Renaissance of Sunrise Dam Gold Mine
AngloGold Ashanti reported that the commissioning of the Recovery Enhancement Project at its Sunrise Dam Gold Mine in Western Australia was successfully completed on time at the end of June 2018, cementing the next step in the mine’s renaissance.
Development of the large, high-grade Vogue ore body at Sunrise Dam Gold Mine is now underway, which along with improved recoveries, increased mining volumes and a range of productivity enhancements, is expected to result in an increase in production of around 25%, to about 300,000 ounces in 2018.
AngloGold Ashanti will today map out the plan to sustain long-term production from the mine at 300,000 – 350,000 ounces a year, with all-in sustaining cost trending toward $900/oz in coming years, making this one of Australia’s most important gold mines and a cornerstone asset for the group.
“With a combination of innovation, strict capital discipline and incremental investment, we will see a significant step up in production and a reduction in our all-in-sustaining costs over time,” said Mike Erickson, AngloGold Ashanti’s Senior Vice President for Australia, said. “We are on an exciting improvement pathway at Sunrise Dam Gold Mine which will enable us to optimise the development world-class ore body and achieve sustainable cash margins over the life of mine.”
AngloGold Ashanti continues to prize strict capital discipline and high-return projects with relatively low capital expenditure, as it executes on its strategy to improve free cash flow generation and returns over time.
