First stope mined at Resolute Syama sublevel caving set for December

first_imgResolute Mining Ltd has released its Quarterly Activities Report for the period ended 30 September 2018. Managing Director and CEO, John Welborn, commended the Syama development team on delivering a major milestone during the September quarter with first stope ore production delivered from the new Syama Underground Mine as the company prepares for the commencement of sub-level caving in December 2018.“Resolute is now poised to enter a new era which will be defined by the success of the Syama Underground Mine, the world’s first customised fully automated underground mine. The highlight of the September quarter was the delivery of first stoping ore from the Syama Underground Mine, a crucial milestone in the path towards full production. In addition, significant progress was made towards installing critical ventilation and pumping infrastructure which will support production until at least 2032. We will commence sub-level cave production in December 2018, and then implement full automation as we ramp-up to steady state production by June 2019. I commend the Syama development and operating teams, and our entire company, on the ongoing success in advancing the SyamaUnderground Mine on time and on budget.”“Production and cost performance during the September quarter was, as expected, reduced due to the scheduled biennial roaster shutdown at Syama. Roaster maintenance was successfully completed over a 7-week period during the quarter which resulted in significantly lower production from the Syama sulphide circuit than we would typically achieve. In addition, similar to our regional peers, Syama experienced significantly higher than average rainfall during the quarter, ~500 mm above average year-to-date, which presented challenges from a materials handling perspective. Excess rainfall at Syama limited our ability to process transitional ore through the sulphide circuit to supplement production during the roaster shutdown.” “Ravenswood is also achieving important milestones in its transformational journey with the completion during theSeptember quarter of the essential tie-in of our new beneficiation plant. The work resulted in reduced milling time,lower production and higher than normal costs on a quarterly basis. The beneficiation plant is now operational andinitial results indicate is operating to expectations. Beneficiation is one of a number of innovations applied as part ofthe Ravenswood Expansion Project which will see Ravenswood deliver average production of ~115,000 oz/y at AISC of A$1,097 per ounce over a 14 year mine life which is expected to extend operations to at least 2032.”“The September quarter is broadly consistent with our overall operating plan from a production and cost perspectiveas we progress a 3- year transformation journey at Syama and Ravenswood. We are building new long life low costmines at both operations and remain on track. At Syama, access to the higher- grade sulphide ore will accelerate in the second half of FY19 and provide an immediate and material improvement in production. Full year guidance ismaintained at 300,000 ounces of gold at an All- In Sustaining Cost of A$1,280 per ounce (US$960 per ounce).”He added: “Excitement is building within Resolute as we enter the final stages of development and commissioning at Syama of the world’s first customised fully automated underground gold mine. First stope ore and production drilling in the first level of the sub-level cave are important steps on our journey. The new Syama Underground Mine has a mine life to at least 2032 with life-of-mine AISC of US$746 per ounce. Once in production, Syama will be capable of delivering in excess of 300,000 ounces gold per annum and underpin Resolute’s growth pathway to a low cost 500,000 ounces producer.”last_img

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