Mali's Yatela Mine Finally Calls It A

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SIGN IN MENU Members can save articles to their personal articles lists. Login here or sign up here Regions Mali’s Yatela mine finally calls it a day As mining activity finally ceases and closure activities begin late this year, the Yatela gold mine has more than doubled its original estimated minelife. Dorothy Kosich / 16 September 2013&nbsp09:25 Iamgold and its joint venture partners, AngloGold Ashanti and the government of Mali, have decided to suspend mining activities at the Yatela Mine in Mali, effective September 30, 2013. AngloGold Ashanti is the operator of the gold mine, which has been in operation since 2001. The initial closure of the mine was planned for 2007. However, other economically exploitable deposits led Yatela SA to defer closure several times. “This decision reflects a combination of factors, including miner safety in the pit, the drop in the spot price of gold and the reduction of profit margin,” said an Iamgold news release issued Sunday. The Yatela mine is located about 25 kilometers north of Iamgold’s Sandiola operation near the Senegal-Mali border. Attributable gold production for the mine for the second quarter of this year was 5,000 ounces, as total operating material mined dropped 41% as the mine nears the end of its life. All-in-sustaining cost per ounce were $2,395 during the second quarter, down from $2,643/oz during the same period of last year. Gord Stothart, Iamgold COO, said, “It has been extraordinarily difficult to extend the life of mine at Yatela given this environment of rising costs and falling gold prices. We recognize the contribution of the contracted and employed Malian mine workers to the Yatela mine, however, we and our partners believe that this is the best decision at this time as the mining activities at Yatela are no longer capable of making a positive contribution to any of our stakeholders.” “We will now be able to turn more of our attention to the mines and projects which we are more confident can make a positive contribution,” he added. “While circumstances have led to this decision to wind down the mining operations at Yatela, we are hopeful that a longer-term future can be forged with our partners at the nearby Sadiola mine,” said Iamgold CEO Steven Letwin. “We are appreciative of the government’s efforts to provide support for the transformation of Sadiola to process sulphide ore and help us find solutions to keep us engaged in mining with Mali.” Iamgold stressed that Yatela’s community development activities will not be affected by the conclusion of mining activities. A new social development plan focusing on the expansion and marketing community development and current socio-economic projects is being development. HOME REGIONS LATEST HEADLINES Investing in silver for a first time buyer SA’s gold index drops after Fed signals more rate hikes Gold beaten by more hawkish Fed Adding to the national value: is beneficiation the answer? NO COMMENTS SO FAR Comments on this article are closed. Home Contact Mineweb About Mineweb Privacy policy Price and trade data source: JSE Ltd. All other statistics Terms and conditions calculated by Profile Data. All data on this page is delayed by at least 15 minutes. Copyright © 2016 Moneyweb Holdings Ltd. All Rights Reserved. .

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Arend J Hoogervorst1 B.Sc.(Hons), Mphil., Pr.Sci
Audits & Training Eagle Environmental Arend J Hoogervorst1 B.Sc.(Hons), MPhil., Pr.Sci. Nat., MIEnvSci., C.Env., MIWM Environmental Audits Undertaken, Lectures given, and Training Courses Presented2 A) AUDITS UNDERTAKEN (1991 – Present) (Summary statistics at end of section.) Key ECA - Environmental Compliance Audit EMA - Environmental Management Audit EDDA -Environmental Due Diligence Audit EA- External or Supplier Audit or Verification Audit HSEC – Health, Safety, Environment & Community Audit (SHE) – denotes safety and occupational health issues also dealt with * denotes AJH was lead environmental auditor # denotes AJH was contracted specialist local environmental auditor for overseas environmental consultancy, auditing firm or client + denotes work undertaken as an ICMI-accredited Lead Auditor (Cyanide Code) No of days shown indicates number of actual days on site for audit. [number] denotes number of days involved in audit preparation and report write up. 1991 *2 day [4] ECA - AECI Chlor-Alkali Plastics, Umbogintwini, KwaZulu-Natal, South Africa. November 1991. *2 day [4] ECA - AECI Chlor-Alkali Plastics- Environmental Services, Umbogintwini, KwaZulu-Natal, South Africa. November 1991. *2 Day [4] ECA - Soda Ash Botswana, Sua Pan, Botswana. November 1991. 1992 *2 Day [4] EA - Waste-tech Margolis, hazardous landfill site, Gauteng, South Africa. February 1992. *2 Day [4] EA - Thor Chemicals Mercury Reprocessing Plant, Cato Ridge, KwaZulu-Natal, South Africa. March 1992. 2 Day [4] EMA - AECI Explosives Plant, Modderfontein, Gauteng, South Africa. March 1992. *2 Day [4] EMA - Anikem Water Treatment Chemicals, Umbogintwini, KwaZulu-Natal, South Africa. March 1992. *2 Day [4] EMA - AECI Chlor-Alkali Plastics Operations Services Group, Midland Factory, Sasolburg. March 1992. *2 Day [4] EMA - SA Tioxide factory, Umbogintwini, KwaZulu-Natal, South Africa.
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Title – All Capital
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