JOHANNESBURG (miningweekly.com) – Dual-listed gold miner Central Rand Gold (CRG) has completed and executed the definitive documents that will govern its joint venture (JV) tolling agreement with an unnamed third-party supplier of gold-bearing ore.
CRG announced in June that it had entered into an agreement with the supplier, which would source gold-bearing material for processing through CRG’s metallurgical plant.
The agreement allowed for the processing of a minimum of 18 000 t/m of gold-bearing material to be processed through the metallurgical plant from July.
CRG has already received multiple deliveries of gold-bearing ore from the supplier and is stockpiling the ore at its metallurgical plant. The supplier will continue to deliver gold-bearing ore to CRG over the coming days.
CRG is conducting metallurgical testing to ensure optimum recoveries of gold are achieved from the material.
CRG is also continuing to advance due diligence and negotiations with other parties regarding various potential JVs, but says it will have to consider increasing the nameplate capacity of the metallurgical plant.
In this regard, the company is working with Zhejiang Golden Machinery Plant to conduct various tests and due diligence work streams regarding the JV opportunities and the potential expansion of the existing metallurgical plant.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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