Resolute Mining Limited Restarting mining at the Sarsfield open pit
Restarting mining at the Sarsfield open pit: Resolute Mining Limited (ASX: RSG) stock rose over 5.5% on February 02, 2017 as the mining at the Sarsfield open pit is expected to be recommenced. Queensland Department of Environment and Heritage Protection has supported the planned Ravenswood Expansion Project. With this Project, the group’s local operations would be extended by a further 13 years to at least 2029, enhancing the average annual gold production to more than 120,000 ounces, while Life-of-Mine All-in Sustaining Costs was A$1,166 per ounce. Further, open pit mining restart from Nolans East and continuing during 2017, and the processing capacity enhancement to 2.8 million tonnes per annum (Mtpa) have been contemplated. Regulatory approvals are expected to lead to mining restart at Sarsfield by early 2017 and Buck Reef West by mid-2018.
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