Mineral Deposits Ltd., Senegal-based gold producer, said it plans to spend $ 80 million to increase production capacity at the gold mine Sabodala by one third to 200,000 oz / year from mid-2011 . The company says the plant was designed and built with future expansion in mind, after some infrastructure in place to manage the increased flow.
The project involves the design capacity of the plant has doubled 2mt to 4mt / s. The average yield is expected to increase to 200,000 oz / year after the upgrade, although the mine life will fall from 11 years to 7 years, depending on existing reservations.
The mine produced its first bars gold medal in mid-March 2009 and is expected to announce production of 160,000 ounces for the whole year to end December, and expects to 140.000 ounces this year.
Under the expanded pricing, direct costs should be reduced by at least 10% according to the company. In the three months to end September the company recorded gross 382/oz cash cost of U.S. $, excluding charges.
In November 2008, the company reported a reserve for the project 1.63Moz to 2.1 g / t Au. The company says it is possible to increase reserves including the potential for underground mining.
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