Tietto Minerals Ltd (ASX:TIE) is expected to deliver its first gold pour within 10 days at the 3.45-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa.
As development nears completion, the company has begun wet commissioning of the 4.5 million tonnes per annum CIL processing system.
Constructed on budget and schedule, the build has been completed in less than 12 months and is fully funded with no debt and zero hedging.
Tietto’s definitive feasibility study (DFS) for the Abujar Gold Project has forecast 260,000 ounces of gold in its first year of production.
“Monumental achievement”
Tietto managing director Dr Caigen Wang said: “To build a gold mine the size of Abujar in less than 12 months is a monumental achievement.
“To do it during COVID with supply chain issues, escalated pricing and skilled people shortage made it, almost, mission impossible.
“Our in‐house construction team has demonstrated it can be delivered through careful planning, diligent management and hard work.
“What a great team and achievement led by the captain, our COO Matthew Wilcox.
“I would like to thank our mine construction team, ESG team, mining team, contractors and consultants, local communities, government authorities at various levels and many more.
“We would also like to thank our shareholders who have put us in a position where we have no debt, zero hedging and in a position to produce ~260,000 ounces in the first 12 months of production once we reach commercial production.”
Wet commissioning
Tietto’s 4.5 million tonnes per annum SAG mill and CIL processing system is in wet commissioning with up to 10,000 tonnes per day grade pre‐striping material.
All critical spares and reagents are on site with open‐pit mining stockpiles building with more than 15,000 tonnes per day of ore being added to the run‐of‐mine (ROM) pad.
Abujar Gold Mine 4.5 million tonnes per annum CIL processing system in operation.
“Most challenging schedule”
Tietto CEO Matthew Wilcox said: “I am extremely proud of the team who have delivered the project in less than 11 months from pouring first concrete, which, I believe, is the most challenging schedule for a project of this magnitude that has been achieved in the last decade in West Africa.
“A schedule made possible by an outstanding owners’ team and a great team of contractors and consultants who achieved the job safely and on budget.
“I would like to thank the construction team led by Daniel Kotzee, our outstanding engineering consultants in Primero and ECG, as well as our key contractors; Wacom (concrete), Friedlander (field erected tanks), NCP (mill installation), EPSA (mining), Peloton (electrical labour) and Enikon (SMP), as well many other local contractors, who all went above and beyond to achieve the schedule.
“A great effort by the projects commercial team, led by Hesbon Okwayo, who achieved an outstanding result under difficult global conditions, and supported by Antrak Logistics and Bollore, who managed to get the equipment to site in the time frames required.
“Also special thanks to our owners’ earthworks team, led by Guillaume Hubert and supported by Citland (HDPE lining), who achieved amazing work under difficult conditions.”
Abujar Project
Tietto’s 2021 DFS for Abujar demonstrated the project can produce 260,000 ounces of gold in its first year of production at an all-in-sustaining-cost (AISC) of US$651 per ounce and 1.2 million ounces of gold over the first six years of production – averaging 200,000 ounces per year at an AISC of US$804 per ounce.
With an estimated life of mine revenue of US$2.87 billion at a US$1,700 per ounce gold price, Abujar can deliver pre-tax cashflow of US$1.28 billion and achieve payback within a year of the first production.
Abujar has a current mine life of 11 years with scope for Tietto to extend this with further near-mine and regional exploration success.
Aerial view of the Abujar plant.
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