DGAP-News: Nord Gold N.V.: First gold poured at new Bissa mine in Burkina Faso
ID: 220463
(firmenpresse) - EquityStory.RS, LLC-News: Nord Gold N.V. / Key word(s): Miscellaneous
Nord Gold N.V.: First gold poured at new Bissa mine in Burkina Faso
17.01.2013 / 11:40
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First gold poured at new Bissa mine in Burkina Faso
(Amsterdam, Ouagadougou, January 17, 2013) - Nord Gold N.V. ('Nordgold' or
'the Company', LSE: NORD), an independent, internationally diversified,
pure-play gold producer strategically focused on emerging markets, is
pleased to announce that construction of its Bissa Mine in Burkina Faso is
now complete and gold production has begun.
The mine was officially opened by His Excellency the Prime Minister of
Burkina Faso Luc Adolphe Tiao and CEO of Nordgold Nikolai Zelensky, in the
presence of His Excellency the President of the National Assembly Roch Marc
Christian Kabore, the President of the Constitutional Council Dr. DéAlbert
Millogo, the Minister for Mines, Quarries&Energy Mr. Lamoussa Salif
Kabore, regional governors and other officials.
Bissa has been completed ahead of schedule and on budget. Total investment
in the project was US$ 250 mln and it was completed in 15 months.
Bissa Mine - Key Facts
Location Country Burkina FasoBissa is now the Company's second operating asset in Burkina Faso and the
100km north of
Location Ouagadougou
Access to national
Infrastructure highway
Operational Statistics Mine Type Open pit
Technology Crushing, milling, CIL
Mining Rate 4Mtpa
Peak Production Up to 200 Koz per annum
Proven&Probable Reserves 1.8 Moz
Anticipated cash costs US$ 600-700/oz
third asset in Africa, bringing the total number of Nordgold's operating
mines to nine. In Burkina Faso Nordgold already operates the Taparko mine,
which was the first mine built in the country in 2007. The launch of Bissa
makes Nordgold the first gold miner operating two mines in Burkina Faso.
Bissa is situated in the rural commune of Sabce, 100 km north of the
capital of Burkina Faso, Ouagadougou. As at January 2012, the project's
proved and probable reserves (JORC) of gold were estimated at 1,803 koz at
1.83 g/t while measured, indicated and inferred resources totaled 4,929 koz
(1.1 g/t).
According to the current reserves' estimates, the life of mine is expected
to be around 10 years. Meanwhile the Company sees potential to increase the
mine's reserve base through conversion of resources to reserves and its
ongoing exploration programme. Planned capacity of the open pit mine is 4
mt of ore per annum, producing up to 200 koz of gold annually. The plant
consists of crushing, milling (SAG and ball mills) and carbon-in-leach
circuits (CIL), a method of recovering gold from solution.
In 2013 Bissa is expected to produce up to 100 koz of gold. More precise
guidance will be givenduring the ramp-up process later this year.
Nordgold will issue full year 2012 operational results on 22 January and
will host a media call to discuss the results and the completion of Bissa.
Philip Baum, Chairman of Nordgold commented:
'First gold production from the Bissa Gold Mine is a very important
milestone for us. We have seen the project completed through from start to
finish in just 15 months, ahead of schedule and on budget. It clearly
demonstrates our team's ability to develop these significant projects and
will serve to accelerate our organic growth for the benefit of all
stakeholders. Bissa has the potential to be a major gold producing asset
and it forms a key part of Nordogold's growth strategy alongside the
Company's other leading development project - Gross in Russia. We expect
that the first ore from Gross will be treated at our Neryungry mine
facility by the end of 2013.'
Nikolai Zelenski, CEO of Nordgold, added:
'We are delighted to announce that the construction of the Bissa Gold Mine
is now complete. Bissa is a key development project for our company and
central to our growth strategy, but more importantly it is a crucial
producing asset for the people of Burkina Faso. We have made real efforts
to cultivate a good relationship with the citizens of our host country, on
both a local and a national level, and I would like to thank the Government
of Burkina Faso for their support as we have developed this significant
mine. As we move Bissa to full capacity, we will also focus our attention
on delivering the Gross development project. Together with the ramp up of
Bissa, Nordgold is very well placed to increase its global production
considerably.'
Enquiries
NordgoldFor further information on Nordgold please visit the Company's website -
Alexey Shchedrin Tel: +7 (917) 502 2048
Director of Corporate Communications&Investor Relations
Diana Asonova Tel: +7 (916) 347 9847
Press Secretary
Maitland
Peter Ogden Tel: +44 (0)20 7379 5151
James Devas
www.nordgold.com
About Nordgold
Nord Gold N.V. (Nordgold, LSE: NORD) is an international pure-play
emerging-markets gold producer established in 2007. The Company has
expanded rapidly through acquisitions and organic investment, achieving a
rate of growth unmatched in the industry during that period. Nordgold's
gold production reached 754 Koz in 2011.
The company operates nine active mines and has one development projects,
five advanced exploration projects and a diverse portfolio of early
exploration projects and licenses in Russia, Kazakhstan, Burkina Faso and
Guinea. Nordgold employs about 10,000 workers in CIS and West Africa.
The Company's proven and probable gold reserves as of January 1, 2012
totalled 12.7 Moz, while measured, indicated and inferred resources were
estimated at 29.5 Moz.
For further information on Nordgold please visit the Company's website
http://www.nordgold.com
End of Corporate News
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Language: English
Company: Nord Gold N.V.
Luna Arena, Herikerbergweg 238
1101 CM Amsterdam Zuidoost
Netherlands
Phone: +31 20 406 4480
Fax: +31 20 406 4555
Internet: www.nordgold.com
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