Articles for tag: central, fully, funded, Guinea, Lime, Mayur, Papua, project, Resources

April 22, 2024

Ron Finklestien

mining

Mayur Resources fully funded for Central Lime project in Papua New Guinea

Under the terms, Appian is providing a $63 million senior facility and a US$7 million royalty on the CLP, along with a $22.2 million over-run facility and $22.2 million for future expansion beyond base case capacity. With near-term production targeted within 18 months of financial close, the CLP is located within Mayur’s Single Factory Special Economic Zone, close to both domestic and overseas markets in Australia and Asia. The project has government support in PNG, creating local jobs and with the potential to meet 100% of domestic quicklime requirements, Appian said in a news release. “CLP is well-positioned to be

January 25, 2024

Ron Finklestien

mining

Hummingbird Resources Plans to Revive Gold Mine in Guinea Hummingbird Resources Plans to Revive Gold Mine in Guinea

Hummingbird Resources, an Africa-focused miner, has announced its intention to recommence operations at the Kouroussa gold mine situated in Guinea. The company plans to ramp up production, aiming to achieve full commercial output before the end of March. This decision follows the initial gold pour at the mine back in June last year. Upon reopening, the company aims to produce between 120,000 and 140,000 ounces of gold annually in the first three years of commercial production. Subsequently, the average annual gold production is expected to stabilize at 100,000 ounces over an initial seven-year period at Kouroussa. Looking ahead, Hummingbird Resources