The Syama Complex, located in the south of Mali, West Africa approximately 30km from the Côte d’Ivoire border and 300km southeast of the capital Bamako, comprises the Syama Underground Mine and the Tabakoroni Open Pit Mine.
The Syama Underground Mine is owned by Société des Mines de Syama S.A. (SOMISY). Resolute has a 80% interest in SOMISY and the Government of Mali has a 20% interest in SOMISY. Tabakoroni is owned by Société des Mines de Finkolo SA (SOMIFI) of which Resolute currently owns 100% through its wholly owned subsidiary, Resolute (Finkolo) Pty Ltd. The Government of Mali is entitled to a 10% free carried interest in SOMIFI.
The Syama Complex is a large-scale operation which comprises two separate processing plants: a 2.4Mtpa sulphide processing circuit and a 1.5Mtpa oxide processing circuit. The sulphide circuit comprises three-stage crushing, milling, flotation, roasting, calcine leaching and elution with ore sourced from the Syama Underground Mine and stockpiles. The oxide circuit comprises conventional crushing, SAG milling and leaching, with ore sourced from the Tabakoroni Open Pit Mine.
In December 2018, Resolute commenced sublevel caving at its Syama Underground Mine. The successful commencement of production at the Syama Underground Mine represented a pivotal moment in the long history of Resolute. It is a world class, long life, low cost asset that will deliver long term benefits to our shareholders, stakeholders, and local Mali communities for years to come.
Once fully commissioned, the Syama Underground Mine will be the most sophisticated and advanced gold mine in Africa. Our investment in exploration, infrastructure, technology, power, and innovation at Syama has transformed a world class orebody into a world class mine. In June 2019, having mined and hauled in excess of 80% of nameplate mine capacity, Resolute announced that commercial production rates of ore production had been achieved at the Syama Underground Mine.
The Tabakoroni Open Pit Mine is located 35km south of the Syama processing plant. Mining commenced during the September 2018 Quarter with first ore through the mill in November 2018. Exceptional high-grade intersections from drilling results have confirmed a large increase in the size and grade of Tabakoroni which reinforces the value of our ongoing investment in exploration of our extensive Syama tenure. An underground mining study including technical assessments and metallurgical test work has commenced to support the near-term development of a new underground mine at Tabakoroni.
Resolute is targeting site production of 300,000oz of gold annually at a Life-of-Mine All-In Sustaining Cost of less than US$750/oz from a Mineral Resource base of 8.2Moz of gold.