Endeavour pours first gold at Ity CIL project
Endeavour Mining Corp. of London has poured its first doré bar from its Ity carbon-in-leach project four months earlier than planned and well under its $412 million budget. The bar contains about 1,800 oz. of gold.
The CIL plant is already running at its 4 million t/y capacity following the quick ramp up. Commercial production will probably be declared early in Q2 2019.
Endeavour has launched an optimization and de-bottlenecking program that is expected to boost throughput to 5 million t/y at a minimal cost of $10 million to $15 million. To reach the higher throughput, the company is upgrading pipes and pumps and adding a second 50-tonne oxygen plant. No additions to the mining fleet are necessary.
When the upgrade is complete, Ity will have an annual output of 300,000 oz. of gold at an all-in sustaining cost of $525 to $590 per ounce. Additional costs for the plant upgrade as well as construction of a fuel farm, building exploration facilities and addition crop compensation and resettlement charges, the final cost of the CIL plant was $420 million.
Endeavour is planning a $11-million exploration program with about 71,000 metres of drilling with the aim of defining additional resources.
This article first appeared in the Canadian Mining Journal.