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MALI: Construction start-up on planned $80,000,000 gold mine, RANGOLD RESOURCES LTD. [South Africa] - Order #: 055006a.

Publication: WWP-Report on Mining, Metal Making and Conversion
Publication Date: 01-JUN-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

South Africa-based RANGOLD RESOURCES LTD. recently began developing its Loulo gold mine in western Mali. The property contains estimated reserves of 1.4 million ounces of gold identified in 2 main pits located adjacent Mali's border with Senegal. The company's feasibility study does not however include satellite ore bodies or underground resources.

Operating plans envision a plant throughput of 180,000 metric tons per month in order to yield 200,000 ounces of gold per year over an initial 6-year mine life. The capital cost to build the open pit operation has been pegged at $80,000,000. In so doing, first production is scheduled for some time around July 2005.

RANGOLD, incorporated in the Channel Islands, operates as an African gold mining exploration and mining company.

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