Kingsgate gets approvals at Thailand gold mine

Final approvals have been given to gold miner Kingsgate Consolidated to access all mining areas at the Chatree Gold Mine in central Thailand.

The initial focus for Akara Mining, a subsidiary of Kingsgate, will be to address a wall failure and stress cracks brought on by the onset of the wet season, as required by the Highways Department, the company said in a statement.

The miner expects to produce 150 000 ounces of gold in the 2012 financial year, which combined with the expected 100 000 ounces from the Challenger mine, will bring the Group to a record production of around 250 000 ounces.

Kingsgate Managing Director Gavin Thomas said he is confident recent delays with weather and machinery will not damage the company’s production.

“We are pleased to have obtained approval to access all mining areas at Chatree including C North,” he said.

“This will ensure a strong second half to calendar 2011.

“The lowe production at Chatree in May as a result of the SCATS crusher failure and the delay in the receipt of the final access approvals was unfortunate, but we were able to utilise that time effectively and bring forward the SAG mill recline.

Importantly, the delays do not represent lost gold production but only a shift in timing into the next financial year which should be a record year for gold production at Kingsgate.”

To view Gavin Thomas’ personality profile interview, click here.

Image: Kingsgate

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