Carosue Dam Gold Mine
Encyclopedia
The Carosue Dam Gold Mine is a gold mine
located south of Laverton, Western Australia
.
It is currently owned by Saracen Mineral Holdings Limited.
Carosue Dam was previously owned by the now defunct mining company Sons of Gwalia Limited. Sons of Gwalia went into administration on 30 August 2004 and the company's gold mining operations were sold to St Barbara Limited in March 2005 for A$
38 million, having been valued by the Sons of Gwalia directors at A$120 million. It was one of four gold mines sold to St Barbara in this deal, the other three being the Marvel Loch Gold Mine
, the Tarmoola Gold Mine
and the Gwalia Gold Mine
.
The mine was placed in care and maintenance by St Barbara in June 2005 and sold to Saracen in February 2006. Saracen plans to reopen the mine in early 2010.
After the collapse of Sons of Gwalia in 2004, the mine continued producing but was placed in care and maintenance by St Barbara three months after its purchase.
In October 2005, St Barbara announced the sale of Carosue Dam to Saracens for A$19.4 million in cash and shares. St Babrbara acquired a 20 % interest in Saracens through this transaction.
With the purchase of the mine by Saracen, the new owners developed a two-staged plan to reopen the mine in 2010. After a period of open pit
mining, lasting for three to five years, the second stage will also include an underground operation.
On 15 June 2009 Saracen announced that the mine would be connected to the Western Power
grid through a 90 km power line
rather than being supplied by diesel generators on site. This line, scheduled to be completed in late 2010, is estimated to cost between $ 10 to 15 million but should provide the company with savings in the range of $ 50 to 100 per once of gold produced.
In November 2009, Saracen announced that the $ 7 million construction project at the mine had been finished and plant commissioning had started. Gold production was scheduled to begin in February 2010, with the first gold pour announced on 29 January 2010.
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:...
located south of Laverton, Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
.
It is currently owned by Saracen Mineral Holdings Limited.
Carosue Dam was previously owned by the now defunct mining company Sons of Gwalia Limited. Sons of Gwalia went into administration on 30 August 2004 and the company's gold mining operations were sold to St Barbara Limited in March 2005 for A$
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
38 million, having been valued by the Sons of Gwalia directors at A$120 million. It was one of four gold mines sold to St Barbara in this deal, the other three being the Marvel Loch Gold Mine
Marvel Loch Gold Mine
The Marvel Loch Gold Mine is a gold mine located at Marvel Loch, 30 km south of Southern Cross, Western Australia.It is operated by St Barbara Limited...
, the Tarmoola Gold Mine
Tarmoola Gold Mine
The Tarmoola Gold Mine is a gold mine located 29 km north-west of Leonora, Western Australia. The mine has been placed in care and maintenance since September 2004, when a pit wall failure forced its closure.It is owned by St Barbara Limited...
and the Gwalia Gold Mine
Gwalia Gold Mine
The Gwalia Gold Mine is located at Gwalia, a few kilometres south of Leonora, Western Australia. It was originally established by Welsh miners in the late 19th century and Herbert Hoover, the later President of the United States, served as the mine manager in its early days from May to November...
.
The mine was placed in care and maintenance by St Barbara in June 2005 and sold to Saracen in February 2006. Saracen plans to reopen the mine in early 2010.
History
Located within the South Laverton gold field, situated 120 km North East of Kalgoorlie, the processing plant at Carosue Dam was constructed and commissioned in 2000, then owned by Pacmin Mining. In October 2001, it was acquired by Sons of Gwalia. During its five year operation until June 2005, the mine produced over 700,000 ounces of gold.After the collapse of Sons of Gwalia in 2004, the mine continued producing but was placed in care and maintenance by St Barbara three months after its purchase.
In October 2005, St Barbara announced the sale of Carosue Dam to Saracens for A$19.4 million in cash and shares. St Babrbara acquired a 20 % interest in Saracens through this transaction.
With the purchase of the mine by Saracen, the new owners developed a two-staged plan to reopen the mine in 2010. After a period of open pit
Open-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....
mining, lasting for three to five years, the second stage will also include an underground operation.
On 15 June 2009 Saracen announced that the mine would be connected to the Western Power
Western Power
Western Power Corporation , owned by the Government of Western Australia, was Western Australia's major electricity supplier from 1995 through 2006...
grid through a 90 km power line
Power Line
Power Line is an American political blog, providing news and commentary from a conservative point-of-view. It was originally written by three lawyers who attended Dartmouth College together: John H. Hinderaker, Scott W. Johnson, and Paul Mirengoff...
rather than being supplied by diesel generators on site. This line, scheduled to be completed in late 2010, is estimated to cost between $ 10 to 15 million but should provide the company with savings in the range of $ 50 to 100 per once of gold produced.
In November 2009, Saracen announced that the $ 7 million construction project at the mine had been finished and plant commissioning had started. Gold production was scheduled to begin in February 2010, with the first gold pour announced on 29 January 2010.
Production
Production of the mine:| Year | Production | Grade | Cost per ounce |
| 2001 | 121, 161 ounces | 1.76 g/t | A$ 345 |
| 2002 | 95,144 ounces 1 | 1.8 g/t | A$ 388 |
| 2002-03 | 139,894 ounces | A$ 426 | |
| 2003-04 | 172,388 ounces | A$ 387 | |
| 2005 | 29,528 ounces 2 | 3.28 g/t | A$ 349 |
| 2005-09 | inactive | ||
| 2009-10 | 25,036 ounnces | A$ 654 | |
| 2010-11 | 111,163 ounces | A$ 738 | |
- 1 2002 results for January to September only.
- 2 For 28 March to 30 June period only.
Sources
- 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
External links
- Place Names Search Results - Carosue Dam Geoscience AustraliaGeoscience AustraliaGeoscience Australia is an agency of the Australian federal government. It carries out geoscientific research.On a user pays basis it produces geospatial products such as topographic maps and satellite imagery.-History:...
website - Saracen website - Carosue Dam operations