African Barrick pulls trigger on Bulyanhulu expansion
The board of gold miner African Barrick has given its approval for the expansion of the processing plant at Bulyanhulu, Tanzania.
The board of gold miner African Barrick has given its approval for the expansion of the processing plant at Bulyanhulu, Tanzania.
The new carbon in leach circuit at the plant will add production in excess of 40,000 ounces of gold per annum for the first six years of the project from the first half of 2014, and will continue to boost production thereafter.
"This low risk brownfield project adds near term production at our flagship mine and provides significant flexibility as we look to further grow the production base of this world class asset," said African Barrick's Chief Executive Officer, Greg Hawkins.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The pre-production capital costs for the project will be
split roughly 30% in 2012 and 70% in 2013. The group is in the process of assessing funding options for the expansion.
JH
-
Can the gold price rise to $6,000?Gold prices have made dramatic jumps early in 2026. Can gold keep rising, or is it becoming a victim of its own success?
-
The top coastal locations where properties are losing valueProperty prices across a number of coastal hotspots plunged in 2025 - which areas are most affected?
