The Syama Gold Mine, located in the south of Mali, West Africa approximately 32km from the Côte d’Ivoire border and 300km southeast of the capital Bamako, comprises the Syama Underground Mine and the Tabakoroni complex.
The Syama Underground Mine is owned by Société des Mines de Syama S.A. (SOMISY). Resolute’s asset ownership of Syama is an 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 owns 90% through its wholly owned subsidiary, Resolute (Finkolo) Pty Ltd. The Government of Mali owns a 10% free carried interest in SOMIFI.
Syama 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.
Tabakoroni 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. The culmination of successful exploration and the completion a Pre-Feasibility Study has led to the declaration of a maiden underground Ore Reserve at Tabakoroni of 2.9 million tonnes at 4.6 grams per tonne gold for 430,000oz. Continued exploration success and resource conversion drilling are expected to increase this Ore Reserve during 2021.
Syama sulphide production is forecast to increase by more than 25% to between 155,000oz and 170,000oz with a resulting decrease in AISC to between US$1,200/oz and US$1,275/oz.
Syama oxide production of 80,000oz to 85,000oz is forecast at an AISC between US$1,050/oz and US$1,090/oz from the Cashew and Tabakoroni satellite operations.
Syama Hybrid Power Station
Construction of the new hybrid modular power station at Syama continued during 2020 in partnership with Aggreko. Key project milestones completed in 2020 include all civil works, shipment and installation of generating engines from Europe to CÔte d’Ivoire, completion of fuel treatment and storage at the Syama power plant along with full commissioning of the battery storage system. The heavy fuel oil (HFO) storage facility first fill was delivered in December 2020. The construction activities are nearing completion and the three new generating engines are expected to be commissioned within the first quarter of 2021.
Resolute and Aggreko signed a Power Supply Agreement (PSA) in 2019 for development of the new Syama hybrid modular power station. When fully operational the power station will combine battery, thermal and solar generation technologies into one integrated power dispatchable solution ensuring instant power, improved power quality, spinning reserve
replacement resulting in fuel savings, optimised plant operation, maintenance efficiencies and reduced emissions. The new power plant is funded and operated by Aggreko with limited capital contribution from Resolute.
Cost effective, environmentally friendly, capital efficient power with long-term electricity cost savings of up to 40% is expected while reducing carbon emissions by approximately 20%.