Gold price slips as traders weigh outlook for Fed interest rate cuts
Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.
MDM Engineering Group Limited (“MDM”) has been awarded the Process and Engineering Design to BFS level for a modular gold recovery plant for Taung’s Evander 6 shaft project.
The production profile for Evander 6 Shaft is expected to be such that for the first 8 years (including 2 years for project development), the gold plant capacity will not exceed 34 000 tonnes per month (“tpm”). During the following 18 months, the plant capacity is to increase to 68 000 tpm and ultimately to 102 000 tpm. The total life of the mine is expected to be 32 years with 30 years in production.
MDM is designing a plant that will minimize the use of water and will be power efficient. Additionally, environmental considerations will be taken into account in all designs, especially with regard to seepage and spillage control.
“MDM’s team has extensive gold experience in Africa and more recently South Africa, this experience will be drawn on when working on Evander 6 Shaft project. MDM looks forward to working with Taung Gold and Turnberry Projects on this project,” said MDM CEO Martin Smith.
