Sadiola Gold Mine

Sadiola
Location
Sadiola Gold Mine
Location in Mali
Location Sadiola
Region Kayes
Country Mali
Coordinates 13°53′N 011°42′W / 13.883°N 11.700°W / 13.883; -11.700Coordinates: 13°53′N 011°42′W / 13.883°N 11.700°W / 13.883; -11.700
Production
Production 354,000
Financial year 2009
History
Opened 1996
Owner
Company AngloGold Ashanti (41%)
Iamgold (41%)
Government of Mali (18%)
Website AngloGold Ashanti website
Iamgold website

The Sadiola Gold Mine is an open-pit gold mine situated near Sadiola, in the Kayes Region of Mali. The operation is jointly owned by AngloGold Ashanti and Iamgold, who each have an effective holding of 41%, while the Government of Mali owns the remaining 18%. The International Finance Corporation originally held 6% of the mine put sold this share equally to Anglo and Iamgold in December 2009.[1]

Apart from Sadiola and the nearby Yatela Mine, AngloGold Ashanti's also operates the Morila Gold Mine in Mali. The production of its mines in Mali contributed 8 percent to the company's overall production in 2008.[2]

History

Mining in this region of Mali, according to old workings, dates back at least 1,000 years and written records confirm that small scale mining was carried out there for most of the past 300 years. From 1987 onward, the Government of Mali carried out exploration activities in the area, funded by the European Development Fund.[3][4]

Non-government mining exploration in the area began in 1990, by a predecessor company of Iamgold, and, in 1992, Anglo American entered into a joint venture with Iamgold to develop the project. Anglo American eventually transferred its rights to AngloGold, which, in 2004, became AngloGold Ashanti. Development of the mine begun in 1994 and it opened in 1996. While the mine is owned jointly by AngloGold Ashanti, Iamgold and the Government of Mali, AngloGold Ashanti is the operator of the mine.[4]

In 2009, the mine employed just over 1,500 people.[1] The development of the mine is however not universally seen as positive, with local farmers complaining that they have not been adequately compensated for loss of land or loss of cattle poisoned from a cyanide spill. But the mine however does supply clean drinking water for all the animals in the area that gets pumped out from boreholes within the mine. As well as electricity free of charge to the local village. (Sadiola) [5]

Further exploration drilling has taken place in the area surrounding Sadiola, new pits are in the development stages. Which should be starting later this year (2013) With gold being found in the first few meters of the pit.

Production

Production figures of the recent past were:

Year Production Grade Cost per ounce
2003 [6] 452,000 ounces 2.77 g/t US$ 210
2004 [6] 459,000 ounces 2.77 g/t US$242
2005 [6] 442,000 ounces 2.73 g/t US$265
2006 [7] 500,000 ounces 3.22 g/t US$270
2007 [1] 369,000 ounces 2.76 g/t US$414
2008 [1] 453,000 ounces 3.42 g/t US$399
2009 [1] 354,000 ounces 2.52 g/t US$488
2010
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References

  1. 1 2 3 4 5 Annual Report 2009 AngloGold Ashanti website, accessed: 27 July 2010
  2. ↑ Country report: Mali AngloGold Ashanti website, accessed: 26 July 2010
  3. ↑ Yatela Gold Mine, Mali: Overview Iamgoldwebsite, accessed: 28 July 2010
  4. 1 2 Sadiola Gold Mine, Mali: Overview Iamgoldwebsite, accessed: 28 July 2010
  5. ↑ Mining reforms in Mali leave the country poorer MAC: Mines and Communities website, published: 17 August 2005, accessed: 28 July 2010
  6. 1 2 3 Annual Report 2005 AngloGold Ashanti website, accessed: 11 July 2010
  7. ↑ Annual Report 2006 AngloGold Ashanti website, accessed: 11 July 2010
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