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Researched by Industrial Info Resources (Sugar Land, Texas)--The start of commercial production at a gold mine expansion in Nevada marks its completion, but it isn't alone this year. In all, Industrial Info is tracking more than $690 million in gold mine-related projects that will have reached completion this year in North America.
Newmont Mining Corporation (NYSE:NEM) (Denver, Colorado) announced on Tuesday commercial production had begun at its Twin Creeks Underground expansion project. The expansion adds higher-grade, lower-cost gold production at its Twin Creeks operation in Nevada.
The project was completed on schedule for $42 million, slightly below guidance of between $45 and $55 million, the company added. Industrial Info has tracked the expansion since July, 2017. For more information, see Industrial Info's project report.
The Twin Creeks Underground mine will add between 30,000 and 40,000 ounces of gold production per year, Newmont said in a press release. The new ore also will allow Newmont to process stockpiled ore that had previously been classified as waste, and extend the facility's processing life to 2030.
Ore from the Twin Creeks Underground mine also will be blended with ore from Turquoise Ridge, according to Newmont. In early 2018, Newmont and Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) approved the Turquoise Ridge Mine Optimization project, which involves sinking a production shaft to access the richest part of the deposit. The new shaft is expected to increase ventilation capacity and lower unit costs by more than 20%, while increasing ore production rates to at least 1.1 million tons per year when it comes on line in 2022. For more information, see Industrial Info's project report. For related information, see February 22, 2018, article - Barrick Gold Boosts Growth Capex for 2018.
The Twin Creeks expansion is just one of the North American gold-mining projects being tracked by Industrial Info that have been either completed, or are expected to be completed, this year.
Click on the image at right for a graph showing gold mine-related project completions this year in North America.
One of the U.S. projects that is expected to reach the finishing line by the end of the year is Barrick Gold's $100 million gold mine and heap leach process optimization project at the Cortez Gold Mine Complex in Crescent Valley, Nevada. The project, which kicked off construction in early 2016, is aimed at easing the transport of mined ores from underground to surface processing facilities at the 999,000-ounce-per-year gold mine. For more information, see Industrial Info's project report.
In Ontario, Canada, Tahoe Resources Incorporated (NYSE:TAHO) (Toronto) is expected to complete its $80 million mine shaft deepening expansion by the end of the year at its Bell Creek Complex. The project is expected to extend the mine life and will double production capacity up to 80,000 ounces per year over a five-year development period. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Newmont Mining Corporation (NYSE:NEM) (Denver, Colorado) announced on Tuesday commercial production had begun at its Twin Creeks Underground expansion project. The expansion adds higher-grade, lower-cost gold production at its Twin Creeks operation in Nevada.
The project was completed on schedule for $42 million, slightly below guidance of between $45 and $55 million, the company added. Industrial Info has tracked the expansion since July, 2017. For more information, see Industrial Info's project report.
The Twin Creeks Underground mine will add between 30,000 and 40,000 ounces of gold production per year, Newmont said in a press release. The new ore also will allow Newmont to process stockpiled ore that had previously been classified as waste, and extend the facility's processing life to 2030.
Ore from the Twin Creeks Underground mine also will be blended with ore from Turquoise Ridge, according to Newmont. In early 2018, Newmont and Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) approved the Turquoise Ridge Mine Optimization project, which involves sinking a production shaft to access the richest part of the deposit. The new shaft is expected to increase ventilation capacity and lower unit costs by more than 20%, while increasing ore production rates to at least 1.1 million tons per year when it comes on line in 2022. For more information, see Industrial Info's project report. For related information, see February 22, 2018, article - Barrick Gold Boosts Growth Capex for 2018.
The Twin Creeks expansion is just one of the North American gold-mining projects being tracked by Industrial Info that have been either completed, or are expected to be completed, this year.
One of the U.S. projects that is expected to reach the finishing line by the end of the year is Barrick Gold's $100 million gold mine and heap leach process optimization project at the Cortez Gold Mine Complex in Crescent Valley, Nevada. The project, which kicked off construction in early 2016, is aimed at easing the transport of mined ores from underground to surface processing facilities at the 999,000-ounce-per-year gold mine. For more information, see Industrial Info's project report.
In Ontario, Canada, Tahoe Resources Incorporated (NYSE:TAHO) (Toronto) is expected to complete its $80 million mine shaft deepening expansion by the end of the year at its Bell Creek Complex. The project is expected to extend the mine life and will double production capacity up to 80,000 ounces per year over a five-year development period. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
