{"id":1136131,"date":"2019-09-03T11:07:43","date_gmt":"2019-09-03T16:07:43","guid":{"rendered":"https:\/\/www.mining.com\/?p=1000892"},"modified":"2019-09-03T11:07:43","modified_gmt":"2019-09-03T16:07:43","slug":"newmont-goldcorps-ahafo-mill-in-ghana-yields-first-ore-after-expansion","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1136131","title":{"rendered":"Newmont Goldcorp\u2019s Ahafo mill in Ghana yields first ore after expansion"},"content":{"rendered":"<p>Newmont Goldcorp\u2019s (NYSE: NEM) (TSX: NGT) Ahafo mill expansion project in Ghana <a href=\"https:\/\/www.newmontgoldcorp.com\/newsroom\/news-details\/?newsId=d21c3a79-040b-457d-a931-3633d8230cbb\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has processed its first<\/a> ore and remains on track to achieve commercial production in the fourth quarter.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The upgrade was designed to improve production margins and<br \/>\naccelerate stockpile processing, while supporting the gold mine\u2019s underground<br \/>\nresource.<\/p>\n<p>The project is expected to increase average annual gold production at the Ahafo mine by between 75,000 and 100,000 ounces for the first five years, starting in 2020.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Upgrade  is expected to increase average annual gold production at Ahafo by between 75,000 and 100,000 ounces for the first five years, starting in 2020<\/p>\n<\/blockquote>\n<\/figure>\n<p>\u201cCombined with Subika&nbsp;underground, which was successfully completed in November 2018, the mill expansion will increase Ahafo\u2019s production to between 550 000 oz\/y and 650 000 oz\/y through 2024, while lowering life-of-mine processing costs,\u201d the company\u2019s president&nbsp;Tom Palmer&nbsp;<a href=\"https:\/\/www.newmontgoldcorp.com\/newsroom\/news-details\/?newsId=d21c3a79-040b-457d-a931-3633d8230cbb\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in a statement<\/a>.<\/p>\n<p>It also accelerates the processing of stockpiled ore and<br \/>\nsupports profitable development of the mine\u2019s underground resources, he added.<\/p>\n<p>The expansion is expected to deliver an internal rate of<br \/>\nreturn of more than 20% and, together with other&nbsp;projects&nbsp;at Ahafo,<br \/>\nwill extend profitable production through to at least 2029.<\/p>\n<p>This year, the mine is expected to achieve record production<br \/>\n\u2013 with improved costs \u2013 driven by higher grades from the Subika open- pit, a<br \/>\nfull year of&nbsp;mining&nbsp;from the Subika&nbsp;Underground&nbsp;and the<br \/>\ncompletion of the Ahafo Mill expansion (AME)<\/p>\n<p>Capital costs for the AME are estimated at between<br \/>\n$140-million and $180-million and have been funded through free cash&nbsp;flow&nbsp;and<br \/>\navailable cash balances.<\/p>\n<p>Commercial production at Ahafo, located about 307km<br \/>\nnorthwest from the capital city of Accra, began in 2006.<\/p>\n<p>Last year, the mine sold 436,000 ounces of gold at all-in<br \/>\nsustaining costs of $864 per ounce. <\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/newmont-goldcorps-ahafo-mill-in-ghana-yields-first-ore-after-expansion\/\">Newmont Goldcorp\u2019s Ahafo mill in Ghana yields first ore after expansion<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Upgrade  is expected to increase average annual gold production at Ahafo by between 75,000 and 100,000 ounces for the first five years, starting in 2020.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/newmont-goldcorps-ahafo-mill-in-ghana-yields-first-ore-after-expansion\/\">Newmont Goldcorp&rsquo;s Ahafo mill in Ghana yields first ore after expansion<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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