Oceana Nearing Production Start at Haile Mine

OceanaGold reported that construction at its Haile open-pit gold mine in Lancaster county, South Carolina, remains on track for first ore to be delivered to the mill at the end of 2016. Oceana acquired the Haile project when it acquired Romarco Minerals at the end of September 2015. Romarco began construction of the project in May 2015.

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Gahcho Kué Ramping-up to Commercial Production

The De Beers Group of Companies (51%) and Mountain Province Diamonds (49%) announced in early August that commissioning was complete at their Gahcho Kué diamond project in Canada’s Northwest Territories. Ore from the mine was being fed to the processing plant, and ramp-up to commercial production was scheduled for completion in the first quarter of 2017.

The C$1-billion Gahcho Kué mine began processing ore in March; the owners, De Beers and Mountain Province Diamonds, recently reported recovery of two gem-quality diamonds during the commissioning phase: A 12.10-carat diamond was recovered on July 29, and a 24.65-carat diamond on August 1. Photo: De Beers Group)
The C$1-billion Gahcho Kué mine began processing ore in March; the owners, De Beers and Mountain Province Diamonds, recently reported recovery of two gem-quality diamonds during the commissioning phase: A 12.10-carat diamond was recovered on July 29, and a 24.65-carat diamond on August 1. Photo: De Beers Group)

The Gahcho Kué project is located approximately 280 km northeast of Yellowknife and 80 km southeast of De Beers’ Snap Lake mine. De Beers is the operator. Open-pit mining will mine three kimberlite pipes in sequence. The total capital cost to complete the project will come in at about C$1 billion.

Gahcho Kué’s probable mineral reserve stands at 35.4 million mt, grading 1.57 carats/mt for total diamond content of 55.5 million carats. Production is planned to average 4.5 million carats/y over a 12-year mine life.

First ore was exposed at Gahcho Kué on March 23; first ore was introduced into the plant on June 20; and first commissioning carats were recovered on June 30.

De Beers Canada CEO Kim Truter said, “Gahcho Kué will not only strengthen De Beers in Canada but will ensure Canada remains the third leading diamond producer, by value, in the world. We are excited to see this project move into the production phase and must congratulate our Gahcho Kué team and thank our community partners for helping us deliver this world-class mine.”

De Beers is a member of the Anglo American group of companies; it has mining operations in Botswana, Canada, Namibia, and South Africa, and is the world’s largest producer of diamonds by value.

Relief Canyon Project Clears Permitting Hurdle

Pershing Gold has received approval from the U.S. Bureau of Land (BLM) Management to expand the pit boundaries and deepen the planned pit at its project to restart operations on its Relief Canyon property in Pershing county, northwest Nevada. The Relief Canyon property was mined intermittently from the 1980s through 2009 and includes three open pits and a fully permitted and constructed heap-leach processing facility. Pershing Gold acquired the property in August 2011.

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Tahoe Increases its Timmins District Interests

Tahoe Resources has acquired Goldcorp’s 2% net smelter return royalty related to production at Tahoe’s 100% owned Bell Creek mine in the Timmins district of Ontario. The companies have also signed a letter of intent to increase Tahoe’s ownership interest in their Whitney Joint Venture to 100%, with Goldcorp’s current interest of approximately 30% being reduced to a 2% NSR royalty.

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