Peter Taylor’s Post

Shanta Gold Limited topped production of 100,000 oz #gold produced in 2023 for the first time as its new mine at Singida in Tanzania continued its good start. Singida helped offset a moderate slowdown at New Luika, also in Tanzania, said Eric Zurrin, Shanta’s chief executive. For the current year, Shanta expects output to rise to between 100-106,000oz at all-in-sustaining costs of US$1,300- 1,350 per oz. Over the next four years, production is forecast to rise to an average of 169,00oz a year and the higher costs in 2024 reflect more exploration to achieve the target said the statement. A bid from Saturn Resources worth £142m or 13.5p per share was recommended by Shanta’s board last year. More at #Proactive #ProactiveInvestors http://ow.ly/qsW6105aium #AIM #OTC #SHG #SAAGF

The option of having a copper smelter-refinery in Papua New Guinea, especially at Vanimo, Wewak, Madang or Lae, needs to be considered seriously. Apart from those in China, Japan, South Korea and elsewhere, the closest one we have is Glencore-operated copper smelter-refinery facility at Townsville in North Queensland, Australia. OK Tedi closes in 2050. Wafi-Golpu and Frieda River are now in permitting stage. Yandera and Panguna are two major projects that will produce copper soon (in 10-20 years). Other copper-bearing mineral systems such as Nong River, Tifalmin, Mt Bini, Kili Teke, Kokofimpa (Bilimoia Area), Ipi River and April River (Niksek), amongst others, may be progressed with time to development . #Copper_Smelter #Copper_Refinery #Copper_Cathode_Plates #Ok_Tedi #Wafi_Golpu #Frieda_River #Yandera #Panguna #Nong_River #Tifalmin #Mt_Bini #Kili_Teke #Bilimoia_Area

We're pleased to share further significant results from ongoing drilling at our Kokoseb Gold Deposit in Namibia. With three drill rigs in operation, our dual focus is resource growth and classification upgrade.   🌟 Key Highlights: ➡️ Northern Zone – significant widths and grades, wide open at depth:  - 43.1m at 1.34 g/t Au from 249.4m (KRD180)  - 22.9m at 1.89 g/t Au from 330.7m (KRD183)  - 13.2m at 1.88 g/t Au from 380.6m (KRD189) ➡️ High-grade extensions between Western and Central Zones:  - 6.9m at 2.30 g/t Au from 303.8m (KDD025)  - 3.5m at 5.27 g/t Au from 313.7m (KDD025)  - 7.0m at 5.35 g/t Au from 321.7m (KDD025)  - 11.5m at 2.41 g/t Au from 333.4m (KDD025) ➡️ Gap Zone to Western Zone link – now higher-potential sub-parallel interpretation:  - 9m at 1.69 g/t Au from 75m (KRC194)  - 18m at 1.58 g/t Au from 224m (KRC194)   Our Executive Chairman, Josef El-Raghy, commented: “Kokoseb continues to deliver further significant drilling results as we target a range of strike and depth extension opportunities across the main zones. Our current drilling focus is also directed towards increasing classification levels of the existing MRE via further systematic drilling of the shallower mineralisation across these zones. With three rigs in operation at Kokoseb we look forward to a steady pipeline of drilling results over the remainder of 2024.”   Read the full announcement here: https://bit.ly/4apnm9r   #WiaGold #WIA #Kokoseb #GoldExploration #Namibia #ASXNews

Wia Gold bumps up gold MRE at its Namibian project: Wia Gold has revised its Mineral Resource Estimate (MRE) for its Kokoseb deposit, which forms part of the Damaran gold project in Namibia – bringing the new estimate to a high of 66 million tonnes (Mt) at 1.0 g/t Au for 2.12 million ounces (Moz). The Kokoseb deposit’s size aligns

Indonesia gold mines

Otjikoto to process 3.4 million tonnes of ore in 2024: For 2024, the Otjikoto Mine in Namibia, in which B2Gold holds a 90% interest is expected to process a total of 3.4 million tonnes of ore at an average grade of 1.77 g/t gold with a process gold recovery of 98.0%. “Processed ore will be sourced from the Otjikoto pit

