Owere Mines Signs Tailings Deal

News: Owere Mines, a subsidiary of Australian exploration firm Signature Metals, has signed a heads of agreement with Australia's B&C Gold to process gold tailings in Ghana. Under the terms of the agreement, Owere would purchase gold-bearing tailings from B&C, and treat and process the tailings using existing facilities at its Konongo gold project in Ghana. B&C would be responsible for all the costs and approvals associated with the mining, blending and delivery of the tailings. The deal requires Owere to purchase a minimum of 1mn dry metric tonnes of tailings from B&C over a three-year period at an aggregate purchase price based on the amount of dry tonnes delivered, the grade of the tailings and the monthly average gold price. Production is expected to start in March 2014.

This article is tagged to:
Sector: Mining
Geography: Ghana

Access all of our latest analysis, data and forecasts - request a trial