[miningmx.com] – ACACIA Mining said it had received approval from the Tanzanian government to proceed with its Gokono underground project at its North Mara mine which will sustain output at 250,000 ounces a year when commissioned.
The Gokona Underground project is expected to produce 450,000 oz over a five-year life of mine, with all in sustaining costs of under $750/oz, the company said. Ouput is expecte to begin late in the second quarter.
“This project is reflective of our new approach to operating our assets whereby we have re-engineered the mine to drive free cash flow,” said Bradley Gordon, CEO of Acacia. There was also an expectation that Gokona could be extended laterally and at depth.
