Australian gold producer Newcrest Mining has permitted a A$214m ($150m) funding for the growth of its Telfer gold-copper mine operations in Western Australia (WA).
The funding will probably be used for the West Dome Stage 8 cutback positioned adjoining to the West Dome Stage 2 and West Dome Stage 5 pits on the Telfer operation.
Newcrest expects to provide its first ore within the December 2022 quarter and can prolong the operation of the mine into early FY2025.
Newcrest’s funding additionally contains mine operation prices and A$73m ($51m) of capitalised manufacturing stripping.
Newcrest Mining managing director and CEO Sandeep Biswas stated: “We’re delighted to additional prolong the lifetime of our Telfer operation, highlighting our skill to maximise the total potential of our property via our sturdy technical experience.
“Telfer is strategically positioned within the extremely potential Paterson Province and we’re persevering with to progress a number of potential choices to broaden the useful resource base within the open pits and underground to unlock extra worth.”
Situated within the Nice Sandy Desert of Pilbara, WA, Telfer includes the Major Dome, West Dome open pits and underground mines.
The Telfer low-grade mine is anticipated to provide 355,000oz to 405,000oz of gold within the 2023 fiscal yr.
The gold and copper manufacturing from the mine is shifted to Port Hedland within the Pilbara area. It’s then exported to numerous smelters, primarily within the Japanese Asia area.
Earlier this yr, Newcrest Mining acquired Pretium Sources, the proprietor of the Brucejack gold mine in British Columbia, Canada.
