Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Russian gold producer Nordgold announced on Thursday that the company has successfully increased the processing capacity of its Taborny mine from 5 million to 7.5 million tonnes of ore per year.
As part of the capacity expansion initiative, a two-line Metso crusher and a telescopic conveyor have been installed. A pumping station has also been built at the mine’s heap leaching site comprising four Sulzer pumps, each with a capacity of 400 cubic metres per hour.
“Completing a project of this scale on time despite the challenges presented by the pandemic is a testament to their skill and hard work. Increasing Taborny’s production capacity and investing in further technology is vital to maintain a stable production output,” Nordgold CEO Nikolai Zelenski said in a press release.
To ensure processing capacity can meet the corresponding increase in mining activity, this year Taborny has bought two additional hauling trucks, an excavator, a grader, two Epiroc drilling rigs and a number of auxiliary vehicles, including buses, fuel trucks, mobile repair units, a crane truck and a front loader.
Taborny is an open pit mine located in the Sakha (Yakutia) Republic in Russia’s Far East. The mine was opened in 2002 and acquired by Nordgold in 2007.
Last year it produced more than 76,000 ounces of gold.
