Tolukuma Gold Mine, In Central Province, Will Begin Full Production Next Month.
Rosalyn Albaniel | Post Courier | June 13, 2017
Tolukuma gold mine, in Central Province, will begin full production next month.
This is under the management of the new operator, Tolukuma Gold Mines Limited, a subsidiary of Asidokona Mining Resources Pty Limited.
Tolukuma Gold Mines Limited executive director Vincent Siow said the firm had taken over from Petromin after they had been approached.
He said for the past year and a half, the company had been preparing for the production phase.
He said while the mine still had a lot of potential, the firm acknowledged with it would come with challenges as well.
He said unlike in the heydays of the mine, staff strength had been reduced from 600 plus, and it would be going into production with levels between, 300-400 workers, while production from the 9,000 ounces to just 1000-2000oz, with plans to ramp up.
“Production will not be full scale because equipment is a bit old.”
“We are expecting there will be some stress points. We may have to buy new equipment after we indentify the stress points, but we have everything all planned,” Mr Siow said.
Commenting on the revised the Memorandum of Agreement, which had been signed off yesterday by all except one of the parties, Mr Siow expressed relief on the part of the company.
He said when the firm took over from Petromin, they had agreed to take on all the commitments that had been agreed on by their predecessor.
“The board in Singapore had agreed because to disagree would only mean further delay,” he said.
“By and large, this MOA is a very important document. It identifies the role of all parties; if we all stick to it, I believe we will have a very good working relationship. I hope to see that good cooperation among all parties,” he added.