Focus (ASX:FML) return Coolgardie to production
July 21, 2023Focus Minerals has delivered on its plans to return Coolgardie to production, with open pit mining and commissioning of the Three Mile Hill processing facility now underway at its Coolgardie Gold Operations in Western Australia.
The processing facility is expected to hit its designed production capacity of 1.2Mtpa in a matter of a few months – with first gold production on rails for this quarter.
Focus Minerals Executive Chairman Wanghong Yang said it was an achievement wrought from diligent planning and good work from its team and contracting partners on its pathway back to production.
“Special recognition must be given to the Macca Interquip team who have worked collaboratively with us and have successfully delivered an outstanding refurbished plant on schedule. Commissioning of the plant will now proceed toward full capacity in the following months,” Mr Yang said.
“Mining commencement of the Greenfields Open Pit earlier this month is also a significant milestone achieved with our open pit mining contractor Ozland Mining Services. Working closely with Focus, Ozland has delivered a professional and rapid commencement to mining activities backed up by robust management systems and support,” he added.
The road back to production
Focus stands as the largest landholder in the Coolgardie gold belt, where gold was found the year before discovery in Kalgoorlie. The processing plant was originally recommissioned in 2009, but low gold prices lead to the company suspending production in 2013 to concentrate on exploration while targeting higher grade, larger scale ore bodies.
Focus left Three Mile Hill in care and maintenance while it added new gold from underexplored areas, bringing in nearly 700,000 ounces in mineral resources since 2008 from tenements including a number of historic high grade mining zones which remained improperly tested.
And now with fresh ounces and high gold prices, Coolgardie will fire again, and in what once was Western Australia’s third largest town, Focus has a new and operational 100 room accommodation facility at the Coolgardie townsite.
The price of gold remains close to the US$2000 per ounce mark, and with BRICS nations buying up ounces and eyeing off a new gold standard, a clear signal from the Federal Reserve that interest rates have reached their peak could well be the spark for another bull run.
Mining underway in the Greenfields open pit
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