Desert Gold Ventures Eyes New Beginnings in Mali's Vibrant Gold Sector
In an exciting development for the gold mining industry, Desert Gold Ventures Inc. is setting the stage for the launch of its mining operations at the Barani and Gourbassi sites in Mali. The company, known for its ambitious projects, is currently in advanced talks with potential partners to secure the necessary funding to kick-start construction “as soon as possible.” This announcement comes on the heels of an updated preliminary economic assessment released on Tuesday that outlines an evolution in their mining strategy.
The capital requirement for initiating the mine has risen to an estimated .4 million, slightly up from an earlier figure of million. This adjustment aligns with Desert Gold’s phased development approach, emphasizing a sustainable trajectory for growth and investment. Impressively, the projected payback period for the investment stands at a compelling 2.1 years, making it a noteworthy opportunity for potential investors.
Jared Scharf, CEO of Desert Gold, noted the significant potential this project holds, stating, “With less than 10% of the SMSZ Project’s total gold resources incorporated into this study, there is substantial opportunity to enhance project economics and materially expand the operation over time.” The company’s strategy is particularly clever as it remains modular and flexible, which can adapt as the project unfolds.
One of the most promising aspects of the updated mine plan is the anticipated production increase. Desert Gold has revised its expected output to 130,700 ounces over a ten-year mine life, a substantial jump from the prior estimate of 97,600 ounces over a longer 17.4-year period. This revision comes after the eastern part of the Gourbassi deposit was successfully integrated into the mining plan, which is projected to double the monthly ore processing capacity to an impressive 36,000 tons.
Desert Gold holds a small mine operating permit for the SMSZ project and has not cited any regulatory challenges, which bodes well for its progress. Furthermore, this initiative arrives at a time when gold prices have soared to exceptional heights, with analysts, including those at the World Bank, predicting this trend will continue until at least 2027.
As Mali positions itself within the dynamic global gold market, this development not only signifies a step forward for Desert Gold but also highlights the nation’s potential as a key player in the African mining landscape.
Stay tuned to Africazine for more updates on this developing story and insights into the future of gold mining in Mali and beyond.
Tags: #Mali #GoldMining #Investment #Economy #BusinessNews
