Thursday, 27th September 2007 (3322 views)

Central Rand Gold has made plans to reopen historic commercial gold mines south of Johannesburg that have been closed since the 1970s, according to a report from Thomson Financial.

The company is looking to secure mining rights for the Central Rand goldfields, aiming to commence operations by August 2008 and hoping to produce 150,000 ounces of gold by the end of 2009, Miningmx.com has reported.

"The use of proven modern mass-mining techniques, such as underground processing, will hopefully reduce operating costs and minimise the environmental impact of any new workings, while enabling the rehabilitation of many old workings," Central Rand's chief executive officer Greg James told the online mining publication.

Thomson Financial said that the historic mine areas yielded a total of 247 million ounces of gold between 1886 and the early 1970s when the Central Rand goldfields operation was ceased because of low gold prices and inefficient mining techniques.

Mr James told Miningmx.com that he hopes to have production levels of one million ounces per year at the site by 2012.

 

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