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Resolute must refund the deposit of US$5 million in five business days of the termination and that Chifeng has reserved all of its rights.
“We are pleased to have come to a quick and amicable resolution which provides clarity and confirmation of MGBL’s Mining Lease.
Resolute expects to generate sufficient operating cash flows to support debt repayments of $50 million in 2021.
The new plant will be highly efficient, reducing Syama’s power costs by approximately 40%, while reducing carbon emissions by about 20%.
Syama is regarded as the most advanced automated mine in the world and its progress is being keenly watched by the global mining community.
Syama will be an automated mine, and for those who say Africa isn’t ready to embrace digital, Syama has proven them wrong.
Resolute is forecasting total gold production for CY21 of 350,000 oz to 375,000 oz at an AISC/oz of US$1,200/oz to US$1,275/oz