RESOLUTE Mining, an Australian-listed gold mining firm, said it had received an environmental permit authorisation from the Ghana government for the recommissioning of the Bibiani underground mine and processing plant.
An updated feasibility study on Bibiani demonstrated potential for production of about 100,00 oz at an all-in sustaining cost of $750 per ounce over a 10-year life of mine.
“There has been a regular stream of news flow from Resolute this month as it extends the lives of its operation and projects,” said Investec Securities. “Recent feasibility studies have indicated that Syama now has a minimum 16 years of life currently planned, Ravenswood [in Australia] has 13 years, and now Bibiani 10 years,” it said.
In May, Resolute also said it had thrown its weight behind Sudan following a $22.5m all-share investment in Orca Gold, a company that has a 70% stake in the Block 14 gold project in northern Sudan. “Similar to Resolute’s entry into Ghana and Tanzania in the late 1990s, we are convinced this region of Africa will soon host new modern gold mines,” said John Welborn, CEO of Resolute Mining.