Commercial production has been declared at the Abujar gold mine, in Côte d’Ivoire, less than 18 months after construction activities started.
ASX-listed Tietto Minerals on Thursday said that the project was forecast to generate strong cash flows during the second half of 2023, based on a production guidance of between 105 000 oz and 120 000 oz, at an all-in sustaining cost of between $875/oz and $975/oz.
Tietto produced 15 592 oz of gold at Abujar in the June quarter, after producing 9 500 oz in the March quarter.
“We are pleased to have reached this milestone at Abujar in less than 18 months after commencing earthworks on the process plant and I thank all members of the team for their efforts in achieving this result,” said MD and CEO Matt Wilcox.
“Mining rates increased markedly during the quarter, and we anticipate delivering strong net cash flow over the second half as we optimise mining and milling after achieving commercial production during June.”
The 4.5-million-tonne-a-year mine is forecast to produce some 200 000 oz/y of gold over the first six years of production, at an all-in cost of around $800/oz. Initially, Abujar will process lower-grade oxide ore from largely depleted artisanal mining zones prior to accessing the higher-grade fresh ore from the main pit, which is scheduled for April this year.
