Canadian miner B2Gold has published an updated 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.