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Resolute Mining Ltd

Resolute Mining delivering Syama gold mine on time and on budget

Syama is the world’s first, purpose-built, fully automated sub-level cave gold mine.

3D model of Syama showing location of first blast on level 1105
3D model of Syama showing location of first blast on level 1105

Resolute Mining Ltd (ASX:RSG) has successfully commenced sublevel cave ore production from the new Syama Underground Gold Mine in Mali, West Africa.

Sub-level cave ore production is another achievement in what has been a timeline of success in Syama’s underground development.

READ: Resolute Mining seeks listing on Main Market of the London Stock Exchange

Resolute’s managing director and CEO John Welborn said: “The successful development of the Syama Underground Mine represents a pivotal moment in the long history of Resolute.

“Syama will be the world’s first, purpose-built, fully automated sublevel cave gold mine.

“It is a world class, long life, low-cost asset that will deliver long-term benefits to our shareholders, stakeholders, and local Mali communities for years to come.”

READ: Resolute Mining Limited expects 40% Syama power cost savings with new solar hybrid plant

Welborn added: “Resolute has an ambition to be a leader in sustainable and responsible economic growth in Africa.

“We recently announced plans to build a new 40 MW Syama Solar Hybrid Power Plant which will deliver an expected 40% savings on power costs and is expected to be the world’s largest mine based, off-grid fully integrated independent solar hybrid power plant.

Increasing production and lowering costs

“The commissioning of Project 85, a series of sulphide processing plant upgrades, will enable us to achieve improved recoveries from high-grade ore sourced from the new sublevel cave.

“The combination of mine automation, improved recoveries, and lower cost power has the potential to increase Syama site production to 300,000 ounces of gold per annum and reduce life-of-mine all-in sustaining costs to below US$750 per ounce.

Quick facts: Resolute Mining Ltd

Price: $1.60

Market: ASX
Market Cap: $1.44 billion
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