Mining Intelligence and News
Papua New Guinea

Simberi Sulphide Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Sulphide Expansion Project is expected to extend Simberi’s life by more than ten years.

The environmental permit for the Simberi Sulphide project was received by the Conservation & Environmental Protection Authority of Papua New Guinea on 1 August 2022.

The strategy focus areas for Simberi comprise:
• Extension drilling of the Sulphides Mineral Resource and Ore Reserve
• Revisiting Sulphides Expansion development plan by FY26
• Prepare for investment decision with Mining Lease renewal by FY28.
Related AssetSimberi Operation

Owners

SourceSource
CompanyInterestOwnership
St Barbara Ltd. 100 % Indirect
Simberi Gold Co, Ltd. (operator) 100 % Direct
The Simberi Gold Project is 100% owned by the Simberi Gold Company Limited, a wholly owned subsidiary of St Barbara Limited.

Deposit type

  • Volcanic hosted

Summary:

The Simberi Gold Project is located on Simberi Island in the Tabar Islands Group situated in the New Ireland Province of Papua New Guinea (PNG), approximately 80 km north-west of Lihir Island. Simberi is the oldest and northernmost island of the Tabar Group. It measures approximately 10 km east-west, 8 km north-south and rises to over 300 m above sea level. The currently known gold prospects (Sorowar, Pigiput, Pigibo, Botlu, Pigicow, Samat, Bekou and Monun Creek) on Simberi Island are located in the eastern half of the island within the central volcanic core. They are contained within a sub-cropping epithermal alteration system and structural corridor extending 4km north-south and 2km east-west. The host rocks for the mineralisation comprise Pliocene altered alkaline lava flows or intrusives (porphyries), volcaniclastics and tuffs.

Of the eight separate deposits, Pigiput in the south is by far the largest gold resource. Monun Creek is located immediately to the north-east of Pigiput, with Sorowar, the second largest resource, further north again. Pigibo, Botlu, Samat and Bekou lie to the west and south of Pigiput, and while relatively small, are relatively higher grade. All deposits lie within 2 to 3km of each other. Sorowar, Pigiput and Botlu are currently being mined via open pit methods.

Fine grained free gold in oxide material is the target of current operations. Within the sulphide zone gold is also fine grained (most grains are under 15 µm in diameter) but is generally within pyrite. Modifications are required to the current processing plant to allow flotation of pyrite and recovery of the gold.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Gold Concentrate kt 1,500
Gold Metal in concentrate koz 160

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2021 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2021 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 5, 2024
....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 5, 2024
....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2023

Aerial view:

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