AngloGold Ashanti has published a maiden mineral reserve estimate for its Arthur gold project in Nevada, along with a prefeasibility study, indicating an output of 500 000 ounces of gold per year within the first nine years of operation.
The probable mineral reserve amounts to 88 million tonnes of ore grading 1.75 g/t of gold for a total of 4.9 million ounces of the yellow metal, along with 7.8 million ounces of silver. The project also has a sizeable resource upside potential.
According to the company, the project benefits from its location in Nevada, widely regarded as one of the world’s most favourable mining jurisdictions, with established infrastructure, skilled labour and a well-defined permitting framework.
The development plan of the conventional open-pit mine includes a 7 million-tonne-per-year mill and a 5.5 million-tonne-per-year heap-leaching plant. Initial capital expenditure is estimated at about $3.6 billion.
AngloGold Ashanti CEO Alberto Calderon said the project was a cornerstone of the company’s strategy to build a "world-class, long-life production platform" in “a premier mining jurisdiction”.
Theodor Lisovoy, Managing Editor, Rough&Polished
