RESOLUTE Mining said it had made significant operating cost reductions at its Syama underground project which is being re-scoped following a near 40% increase in its gold ore mineral resources last year.
Life of mine all-in sustaining cost will now be $746 per ounce compared to a previous estimate of $881/oz. These numbers are captured in an updated definitive feasibility study (DFS) for Syama which extends the life of mine from 2028 to 2032. The mineral resources are calculated to be 3 million ounces.
“Our ambition at Syama is to transform this world class deposit into a world class gold mine,” said John Welborn, MD and CEO of Resolute Mining.
“The updated DFS numbers capture the progress we have made in exploration, automation, and power, and confirm Resolute is transforming Syama into a robust, long life, low cost mine,” he said. “We are developing a new underground mine at Syama and are on track to commence sub-level caving in December 2018.”
