PRECIOUS METALS

Avesoro adds to Liberian fleet

Avesoro is purchasing US$17.1 million in machines for New Liberty

Staff reporter
Avesoro adds to Liberian fleet

Company officials said it has now sealed further financing agreements and will spend US$17.1 million on three Sandvik DP1500 surface drills, three Komatsu PC1250 excavators, eight Komatsu HD785 haul trucks, and additional auxiliary support equipment, including a Komatsu GD655 grader, two Komatsu D275A dozers and two Bomag BW213 drum rollers. 

In addition, it will be purchasing eight MTU Onsite Energy 2,290kVA diesel generators to replace units currently being rented for the 100%-owned New Liberty operation.

The deal was inked with Mapa, formally known as Mapa İnşaat ve Ticaret. Delivery to the Liberia operation is expected through the remainder of the year and into early March quarter 2018. 

New Liberty, which submitted its NI 43-101 report in late November just after commencing a 14,000m, 46-hole diamond core drilling campaign with four rigs, has an estimated proven and probable reserve base of 7.4 million tonnes with 717,000oz of gold at 3.03 grading.

Measured and indicated resources there total 9.6Mt with 985,000oz grading at 3.2g per tonne. Inferred minerals are estimated at 6.4Mt with 620,000oz at an average 3.0g/t grading. 

With New Liberty considered a keystone in its portfolio, Avesoro has said the operation is Liberia’s first and largest commercial gold mine.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production