Far East Gold Ltd (ASX:FEG, OTC:FEGDF) is plotting a course to a JORC-compliant #gold resource at the PT Iriana Mutiara Idenburg gold concession in Indonesia, engaging SMG Consulting to lead a site visit and audit of drill cores and assay work. SMG also produced an exploration target report for Idenburg, in the Keerom Regency in Papua province, sketching out a best-case scenario target of up to 7.2 million ounces at up to 6.1 g/t gold for the tenements. Only five of 14 identified prospect areas have been drill tested thus far, offering a high level of exploration potential as the concessions sit within a gold province hosting multi-million-ounce gold and copper deposits of up to more than 70 million ounces of gold. These deposits include Grasberg (+70 million ounces), Porgera (+7 million ounces), Frieda River (20 million ounces) and Ok Tedi (20 million ounces). More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #CopperMining http://ow.ly/oR4i105FsL7

We're pleased to report results from the maiden grade control drilling program at the Kiaka South pit at our Kiaka Gold Project in Burkina Faso. Kiaka South is located 700m from the Kiaka Main pit, and is set to deliver higher grade mill feed in first 18 months of production. Thick zones of high-grade near surface mineralisation have been intercepted (multiple ending in mineralisation) including: ✅ ­ 22m at 7.6 g/t gold ­✅ 26m at 5.8 g/t gold ­✅ 26m at 5.6 g/t gold ­✅ 28m at 4.8 g/t gold ✅ ­ 11m at 11.6 g/t gold ✅ ­ 9m at 13.8 g/t gold Pre–production grade control drilling activities continue at Kiaka Main with further results imminent. Read the full ASX release here: https://loom.ly/dAtG_po

According to the Ministry of #Industry and #Mineral Resources, the number of factories in the #SaudiArabia increased by 10% in 2023; 11,549 factories were operating by the end of the year. ▪️Also last year, 1,379 new industrial licenses were issued, with SAR81 billion in investments, and production started in 1,058 new factories, with SAR45 billion invested in them. ▪️According to ministry spokesman Jarrah Al-Jarrah, the new licenses were distributed among 25 industrial activities, with total investments for the 11,549 factories estimated at SAR1,541 trillion. The top four activities were #manufacturing: #food products, non-metallic #mineral products, formed #metal products, and #rubber and #plastic products. ▪️National establishments were issued the highest number of industrial licenses, 1,043, followed by those with foreign #investment, 194 licenses, and those with joint investment, 142 licenses. ▪️Small establishments accounted for the largest number of licenses issued, 1,203, followed by medium-size outfits, with 158 licenses, micro-enterprises, 15 licenses, and large establishments with three licenses. ▪️The #Riyadh Region had the largest share of licenses issued, 479, followed by the Eastern Region with 340 licenses, the #Makkah Region with 269 licenses, the #Qassim Region with 87 licenses, and the Madinah Region with 79 licenses. ▪️The Ministry of Industry and Mineral Resources releases essential industrial indicators monthly through the National Industrial and Mining #Information Center. These indicators, including those related to the mining sector, show the nature of industrial activity in the Kingdom, the extent of change in the sector, and new industrial investments. 🗞️ #RiyadhDaily.

Great article on the Simandou project in the Financial Times. It really captures the sense of progress that all of us working on the project here in Guinea are feeling day to day. As Simandou draws nearer to operations, we are living out our commitment to realizing this project safely, quickly, and with the interest of Guineans at its heart. Already, we are making a positive impact through the creation of new jobs, investment in local businesses, and the transfer of knowledge and skills to Guinean workers. This landmark project ushers in a ‘new era’ of mining, as the article states. Of particular interest is the discussion of Simandou’s role in the global energy transition. With its high-grade iron ore resource, Simandou represents a major opportunity to reduce the carbon associated with steel production, making possible our low-carbon future. It really is a privilege to work on such a significant project - thanks to @FinancialTimes for the write-up!  https://lnkd.in/eix5A-uZ #SimandouProject #Guinea #RioTinto #MySimandouStory #LocalContent #Simfer