Gold Fields (GFI-N, GOF-L, GOGOF-J) has decided to nearly triple the throughput capacity of its carbon-in-leach plant at the Tarkwa gold mine in Ghana.
The Johannesburg-based company is also adding a new heap leach pad at the North facility.
These expansions will allow Gold Fields to maintain gold production above 700,000 oz. per year until 2021.
The throughput capacity at the carbon-in-leach plant will increase from 4.2 million tonnes a year to 12 million tonnes a year.
The plant expansion will cost the company about US$126 million, which will include the expansion of the tailings storage facilities and other related infrastructure.
The additional heap leach pad is part of the fifth phase of the North heap leach facility. It will add 39 million tonnes of stacking capacity to the current area and will allow stacking to continue until June 2011. The project will cost about US$35 million to expand the leach pads and US$14 million for other infrastructure and services for phases five, six and seven of the leach pad complex.
Construction of both projects is supposed to start during the first quarter of 2007 with commissioning completed by mid 2008.
These expansions will maintain the total ore tonnage treated at about 21.6 million tonnes per year, which include 9.6 million tonnes of heap leach and 12 million tonnes of milled ore each year. The expansions will also minimize the sub-optimal processing of ore by improving the overall recovery and decreasing the processing unit operating cost through economies of scale.
Total gold production at Tarkwa increased 5 per cent to 709,000 oz. during fiscal year 2006 (starting July 2005), compared to 677,000 oz. in 2005. Total tonnage mined increased 18 per cent to 97 million tonnes, compared to 82 million tonnes in 2005.
Total cash costs increased to US$292 per oz. from US$234 per oz. in 2005. Gold Fields attributed this to the increased tonnage treated and higher prices of commodities such as fuel and cyanide.
Revenue in 2006 was US$373 million while net earnings were US$70 million at an average realized gold price of US$526 per oz.
Be the first to comment on "Expansions for Gold Fields’ Tarkwa mine"