Tropicana Gold Mine
|Location||Great Victoria Desert|
|Production||448,116 troy oz|
|Company||AngloGold Ashanti (70%), Independence Group NL (30%)|
AngloGold website |
|Year of acquisition||2001|
The Tropicana Gold Mine project is located 330 km northeast of Kalgoorlie, Western Australia. Since 2002, it has been jointly owned by AngloGold Ashanti (70% - manager) and Independence Group (30%).
The Tropicana deposit was discovered in 2005. The nearby Havana deposit was discovered in 2006. Mining commenced in July 2012 and first ore was sent to the crushing circuit in July 2013. The first gold was poured on 26 September 2013.
A pre-feasibility study carried out by AngloGold Ashanti in 2007-08 showed the mine capital cost would be A$500 million to $540m and could produce up to 430,000 ounces of gold a year.
The projects location at the western edge of the remote Great Victoria Desert constitutes one of the biggest barriers for the project, with 220 km of road having to be built to be able to access the future mine and a 40 megawatt power station being required to supply it with electricity.
The project is estimated at an initial mine life of 10 years, now extended to 15, with an annual production of around 330,000 to 400,000 ounces (9000-11,000 kg) of gold and an overall production of 3.6 million ounces (102,000 kg).
The decision for the mine to go ahead is expected in 2010 while mining is scheduled to begin in 2013. AngloGold Ashanti sold its 33% stake in the Boddington Gold Mine in early 2009 to Newmont, a move seen by analysts as the "logical thing" in order to be able to afford the expenditure of the Tropicana development.
The open pit at the mine is scheduled to be up to 6 km long, 1.5 km wide and up to 400 m deep.
The development of the mine was approved by boards of the two companies on 11 December 2010. Construction is to start in June 2011, while the first gold pour is scheduled for December 2013. The cost of the project is estimated to be in excess of A$700 million.
- The Australian Mines Handbook: 2003-2004 Edition, Louthean Media Pty Ltd, Editor: Ross Louthean
- Western Australian Mineral and Petroleum Statistics Digest 2008 Page 34: Principal Mineral and Petroleum Producers - Gold
- Tropicana looking good as AngloGold itches to go The Australian, published: 28 July 2009, accessed: 3 January 2010
- "History". Tropicana Joint Venture. AngloGold Ashanti Australia Ltd and Independence Group NL. Retrieved 6 December 2016.
- AngloGold Ashanti website - Country Report Australia accessed: 3 January 2010
- Gold - AIMR 2008 - Australian Mines Atlas Geoscience Australia website, accessed: 3 January
- Miner eyes '260km gold belt' in WA The Canberra Times, published: 28 July 2009, accessed: 3 January 2010
- As the price of gold sparkles, the future looks bright for junior explorers The Age, published: 24 November 2008, accessed: 3 January 2010
- AngloGold kicks off Tropicana approvals process The West Australian, published: 29 September 2009, accessed: 3 January 2010
- AngloGold to mine Tropicana gold in 2013 The Sydney Morning Herald, published: 27 July 2009, accessed: 3 January 2010
- Go-ahead for Tropicana gold operation perthnow.com.au, published: 11 December 2010, accessed: 23 December 2010