Wits Gold delivered on a plate to Sibanye - Miningmx
Jan 07, 2014 · Equally difficult to digest for Wits Gold was its growth target Burnstone which had been developed for a breathtaking $800m or R8bn by the now bankrupt Great Basin Gold. Wits Gold had successfully bid for Burnstone from Great Basin’s liquidators offering R100 and offering to take over $177.3m in bank debt owed by Southgold, Great Basin’s subsidiary.
Failure at Burnstone will ruin Wits Gold: Kotze - Miningmx
Jul 05, 2013 · Great Basin Gold planned to produce 250,000 ounces a year of gold from Burnstone and had spent $800m building the mine and its infrastructure. Kotze thinks that no more than $100m in additional spend will be required to complete the mine, but that it will only produce up to 130,000 ounces a year, half of the original target.
Remember Burnstone - Mining Mirror Online
Wits Gold put in a bid to acquire the mine, but in the end, Sibanye Gold (today Sibanye-Stillwater), on an acquisition spree under CEO Neal Froneman, bought the Burnstone assets in July 2014, after the mine had been in care and maintenance for close to two years.
Wits Gold Takeover Of Burnstone Mine – xinhai
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wits gold takeover of burnstone mine - warewa-dorty.cz
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Wits Gold bids for Burnstone, decision expected next week
Wits Gold expected to take control of the operation – which has more than six-million ounces of gold in proven and probable reserves and a forecast life-of-mine upwards of 25 years – during ...
Wits Gold to bid for Burnstone | Miningreview.com
Mar 22, 2013 · Unconfirmed reports suggest Russia’s Renova and a Chinese company are on the list.In a statement issued here, Wits Gold said it had spent R20 million on a diligence study of Burnstone, which mines the channelised Kimberley Reef near Balfour in Mpumalanga.The hard work has been done by Great Basin, which built a metallurgical plant, a decline shaft and a vertical shaft at the mine.Wits …
Witwatersrand Consolidated Gold Resources Limited (Wits ...
Witwatersrand Consolidated is a step closer to gaining its first producing asset with its selection as sole preferred bidder for the Burnstone gold mining operation in the South Rand area in Mpumalanga province, South Africa.
Sibanye to push Burnstone restart from zero base
Sibanye to push Burnstone restart from zero base. JOHANNESBURG (miningweekly.com) – Johannesburg- and New York-listed Sibanye Gold was reviewing options to bring the idled Burnstone mine back to life from a “zero base”, in a R7-million deal senior VP for business development Richard Stewart described as a “no-brainer”.
Projects - Sibanye-Stillwater
As of 31 December 2018, Burnstone contains total surface and underground gold reserves of 1.95 million oz and mineral resources of 10.98 million oz. We acquired the Burnstone assets on our acquisition of Wits Gold in July 2014.
Sibanye bids R407m for Wits Gold - Mining Weekly
Wits Gold, which would need to inject R950-million over three years as working capital to bring the Burnstone mine back into production, including an initial payment of R7.25-million, was expected ...