Endeavour Mining's construction of its Ity Carbon-in-Leach (CIL) project in Côte d'Ivoire is tracking two months ahead of schedule and remains on-budget.
The first gold pour is now expected to occur in early Q2-2019 rather than mid-2019 as previously planned.
Milestones achieved to date
- More than 6 million man-hours worked with zero lost-time injuries;
- Overall project completion stands at over 75%, tracking approximately two months ahead of schedule;
- Nearly all of the $412 million initial capital cost has been committed and approximately 65% has been spent;
- The process plant construction is over 70% complete, tracking ahead of schedule as the Ball and SAG mill installation commenced three months earlier than initially planned. Structural, mechanical, piping and electrical installation work is well underway.
"Completing the construction sooner is expected to result in material improvement to our 2019 free-cash flow generation potential as Ity Carbon-in-Leach (CIL) will be a low-cost operation with AISC expected to be below $500/oz over its first 5 years, comments Endeavour president and CEO, Sébastien de Montessus.
Jeremy Langford, COO & executive VP for Endeavour projects adds that the experience that the company's in-house construction team has gained from its previous builds in the region, the early installation of the Ball and SAG mills, combined with the excellent progress made during the rainy season, have been key factors which have helped advance the Ity CIL construction ahead of schedule.
"We are also particularly pleased with the continued strong safety track record with zero lost-time incidents to date," says Langford.