Canadian miner B2Gold has published a preliminary economic assessment (PEA) for its Gramalote joint venture (JV) with South Africa’s AngloGold Ashanti in Colombia, outlining plans for an openpit mine that will yield 3.85-million ounces over its 13.6-year mine life.
The PEA is based on a yearly processing rate of 11-million tons, with an average life-of mine (LoM) gold recovery of 94.3%.
The study calculates that Gramalote could produce an average of 416 000 oz/y for the first five years of production and average LoM production of 283 900 oz/y, at a cash cost of $544/oz. The average LoM all-in sustaining cost is estimated to be $648/oz.