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The CEO Of The Mining Company Says The Company Plans To Increase Annual Production Capacity In Bahia To 230 Thousand Ounces By The Second Half Of 2023
On last Friday (07/30), the global CEO of Canadian mining company Yamana Gold, Peter Marrone, said that the company completed tests at its Jacobina gold mine complex in Bahia, whose results exceeded expectations for a planned increase in production in the coming years, with lower costs. The executive stated that the mining company plans to raise its annual production capacity to 230 thousand ounces by the second half of 2023, up from the approximately 180 thousand ounces currently produced, as part of the second phase of its expansion. Also see: Mining Company Discovers A New Area In Bahia With Significant Potential For Sulfated Nickel Exploration
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Reduction Of Investments And Increased Production Capacity
After the tests, the mining company was able to reduce its projected investments for the expansion between 2021 and 2023 by up to 70%, to an interval of 15 million and 20 million dollars, compared to the 57 million dollars previously forecast. A large part of the investments in the state of Bahia will be allocated in 2022.
The cost-cutting was possible after tests showed that the processing plant of the asset can safely achieve a daily production rate of over 8,500 tons per day, making the construction of a new plant, as previously planned by the mining company, unnecessary.
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Large Gold Mining Company In Brazil
Yamana, which is currently the third largest gold mining company in Brazil, behind only Kinross and AngloGold Ashanti, according to data from the Brazilian Mining Institute (Ibram), has already made significant expansions to its operations in Brazil in recent years.
In 2014, Yamana launched an important initiative to unlock the potential of its mines – since then, gold production more than doubled from 75 thousand ounces in 2014 to 177 thousand ounces in 2020, Marrone noted. The expectation for this year is to produce 180 thousand ounces.
In the second quarter of this year, the Jacobina mine produced 7,200 tons per day, a 5% increase compared to the previous quarter, the company informed the market. Marrone also highlighted that strong exploration results were achieved to support the expansion plan in the following mines that make up the Jacobina complex: João Belo, Canavieiras, and Morro do Vento.
Also Check This News: 600 Jobs Are Expected To Be Created By A Mining Company That Will Invest R$ 859.4 Million For The Production Of High-Purity Lithium In Minas Gerais
The Sigma Lithium mining company will invest R$ 859.4 million to produce high-purity lithium at the border between Araçuaí and Itinga, in the Jequitinhonha Valley, north of Minas Gerais. The company began earthworks for the production and processing plant in Grota do Cirilo, in Itinga, in June. This will be the first plant of its kind in the country, and the expectation is to complete the works in 2022, when it will start producing 220 thousand tons per year of lithium concentrate.
During the mining company’s work in the state of Minas Gerais, around 400 jobs could be created, reaching 6 thousand indirect job positions, according to the company. Sigma also states that the operation will be 100% digitized and electronically automated, controlled by an algorithm. Sustainable technologies have been adopted, such as 100% water recirculation, dry stacking of 100% of tailings (without the use of dams), and utilization of 100% renewable energy.
Ana Cabral explains that the investments are justified. The delivered and certified purified lithium would be in the range of US$ 750 to US$ 800 per ton. Currently, global production is concentrated in Chile and Australia. It is a highly specialized product, used by sectors such as information technology, automotive, and renewable energy.
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