Allied Gold
Encyclopedia
Allied Gold Mining PLC is an Australia
n based Pacific Rim
gold producer with gold production, exploration and development projects in Papua New Guinea
and the Solomon Islands
. It is a constituent of the FTSE 250 Index
.
.
gold (and silver) mine
on Simberi Island
, the northern most island of the Tabar Group
, in the New Ireland Province of eastern Papua New Guinea. The mine is wholly owned and operated by Allied Gold. Gold production started in February 2008. Seven gold deposits have been defined in mining lease 136 (ML 136), which covers the central and eastern portion of Simberi Island, and other prospects have been identified. As of June 2009, Allied reported that the total resources were 4.7 million ounces (Moz) gold: oxide gold resources of 1.4 Moz and sulphide
gold resources of 3.3 Moz together with 10.2 Moz silver. Ore is delivered to the processing facilities on the eastern coast near Pigiput Bay by aerial conveyor. The process plant is a conventional carbon-in-leach (CIL) gold process plant capable of treating 2.2 million tonnes of ore per year. Production for the 2008 calendar year was 75,267 ounces (2,133,787 grams).
in 2009. A refurbishment has been completed with the first gold being poured in March 2011 and commissioning completing in June 2011. Gold Ridge is expected to produce 100,000 - 110,000 ounces during 2012.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n based Pacific Rim
Pacific Rim
The Pacific Rim refers to places around the edge of the Pacific Ocean. The term "Pacific Basin" includes the Pacific Rim and islands in the Pacific Ocean...
gold producer with gold production, exploration and development projects in Papua New Guinea
Papua New Guinea
Papua New Guinea , officially the Independent State of Papua New Guinea, is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands...
and the Solomon Islands
Solomon Islands
Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
. It is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The company dates back to 2003 when it took an interest in the original owner of the gold mining project on Simberi IslandSimberi Island
Simberi Island is a volcanic island in the Tabar Group, in Papua New Guinea's New Ireland Province.-Geography and geology:Simberi is the northern most and smallest of the three islands in the Tabar Group. The island is about 9 km long and 7 km wide and has an area of about 40 square...
.
Simberi, Papua New Guinea
Allied Gold operates an open pitOpen-pit mining
Open-pit mining or opencast mining refers to a method of extracting rock or minerals from the earth by their removal from an open pit or borrow....
gold (and silver) mine
Gold mining
Gold mining is the removal of gold from the ground. There are several techniques and processes by which gold may be extracted from the earth.-History:...
on Simberi Island
Simberi Island
Simberi Island is a volcanic island in the Tabar Group, in Papua New Guinea's New Ireland Province.-Geography and geology:Simberi is the northern most and smallest of the three islands in the Tabar Group. The island is about 9 km long and 7 km wide and has an area of about 40 square...
, the northern most island of the Tabar Group
Tabar Group
The Tabar Group is an island group in Papua New Guinea, located 40 km north of New Ireland. It is a part of the Bismarck Archipelago. The Tabar group consists of a short chain of three main islands - Tabar Island in the south, Tatau Island in the center, and Simberi Island in the north - as...
, in the New Ireland Province of eastern Papua New Guinea. The mine is wholly owned and operated by Allied Gold. Gold production started in February 2008. Seven gold deposits have been defined in mining lease 136 (ML 136), which covers the central and eastern portion of Simberi Island, and other prospects have been identified. As of June 2009, Allied reported that the total resources were 4.7 million ounces (Moz) gold: oxide gold resources of 1.4 Moz and sulphide
gold resources of 3.3 Moz together with 10.2 Moz silver. Ore is delivered to the processing facilities on the eastern coast near Pigiput Bay by aerial conveyor. The process plant is a conventional carbon-in-leach (CIL) gold process plant capable of treating 2.2 million tonnes of ore per year. Production for the 2008 calendar year was 75,267 ounces (2,133,787 grams).
Gold Ridge, Solomon Islands
In 2009, Allied Gold acquired the Australian listed Solomons Gold company and its Gold Ridge project on Guadalcanal Island in the Solomon IslandsSolomon Islands
Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
in 2009. A refurbishment has been completed with the first gold being poured in March 2011 and commissioning completing in June 2011. Gold Ridge is expected to produce 100,000 - 110,000 ounces during 2012.