Reports Tool + open

IN THIS SECTION
  Damang

Damang

Driefontein’s No 1 plant during winter at dusk  
During financial 2010 Damang produced 207,400 ounces of gold at a cash cost of US$660 per ounce and an NCE of US$774 per ounce.
In the 12 months to end-June 2011 the outlook for Damang is to produce between 220,000 and 240,000 ounces of gold at a cash cost of between US$570 and US$610 per ounce and an NCE of between US$880 and US$920 per ounce.
Damang at night.    

The Damang Gold Mine is located in south-western Ghana, about 300 kilometers by road, west of Accra, the capital of Ghana and 30 kilometers north of the neighbouring Tarkwa Gold Mine. The mine is served by a main road connecting to the port of Takoradi, some 90 kilometers to the south-east. The mine infrastructure consists of multiple open pits, surface stockpile sources and a CIL plant. The Damang Gold Mine exploits oxide and fresh hydrothermal mineralisation in addition to Witwatersrandstyle, palaeoplacer mineralisation, similar to that of the Tarkwa Gold Mine. The mine has a Mineral Resource of 4.7 million gold ounces and a Mineral Reserve of 2.1 million ounces.

Damang recently decided to move towards owner mining at the operation, which should result in a significant cut in the cash costs at the mine.

Gold produced
(’000oz)
 
Aerial view of pit
Aerial view of pit
 
Load and haul
Load and haul
   

    F2010 F2009 F2008 F2007 F2006
Open-pit mining            
Waste mined ’000t 8,658 15,057 27,300 28,109 21,563
Ore mined ’000t 3,871 4,402 4,092 3,141 3,172
Head grade g/t 1.38 1.34 1.43 1.20 1.47
Strip ratio W:O 2.24 3.42 6.7 9.0 6.8
Processing            
Tonnes milled ’000t 5,028 4,991 4,516 5,269 5,328
Yield g/t 1.3 1.2 1.3 1.1 1.4
Gold produced kg 6,451 6,233 6,041 5,843 7,312
  ’000oz 207 200 194 188 235
Total cash cost US$/oz 660 660 551 473 341
Notional cash expenditure US$/oz 774 745 753 637 439
Net attributable earnings US$m 32.6 6.5 18.4 11.4 19.4
Capital expenditure US$m 29.8 16.9 28.1 31.7 25.6