Tietto Minerals announced on 6 July 2023 that it had commenced commercial production at its Abujar gold mine in Côte d’Ivoire, less than 18 months after the start of construction of the processing plant. The company signed a mining convention with the Côte d’Ivoire government on 26 May 2023, in accordance with the provisions of the Côte d’Ivoire Mining Code.
This agreement is valid for 10 years, and may be renewed for additional periods of 5 years.
The press release states that Tietto produced 15,592oz of gold in the second quarter of 2023, following its production of 9,500oz of gold in the first quarter. Throughput at the plant in June exceeded the feasibility study rate of 4 million tonnes per year. Tietto continues to optimise plant throughput, reaching peak rates of over 16,000 tonnes per day during June. It hopes to exceed its nameplate capacity in the second half of the year.
Tietto Minerals produced its first ingot in January 2023. With mineral resources of 3.83 million ounces of gold and ore reserves of 1.69 Moz, Tietto is forecasting gold production and costs for the six months from 1 July to 31 December 2023 of 105,000 to 120,000 ounces of gold at a sustaining cost of US$875 to US$975 per ounce. Tietto is well positioned to continue to build its resource base at Abujar while increasing gold production in 2023. The Abujar mine is located approximately 30km from the town of Daloa and close to excellent regional and local infrastructure, including the power grid.
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