Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Mako Mining (TSXV: MKO) has declared commercial production effective July 1 at its San Albino mine in northern Nicaragua.
San Albino has a 500 tonne per day gravity and carbon-in-leach processing plant, which has been operating since May 12. Mako says the plant has been averaging 456 tonnes per day at 71% availability, thereby meeting the commercial production threshold.
At the end of the pre-commercial production period, the company reported recovery of 6,300 oz. gold
At the end of the pre-commercial production period, the company reported a recovery of 6,300 oz. gold. The mill achieved an average of 96.3% gold recovery rate.
The company is starting its mining activities at the Porcelana zone, which hosts the highest grade-thickness profile at the San Albino property.
The company says it has stockpiled 116,748 tonnes of material by the end of June, containing 12,327 oz. gold grading at 3.29 grams per tonne.
The company was able to mine a total of 4,557 tonnes of diluted vein material, which contained 1,722 oz. gold grading at 11.75 grams per tonne gold. It also mined 25,263 tonnes of historical dump, which contained 2,088 oz. gold at 2.57 grams per tonne.
Accordingly, the plant milled 16,246 tonnes of material, containing 6,539 oz. gold at 12.52 grams per tonne.
The November 2020 estimate for the pit has fully diluted measured and indicated resources of 310,900 tonnes grading 9.54 gram per tonne gold, containing 95,400 oz. of gold. The fully diluted inferred resource is 226,700 tonnes grading 8.50 gram per tonne gold, containing 62,000 oz. of gold.
The estimate for potential underground mining includes measures and indicated material of 230,600 tonnes at 11.22 gram per tonne gold, containing 83,200 oz. The inferred portion is 116,100 tonnes at 8.42 grams per tonne gold, containing 51,200 oz.
The historical dumps are classified as inferred having 78,800 tonnes at 2.95 grams per tonne gold, containing 7,500 oz.
Sailfish Royalty (TSXV: FISH; US-OTC: SROYF) holds a gold stream equivalent to a 3% NSR on San Albino (about 3.5 sq. km) and a 2% NSR on the rest of the area (about 134.5 sq. km) surrounding San Albino.
