Carosue Dam Gold Mine

The Carosue Dam Gold Mine is a gold mine located south of Laverton, Western Australia.

Carosue Dam
Location
Carosue Dam Gold Mine
Location in Australia
LocationLaverton
StateWestern Australia
CountryAustralia
Coordinates30°11′S 122°24′E
Production
Production111,163
Financial year2010–11
History
Opened2000
Active2000–2005
2010–present
Owner
CompanySaracen Mineral Holdings Limited
WebsiteSaracen website
Year of acquisitionFebruary 2006

It is currently owned by Saracen Mineral Holdings Limited.

Carosue Dam was previously owned by the now defunct mining company Sons of Gwalia Limited.[1] Sons of Gwalia went into administration on 30 August 2004 and the company's gold mining operations were sold to St Barbara Limited in March 2005 for A$38 million, having been valued by the Sons of Gwalia directors at A$120 million. It was one of four gold mines sold to St Barbara in this deal, the other three being the Marvel Loch Gold Mine, the Tarmoola Gold Mine and the Gwalia Gold Mine.[2][3][4]

The mine was placed in care and maintenance by St Barbara in June 2005 and sold to Saracen in February 2006. Saracen reopened the mine in early 2010.

History
Gold mines in the Kalgoorlie region

Located within the South Laverton gold field, situated 120 km North East of Kalgoorlie, the processing plant at Carosue Dam was constructed and commissioned in 2000, then owned by Pacmin Mining. In October 2001, it was acquired by Sons of Gwalia.[5] During its five-year operation until June 2005, the mine produced over 700,000 ounces of gold.[6]

After the collapse of Sons of Gwalia in 2004, the mine continued producing but was placed in care and maintenance by St Barbara three months after its purchase.[7]

In October 2005, St Barbara announced the sale of Carosue Dam to Saracens for A$19.4 million in cash and shares. St Barbara acquired a 20% interest in Saracens through this transaction.[8]

With the purchase of the mine by Saracen, the new owners developed a two-staged plan to reopen the mine in 2010. After a period of open pit mining, lasting for three to five years, the second stage will also include an underground operation.[9]

On 15 June 2009 Saracen announced that the mine would be connected to the Western Power grid through a 90 km power line rather than being supplied by diesel generators on site. This line, scheduled to be completed in late 2010, is estimated to cost between $10 to 15 million but should provide the company with savings in the range of $50 to 100 per ounce of gold produced.[10]

In November 2009, Saracen announced that the $7 million construction project at the mine had been finished and plant commissioning had started. Gold production was scheduled to begin in February 2010,[11] with the first gold pour announced on 29 January 2010.[12]

Production

Production of the mine:

Year Production Grade Cost per ounce
2001[13] 121, 161 ounces 1.76 g/t A$345
2002[13] 95,144 ounces 1 1.8 g/t A$388
2002–03[14] 139,894 ounces A$426
2003–04[15] 172,388 ounces A$387
2005[7] 29,528 ounces 2 3.28 g/t A$349
2005–09 inactive
2009–10[16] 25,036 ounnces A$654
2010–11[17] 111,163 ounces A$738
  • 1 2002 results for January to September only.
  • 2 For 28 March to 30 June period only.

Sources

References
  1. The Australian Mines Handbook: 2003-2004 Edition, page 520
  2. Sons of Gwalia Limited at delisted.com.au accessed: 3 September 2009
  3. St Barbara Mines Limited - Lodgment of Open Briefing Archived 15 September 2009 at the Wayback Machine published: 28 June 2005, accessed: 3 September 2009
  4. The West Australian, published 16 March 2005, accessed: 3 September 2009
  5. MINEDEX on the Web Archived September 11, 2008, at the Wayback Machine accessed: 4 September 2009
  6. Saracen website - Plant and Infrastructure Archived September 11, 2009, at the Wayback Machine accessed: 4 September 2009
  7. "St Barbara annual report 2005" (PDF). Archived from the original (PDF) on 13 October 2009. Retrieved 3 September 2009.
  8. St Barbara annual report 2006 Archived 13 October 2009 at the Wayback Machine accessed: 4 September 2009
  9. Saracens website - Operations - Stage 2 Archived September 11, 2009, at the Wayback Machine accessed: 4 September 2009
  10. Carosue Dam Operations - Mains power supply Saracens website, published: 15 June 2009, accessed: 5 September 2009
  11. Carosue Dam plant commissioning commenced Gold production expected in February 2010 Archived July 6, 2011, at the Wayback Machine ASX announcement, published: 30 November 2009, accessed: 27 December 2009
  12. First Gold Pour at the Carosue Dam Operations Saracens ASX announcement, published: 29 January 2010, accessed: 30 January 2010
  13. The Australian Mines Handbook: 2003-2004 Edition, page 77
  14. Sons of Gwalia annual report 2003 accessed: 12 January 2010
  15. Sons of Gwalia fourth quarter report 2004 accessed: 12 January 2010
  16. Quarterly Activities Report June 2010 Saracen ASX announcement, published: 29 July 2010, accessed: 5 August 2011
  17. Quarterly Activities Report June 2011 Saracen ASX announcement, published: 28 July 2011, accessed: 5 August 2011
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