Current Edition >> Archives Section >> Leading Stories >> March 2009
• Johann Dannhauser
TVentersburg and its surrounding area would be boosted by a large new gold mine to be commissioned at a location approximately 14 km from Ventersburg and 25 km from Welkom.
Operational planning and construction is in an advanced stage and the owners of the Ventersburg Gold Mine, Aflease Gold, a subsidiary of Uranium One, expect production to realise already 20 000 oz this year, moving up to 140 000 oz in 2010 and 180 000 oz by 2011.
In 2006 the Department of Minerals and Energy issued a prospecting permit for the designated area of some 9 760 ha and since then gold deposits with a potential yield of eventually 300 000 – 400 000 oz/y have been identified.
Says the CEO of Aflease Gold, Neal Froneman, as quoted in Mining Weekly: “I have always held the view that Ventersburg is going to be a large mine. I don't want to describe it as a mega mine until we've done all the engineering work, but it looks a very nice project in the pipeline.”
Announcing indicated level compliance under both Canadian National Instrument 43-101(C1 43-101) and South Africa's Samrec codes for reporting of minerals and mineral reserves for Aflease's Ventersburg One project, Froneman stated: “Ventersburg could certainly be a completely new stand-alone mine and something similar to Beatrix for sure.”
Beatrix is the Gold Fields mine producing 400 000 oz/y to 500 000 oz/y of gold at a cost of $459 / oz. Present studies indicate contractible reserves of 8,7 millions of 5,12 g/t grade ore at the Ventersburg project. The sinking of more boreholes this year may increase the estimated potential of the mine.
As to job creation, it could be expected that the new mine would operate in a highly technological manner utilizing minimal human resources in skilled categories. However, the new mine would clearly bring in new employees with good consumer purchasing power to the area.
The mine will also definitely generate meaningful spin-off for local product and service suppliers, thus stimulating the economy of Ventersburg and its surrounding area. Property prices would no doubt also benefit.
The Free State can do with renewed optimism in its gold mining sector. The struggling mining sector has had a dampening effect on the province's economic performance, with a decline in September last year of 3,1 % in gold earnings on the Free State Barometer. The overall barometer stood at its lowest level since December 2005 and was more than 11 % down on September the previous year. At present the gold price stands good at $ 939 / oz.
Aflease Gold is business-wise to combine Ventersburg One with its flagship mine, Modder East, southeast of Johannesburg, into a company called Gold One International, which is to have dual primary listing on the ASX and the JSE.
For the Free State economy, struggling at a mere 5,3% of the national GDP, the news of the new mine at Ventersburg comes as a pleasant windfall.
The province is hard pressed for large economic projects in comparison with other provinces and this new development is certainly to be welcomed.
Interestingly, Aflease Gold is currently considering the possibility of opening another gold mine in the area known as the Bothaville Gap. Although this possibility has been confirmed, further details are not yet known.
For more info visit www.afleasegold.com and www.miningweekly.com.
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