Nord Gold N.V.: First Gold Poured at New Bissa Mine in Burkina Faso
AMSTERDAM & OUAGADOUGOU, Burkina Faso -- January 17, 2013
Nord Gold N.V. ("Nordgold" or "the Company", LSE: NORD), an independent,
internationally diversified, pure-play gold producer strategically focused on
emerging markets, is pleased to announce that construction of its Bissa Mine
in Burkina Faso is now complete and gold production has begun.
The mine was officially opened by His Excellency the Prime Minister of Burkina
Faso Luc Adolphe Tiao and CEO of Nordgold Nikolai Zelensky, in the presence of
His Excellency the President of the National Assembly Roch Marc Christian
Kabore, the President of the Constitutional Council Dr. Dé Albert Millogo, the
Minister for Mines, Quarries & Energy Mr. Lamoussa Salif Kabore, regional
governors and other officials.
Bissa has been completed ahead of schedule and on budget. Total investment in
the project was US$ 250 mln and it was completed in 15 months.
Bissa Mine – Key Facts
Location Country Burkina Faso
Location 100km north of
Infrastructure Access to national
Operational Statistics Mine Type Open pit
Technology Crushing, milling, CIL
Mining Rate 4Mtpa
Peak Production Up to 200 Koz per
Proven & Probable Reserves 1.8 Moz
Anticipated cash costs US$ 600-700/oz
Bissa is now the Company’s second operating asset in Burkina Faso and the
third asset in Africa, bringing the total number of Nordgold’s operating mines
to nine. In Burkina Faso Nordgold already operates the Taparko mine, which was
the first mine built in the country in 2007. The launch of Bissa makes
Nordgold the first gold miner operating two mines in Burkina Faso.
Bissa is situated in the rural commune of Sabce, 100 km north of the capital
of Burkina Faso, Ouagadougou. As at January 2012, the project’s proved and
probable reserves (JORC) of gold were estimated at 1,803 koz at 1.83 g/t while
measured, indicated and inferred resources totaled 4,929 koz (1.1 g/t).
According to the current reserves’ estimates, the life of mine is expected to
be around 10 years. Meanwhile the Company sees potential to increase the
mine’s reserve base through conversion of resources to reserves and its
ongoing exploration programme. Planned capacity of the open pit mine is 4 mt
of ore per annum, producing up to 200 koz of gold annually. The plant consists
of crushing, milling (SAG and ball mills) and carbon-in-leach circuits (CIL),
a method of recovering gold from solution.
In 2013 Bissa is expected to produce up to 100 koz of gold. More precise
guidance will be given during the ramp-up process later this year.
Nordgold will issue full year 2012 operational results on 22 January and will
host a media call to discuss the results and the completion of Bissa.
Philip Baum, Chairman of Nordgold commented:
“First gold production from the Bissa Gold Mine is a very important milestone
for us. We have seen the project completed through from start to finish in
just 15 months, ahead of schedule and on budget. It clearly demonstrates our
team’s ability to develop these significant projects and will serve to
accelerate our organic growth for the benefit of all stakeholders. Bissa has
the potential to be a major gold producing asset and it forms a key part of
Nordgold’s growth strategy alongside the Company’s other leading development
project - Gross in Russia. We expect that the first ore from Gross will be
treated at our Neryungry mine facility by the end of 2013.”
Nikolai Zelenski, CEO of Nordgold, added:
“We are delighted to announce that the construction of the Bissa Gold Mine is
now complete. Bissa is a key development project for our company and central
to our growth strategy, but more importantly it is a crucial producing asset
for the people of Burkina Faso. We have made real efforts to cultivate a good
relationship with the citizens of our host country, on both a local and a
national level, and I would like to thank the Government of Burkina Faso for
their support as we have developed this significant mine. As we move Bissa to
full capacity, we will also focus our attention on delivering the Gross
development project. Together with the ramp up of Bissa, Nordgold is very well
placed to increase its global production considerably.”
Nord Gold N.V. (Nordgold, LSE: NORD) is an international pure-play
emerging-markets gold producer established in 2007. The Company has expanded
rapidly through acquisitions and organic investment, achieving a rate of
growth unmatched in the industry during that period. Nordgold’s gold
production reached 754 Koz in 2011.
The company operates nine active mines and has one development projects, five
advanced exploration projects and a diverse portfolio of early exploration
projects and licenses in Russia, Kazakhstan, Burkina Faso and Guinea. Nordgold
employs about 10,000 workers in CIS and West Africa.
The Company’s proven and probable gold reserves as of January 1, 2012 totalled
12.7 Moz, while measured, indicated and inferred resources were estimated at
For further information on Nordgold please visit the Company’s website
Director of Corporate Communications & Investor Relations
Tel: +7 (917) 502 2048
Tel: +7 (916) 347 9847
Tel: +44 (0)20 7379 5151
Press spacebar to pause and continue. Press esc to stop.