Bezant Resources has started commercial copper-gold concentrate production at its Hope & Gorob mine in Namibia, with more than 40,000 tonnes of run-of-mine ore already extracted as the operation moves from construction into production.
The company is targeting a minimum plant throughput of 9,000 tonnes during October, while its first saleable concentrate is expected to be available for offtake later this month.
Run-of-mine ore from Hope & Gorob is now being processed through the Tsoaxaub Metals flotation plant, where commissioning will continue over the coming weeks as production is progressively increased towards nameplate capacity by the end of the year.
Bezant said the plant is operating as required and has so far experienced no major mechanical problems.
The start of commercial concentrate production follows a rapid development programme in which Bezant says site establishment, mine construction and plant development were completed within 21 weeks of groundbreaking.
The company said construction was completed ahead of schedule and within its internal budgets.
More than 40,000 tonnes of run-of-mine ore have been mined since mid-August, of which about 10,000 tonnes are stockpiled at the processing plant.
Bezant said initial indications show copper grades in the mined material comparing favourably with the project’s resource estimates and the Hope open-pit block model.
Gold grades in the run-of-mine ore are currently exceeding forecasts, although the company has not disclosed the actual grades recorded or plant recoveries.
Executive chairman Colin Bird said the immediate focus is on establishing sustainable production while increasing mining and processing capacity.
“The commencement of commercial production at Hope & Gorob is significant milestone for Bezant and a very encouraging start. We will continue to increase mining and processing capacity within our plan to produce concentrate for sale as quickly as possible. Our immediate focus remains firmly on the achievement of sustainable production which we look forward to reporting to shareholders in due course,” Bird said.
The company expects its first saleable concentrate to be available for offtake in late October.
Bezant said in its interim results released on 30 September that concentrate was expected to be transported to Walvis Bay towards the end of October, with the first shipment anticipated in early November, subject to commissioning and logistical arrangements.
Bezant is already planning an expansion of Hope & Gorob even as the existing operation ramps up.
Phase II is focused on adding a tandem processing plant capable of increasing throughput by up to 40% using run-of-mine ore from the existing Hope & Gorob resource.
An engineering assessment for the proposed expansion has been completed, but Bezant has not disclosed the capital cost, funding requirements or timetable for implementing Phase II.
The company is also considering a potentially larger Phase III development, although this remains dependent on further drilling and expansion of the project’s resource base.
Step-out and expansion drilling is planned once Hope & Gorob achieves stable production and cash flow.
The programme will target an initial 500,000 tonnes of contained copper, which Bezant regards as the anticipated minimum threshold for considering a Phase III development.
The company said a possible Phase III plant would have capacity of 25,000 tonnes per year, but its announcement does not clearly define what that capacity figure represents. The proposed development remains at an early planning stage.
“We have also started the process of scaling Hope & Gorob with recent completion of the engineering assessment for the Phase II expansion and we will shortly start the process of resource drilling to hit our targeted contained copper resource ahead of scoping for a possible Phase III expansion programme,” Bird said.
The start of concentrate production changes the immediate focus at Hope & Gorob from mine construction to operating performance.
Bezant must now demonstrate that the plant can consistently process ore at its targeted rates while producing saleable concentrate.
The October target of at least 9,000 tonnes refers to plant throughput rather than concentrate production.
Although commercial concentrate production has started, Bezant has not announced a first concentrate sale or disclosed revenue generated from Hope & Gorob.
The next milestones will be achieving the October processing target, making saleable concentrate available for offtake later this month and, subject to logistics, completing the first shipment in early November.
