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Papua New Guinea
Wafi-Golpu Project

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 Location:
62 km SW from Lae, Papua New Guinea

  Project Contacts:
Highlands Highway, Morobe Province
PO Box 4552
Lae
Papua New Guinea
411
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WebsiteWeb
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  • Overview
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Copper
  • Gold
  • Silver
  • Molybdenum
Mining Method
  • Block caving
Mine Life28 years (as of Jan 1, 2020)
Further discussions between Newcrest and its joint venture partner Harmony, and the PNG Government took place during the 2022 regarding the potential terms of a Mining Development Contract, which is required for a Special Mining Lease. A range of fiscal and non-fiscal matters are being considered and the parties continue working to progress negotiations as part of the permitting process for the Wafi-Golpu Project.


Owners

Source: p. 175
CompanyInterestOwnershipInvestor's Info
Newcrest Mining Ltd. 50 % Indirect
Harmony Gold Mining Company Ltd. 50 % Indirect
The Wafi-Golpu JV is owned 50% by the Newcrest Mining and 50% by Wafi Mining Limited, whose ultimate holding company is Harmony Gold Mining Company Limited.

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein


Summary:

Wafi–Golpu is a complex, multiphase mineralised system, comprising:
- Golpu porphyry copper–gold deposit;
- Wafi epithermal gold deposit;
- Nambonga porphyry gold–copper deposit.

The upper portions of the porphyry systems were overprinted by the high-sulphidation epithermal mineralisation at Wafi.

Golpu
The Golpu deposit extends over about 800 m north–south by 500 m west–east, and was drill tested to more than 2,000 m depth.

Porphyry-style veins are preserved within the clay alteration at the top of the Golpu deposit. These veins have had the copper–iron sulphides removed, leaving only a skeleton of quartz. Irregular molybdenite veins are preserved stable remnants of the porphyry mineralising event.

The dominant copper–gold-bearing sulphide species vary laterally and vertically within the deposit from an inner bornite (plus chalcopyrite) core, to chalcopyrite as the dominant copper sulphide, and grading out to a pyrite-only shell on the mineralisation margin.

The proportion, by volume, of disseminated copper–iron sulphides varies from trace to as much as 10%. Pyrite increases from near absent in the core to 10% on the margin in a reverse relationship to chalcopyrite. Disseminated sulphides are typically located at the site of relict iron-bearing phases including primary phenocrystic hornblende and hydrothermal alteration-derived biotite– magnetite.

The Hornblende Porphyry (Livana Porphyr ........


Mining Methods

  • Block caving


Summary:

An evaluation of potential mining methods included consideration of block caving, sub-level caving (SLC), sub-level open stoping (SLOS), and open pit methods. Block caving was selected for the following reasons:
-Orebody geometry and geotechnical conditions;
-High productivity, low operating cost mining method;
-Higher-value material located at depth can be accessed earlier in the mine plan.

The proposed mine plan uses technology conventional to block cave operations, including mine design and equipment. Due to high surface ambient temperatures and humidity, and the depth of the mine, considerable ventilation and cooling capacity will be required to be installed to ensure the health and safety of mine workers.

The proposed mining method is block caving at three distinct elevations:

- The BC44 extraction level is planned at 4400 mRL, to extract a total of approximately 67 Mt of material over a seven-year period at a peak annualised 16.84 Mt/a production rate. During caving operations, ore from the block cave drawpoints will be delivered by diesel load–haul–dump vehicles (LHDs) to either of two underground gyratory crushers then conveyed to the Watut process plant on surface by an inclined conveyor system;
- The BC42 extraction level is planned at 4200 mRL, to extract a total of approximately 93 Mt of material over a nine-year period at a peak annualised 16.84 Mt/a production rate. Materials handling from drawpoint to the Wa ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper kt 1614,520
Gold koz  ......  Subscription required  ......  Subscription required
Gold Equivalent koz  ......  Subscription required
All production numbers are expressed as payable metal.

Operational Metrics:

Metrics
Ore tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at June 30, 2020:

CategoryTonnage CommodityGradeContained Metal
Probable 400 Mt Copper 1.2 % 4.9 Mt
Probable 400 Mt Gold 0.86 g/t 11 M oz
Indicated 690 Mt Copper 1.1 % 7.5 Mt
Indicated 800 Mt Gold 0.84 g/t 21.7 M oz
Indicated 800 Mt Silver 1.67 g/t 43 M oz
Inferred 188 Mt Copper 0.69 % 1.294 Mt
Inferred 225 Mt Gold 0.76 g/t 5.5 M oz
Inferred 177 Mt Silver 1.69 g/t 9.6 M oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs (sold) Copper USD  ......  Subscription required *†
All-in sustaining costs (sold) Gold USD  ......  Subscription required *†
All-in costs Copper USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2020
UG mining costs ($/t milled) USD 4.16 *
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Expansion CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
Source: Subscription required


Proposed Heavy Mobile Equipment as of June 30, 2020:
HME TypeSizeQuantityLeased or
Contractor
Cable bolter ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Quarterly Report 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Press Release 2018
Press Release 2018
Year-end Mineral Reserves 2018
Annual Report 2017
Fact Sheet 2016
Technical Report 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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