Capricorn Metals gets approval for mine expansion project
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The news: Capricorn Metals has received Western Australian government approval for plans to expand mining activities at three open pits and announced that the mineral resource estimation (MRE) at its Mount Gibson gold project has increased.
The numbers: The Karlawinda Expansion Project is set to increase total processing capacity from 4Mtpa to 6.5Mtpa and increase average annual gold production from the expanded Karlawinda project by around by 25%. It is currently around 150,000 ounces.
In a quarterly exploration update, Capricorn also flagged that its MRE for the Mount Gibson gold project increased by 13% to 4.5 million ounces. This includes a 684 kilo ounce maiden underground MRE at Orion South and a maiden MRE of 110 kilo ounces at the Highway deposit.
The context: The Western Australian Department of Energy, Mines, Industry Regulation and Safety has approved the gold miner’s proposal and mine closure plan, which includes development of the Karlawinda Expansion Project.
In addition to expanding mining activity at three open pits, Capricorn will build additional mining waste facilities, an expanded processing plant and other supporting infrastructure.
Procurement and early site works will commence. The work will take about 12 months, with an optimised project schedule and updated capital cost estimates expected to be completed in Q2.
What they said: “We are really excited to have received approval for the construction and development of the Karlawinda Expansion Project,” Capricorn executive chair Mark Clark said.
"We have been working hard over the past 12 months to be as prepared as possible for commencement of the project and that should allow an expedited start to construction."
