Golden Grove Mine
| Location | |
|---|---|
  Golden Grove Mine Location in Australia | |
| Location | Yalgoo |
| State | Western Australia |
| Country | Australia |
| Coordinates | 28°44′41″S 116°56′38″E / 28.74472°S 116.94389°ECoordinates: 28°44′41″S 116°56′38″E / 28.74472°S 116.94389°E |
| Production | |
| Products |
Copper Gold Lead Silver Zinc |
| Production |
Copper: 18,467 tonnes Gold: 47,755 ounces Lead: 13,300 tonnes Silver: 3,157,837 ounces Zinc: 139,900 tonnes |
| Financial year | 2008 |
| Owner | |
| Company | EMR Capital |
| Website | |
| Year of acquisition | 2017 |
The Golden Grove Mine is a copper, lead, silver, zinc and gold mine located 52 km south-south-east of Yalgoo, Western Australia. It is operated by EMR Capital, a specialist resources private equity manager, who purchased the mine from MMG in February 2017.
History
The mine was originally owned by Australian Consolidated Minerals Pty Ltd[4] before passing into the ownership of Normandy Poseidon Ltd in November 1991. Normandy, now renamed Normandy Mining Ltd, was acquired by Newmont Australia Ltd in February 2002.[5] Newmont sold the mine to Oxiana Limited in June 2005 for A$265 million[6] and Oxiana merged with Zinifex to form OZ Minerals in mid-2008.[7] OZ Minerals sold Golden Grove in June 2009 to China Minmetals Corporation (CMC) through its subsidiary China Minmetals Non-ferrous Metals Co. Ltd (CMN), as part of a packages of mines, whilst retaining the Prominent Hill mine in South Australia, when the company was hit by severe financial difficulties.[8] Minerals and Metals Group, now known as MMG Limited, was formed in June 2009 following the purchase of these assets of OZ Minerals Limited (OZ Minerals). On 30 December 2016, MMG entered into a conditional share sale agreement with EMR Golden Grove Holdings Pty Ltd, an entity owned and managed by EMR Capital, for the purchase of MMG Golden Grove Pty Ltd for US$210 million. Economic risk and benefit of the Golden Grove mine were passed to EMR BidCo from 1 January 2017 and the share sale agreement was completed on 28 February 2017. The Golden Grove mine currently consists of two operations that are 3 km apart, the Gossan Hill underground mine and the Scuddles underground mine, which both produce zinc, copper, lead, silver and gold.[6] The Gossan Hill deposit was first discovered in 1971 and the Scuddles deposit was first discovered in 1979. Development of the Scuddles mine commenced in 1988 with first production in 1990. In June 2009, OZ Minerals announced that a trunnion bearing failure on its mill at Golden Grove had put the mill out of service for almost a month, shortly before the approval of the sale of the mine,[10] but operations resumed in July 2009.[11]
Production
Production figures for the mine: 1
| Year | Copper | Gold | Lead | Silver | Zinc |
| 2001 [1] | 22,249 t | 5,356 oz | 4,937 t | 975,146 oz | 77,569 t |
| 2002 [1] | 19,500 t | 10,300 oz | 4,937 t | 899,500 oz | 34,571 t |
| 2003 | |||||
| 2004 | |||||
| 2005 [2] | 21,808 t | 25,272 oz | 4,949 t | 2,174,620 oz | 70,508 t |
| 2006 [2] | 10,811 t | 49,354 oz | 11,458 t | 3,005,611 oz | 138,817 t |
| 2007 [2] | 15,404 t | 48,807 oz | 8,119 t | 3,165,408 oz | 131,954 t |
| 2008 [3] | 18,467 t | 47,755 oz | 13,300 t | 3,157,837 oz | 139,900 t |
| 2009** | 16,658 t | 0.9 million oz | 2,662 t | 818,050 oz | 36,375 t |
- 1 January to September 2002 only. **Total contained metals for June–December 2009.
Sources
- The Australian Mines Handbook: 2003-2004 Edition, Louthean Media Pty Ltd, Editor: Ross Louthean
- Western Australian Mineral and Petroleum Statistics Digest 2008 Page 34: Principal Mineral and Petroleum Producers - Gold
References
- 1 2 The Australian Mines Handbook: 2003-2004 Edition, page 317
- 1 2 3 Oxiana 2007 annual report accessed: 12 January 2010
- ↑ Oxiana/OZ Minerals 2008 annual report accessed: 11 January 2010