- Write by:
-
Tuesday, February 16, 2021 - 3:28:38 PM
-
921 Visit
-
Print
Mining News Pro - Gold Road Resources expects gold production at the Gruyere mine in Western Australia to reach up to 300,000 ounces this year.
The company has delivered its three-year production outlook for the Gruyere joint venture (JV) off the back of its 2021 production guidance.
Grueyere produced 129,087 attributable ounces in 2020, which is set to increase by 35 to 50 per cent within the next three years to hit a total production of around 350,000 ounces.
The Gruyere JV is owned by Gold Fields and Gold Road subsidiary Gruyere Mining Company, with each having a 50 per cent stake in the mine.
Gold Road managing director and chief executive Duncan Gibbs said the production outlook and 2021 guidance were in line with its vision to become a long-life gold producer.
“Gold Road aspires to be a long-life low cost and sustainable gold producer of circa 300,000 ounces per annum,” he said.
“The 2021 growth strategy aligns with this and focusses on realising shareholder value through optimising and growing Gruyere production at minimal cost as well as maintaining our strong focus on meaningful organic growth from our 100 per cent owned Yamarna exploration project.”
Gold Road stated that minimum capital expenditure was required to reach the new production target within the next three years.
Outside of the Gruyere JV, Gold Road has a $27 million exploration budget in 2021, which will continue prospecting at the Yamarna and Yandina projects in Western Australia.
Gold road will allocate $20 million for 147,000 metres of planned drilling to target gold discoveries at the Yamarna Belt.
Gold Road expects to have all-in-sustaining costs (AISC) of $1225 to $1350 per ounce this year, compared with $1273 per ounce in 2020.
Short Link:
https://www.miningnews.ir/En/News/610478
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...