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MINE OF THE MONTH – GEITA
S
GEITA TIMELINE
1994
Start of exploration by Cluff Resources.
1995
0.4 Moz delineated by Cluff Resources.
1996
Acquisition of Cluff by Ashanti Goldfields.
1997
Ashanti outlines 3.5 Moz resource.
1998
Ashanti acquires SAMAX.
1999
Ashanti begins construction of 0.4 Moz/y mine at a projectcost of US$165 million.
2000
AngloGold acquires 50% of Geita mine to form a 50/50 jointventure with Ashanti.
2004
AngloGold merges with Ashanti to form AngloGold AshantiLtd which assumes 100% ownership of the operation.
Mining Magazine 
 
Mining Magazine
“Managing our risks, particularly costincreases and low productivity, wasthe main driver for the move fromcontractor to owner mining”
– Henk Fourie
 
12
Mining Magazine 
June 2006
MINE OF THE MONTH – GEITA
equipment on-site, which included a mix of 46 100 tKomatsu 785 and Caterpillar 777 trucks as well asLiebherr, Komatsu and Caterpillar excavators and drillrigs from Atlas Copco, Sandvik and Caterpillar.As part of a new expansion plan, AGA has alsoinvested in a new fleet of four Terex MT 4400 240 ttrucks and a 550 t Terex O&K RH340 hydraulicexcavator. The last of the trucks was commissioned inFebruary 2006.The development of the new infrastructure isexpected to be completed by October, and therefurbishment of the existing mining equipment isdue for completion in mid-2007. The cost-saving of the move is expected to equate to a reduction fromUS$1.95/t mined to about US$1.40/t. However,capital expenditure for the change-over to ownermining is expected to total US$81 million.The equipment fleet is set to expand furtheras the owner-mining programme develops, withthe addition of 13 more 240 t trucks and one 500 tshovel over the next two years. Mr Neethling saidof near-term goals at Geita: “We want toachieve the mining rates and the costs setout in the owner-mining study, becomingan 80 Mt/y and 800,000 oz/y operation by2007.”
ARTISANAL MINING
Artisanal or small-scale mining is an issueat many commercial mines and Geita is noexception. The concern among companieslike AGG is that while this is a source of in-come for the local community, the artisanalminers often use unsafe methods and stray
Continued on page 14Continued from page 11
TANZANIA GOLD MINES (2005)
Operation Owner Gold production Cash cost Gold production Proven and probable(oz) (US$/oz) commencement gold ore reserves (t)
Bulyanhulu Barrick 311,000 358 2000 304Tulawaka Barrick (70%) 87,000
4
253 2005 11
4
Geita AngloGold Ashanti 613,000 298 2000 264Golden Pride Resolute Mining 152,000 282 1998 18North Mara Placer Dome
3
250,000 303 2001 122Buhemba Meremeta 66,700 384 2003 21
1 In-situ and stockpiled ore at end-June 20052 2002 feasibility-study estimate3 Acquired by Barrick Gold Corp4 Barrick’s attributable share
“The equipment fleet is seto expand further as theowner-mining programmedevelops, with the additionof 13 more 240 t trucks andone 500 t shovel over thenext two years”
 As part of its mine expansion plans, AGA has purchased four new Terex MT 4400 240 t trucks
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