dlk001
Executive Member
Revived old Joburg gold mines may begin producing earlier, from bigger resource
The remining of Johannesburg – 122 years after George Harrison’s initial 1886 gold discovery – is now poised to begin sooner than expected and involve a bigger resource than originally announced, Mining Weekly understands.
The London- and Johannesburg-listed mining company, Central Rand Gold (CRG), expects to turn old Golden City workings to positive account sooner than previously expected, Mining Weekly learns.
It is understood that CRG wants trial mining to start the moment it is awarded its mining licence, which is expected within the next few months.
By the end of 2009, CRG plans to be pro- ducing at a rate of 100 000 oz/y of gold.
It wants to ratchet up to 250 000 oz/y by 2010 and then go on to a million ounces a year by 2012.
CRG CEO Greg James, a former CFO of the coal division of Glencore International who worked under legendary Glencore CEO Ivan Glasenberg, says the old operations have a remaining life of “at least 30 to 35 years”.
Although the Central Rand has already produced 247-million ounces of gold since mining began in the area more than a century ago, considerable resources remain as unmined remnants and even virgin reef.
There is a total Joint Ore Reserves Committee resource of 35,5-million ounces of gold still in the ground, 22,3-million of which are in the indicated category and 13,2-million in the inferred category.
http://www.miningweekly.com/article.php?a_id=135109
The remining of Johannesburg – 122 years after George Harrison’s initial 1886 gold discovery – is now poised to begin sooner than expected and involve a bigger resource than originally announced, Mining Weekly understands.
The London- and Johannesburg-listed mining company, Central Rand Gold (CRG), expects to turn old Golden City workings to positive account sooner than previously expected, Mining Weekly learns.
It is understood that CRG wants trial mining to start the moment it is awarded its mining licence, which is expected within the next few months.
By the end of 2009, CRG plans to be pro- ducing at a rate of 100 000 oz/y of gold.
It wants to ratchet up to 250 000 oz/y by 2010 and then go on to a million ounces a year by 2012.
CRG CEO Greg James, a former CFO of the coal division of Glencore International who worked under legendary Glencore CEO Ivan Glasenberg, says the old operations have a remaining life of “at least 30 to 35 years”.
Although the Central Rand has already produced 247-million ounces of gold since mining began in the area more than a century ago, considerable resources remain as unmined remnants and even virgin reef.
There is a total Joint Ore Reserves Committee resource of 35,5-million ounces of gold still in the ground, 22,3-million of which are in the indicated category and 13,2-million in the inferred category.
http://www.miningweekly.com/article.php?a_id=135109
Why has this been left for so long anyway, is it more expensive/difficult to mine?