GBM Gold has struck a deal to divest of its Kangaroo Flat gold processing plant in a deal valued at A$6.2-million.
The 600 000 t/y gold processing plant, which was constructed in 2006, has been purchased by Australian Mining Equipment Exporters, which will export the plant to a project in Guinea.
The plant will be exported in the second or third quarter of next year, GBM told shareholders on Thursday.
The Kangaroo Flat plant was initially constructed to service the Bendigo gold project, in Victoria, however, it was found to be too large for the gold deposit, with no tailings capacity available and no opportunity to construct a new tailings facility.
GBM told shareholders that with the sale of the processing plant, the company was now in discussions to secure access to a gold processing plant to process the ore from the Bendigo mine, with six gold processing plants located within an economic haul distance from the operation.