• About Us
  • Contact
Wednesday, March 29, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Sectors Mining

Nyanzaga gold project to cost $474 million – OreCorp

by Web Admin
22/08/2022
in Mining
0
Nyanzaga gold project to cost $474 million – OreCorp
Share on FacebookShare on Twitter

A definitive feasibility study (DFS) into the Nyanzaga gold project, in Tanzania, has estimated that the project will cost $474-million to develop.

ASX-listed OreCorp on Monday reported that the combined openpit and underground mine would produce  295 00 oz/y of gold at peak, averaging 250 000 oz/y for the first eight years of the mine life, and 242 000 oz/y for the first ten years.

Ongoing drilling activity at the Nyangaza gold project. The combined openpit and underground mine would produce  295 00 oz/y of gold at peak, averaging 250 000 oz/y for the first eight years of the mine life. Photo / courtesy.

Life-of-mine average gold production is estimated at 234 000 oz/y over the nearly eleven-year mine life.

The openpit is scheduled to deliver 1.2-million ounces over the project life, with the underground mining operation to deliver 1.64-million ounces. The underground operation will be developed to a depth of around 700 m below surface, with the deposit remaining open at depth.

All-in sustaining costs for the life of the operation are estimated at $954/oz.

The DFS estimated a pre-tax net present value of $926-million and an internal rate of return of 31%, based on a gold price of $1 750/oz.

OreCorp told shareholders on Monday that first gold from Nyanzaga is targeted for the first half of 2025.

“Nyanzaga’s DFS has delivered impressive results across all key metrics, demonstrating it can produce more than 242 000 oz/y of gold for 10 years at a low all-in sustaining cost of less than $1 000/oz, with annual gold production peaking at 295 000 oz in Year 6,” said CEO and MD Matthew Yates.

“Our estimated pre-production capital cost of $474-million includes underground development, openpit pre-strip, plant, project infrastructure and a $36-million contingency. We expect payback to be within four years post-tax.

“With a post-tax net present value of $618-million and internal rate of return of 25%, Nyanzaga has compelling metrics on the back of strong gold production over a long mine life,” Yates said.

“We have appointed Auramet as our debt advisers and commenced financing discussions with local and international banks and financial institutions. With the DFS now complete, we are excited to progress Nyanzaga, targeting first gold in 2025.”

SOURCE: MINING WEEKLY

Web Admin

Web Admin

Next Post
Dar bourse posts bullish performance as investor sentiment improves

Dar bourse posts bullish performance as investor sentiment improves

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 29 Mar.

Recommended

Tanzania among African countries ‘adding value’ streak ahead in Industrialisation Index

Tanzania among African countries ‘adding value’ streak ahead in Industrialisation Index

3 months ago
NMB Bank organizes Career Expo, reiterates commitment to support human resource development

NMB Bank organizes Career Expo, reiterates commitment to support human resource development

4 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili