Friday, 10th June 2005 (2755 views)

Gold Fields has announced that it will be investing an additional US $45 million in the Damang mine, Ghana.

The investment will finance the Damang Pit Cutback Project, which is expected to increase the life of the mine by about two years to a total of five years.

The Project, located within the Damang mining area, some 30 kilometres north-east of Tarkwa in western Ghana, consists of a cutback to the west and east walls of the existing pit over a strike length of approximately 900 metres.

About 9.2 metres of ore at a grade of 2.40g/t is expected to be yielded by the extra depth of 60 metres, taking the total depth to 270 metres below ground level.

"I am confident that my hardworking geologists will discover additional sources of ore to even further extend the life of Damang," Brendan Walker, managing director of Gold Fields Ghana, told the Ghanaian Chronicle.

Mining in the main Damang pit ceased in December 2004. The current Mine Plan indicates that mining operations will be completed by December 2007.

 

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