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 Simberi Mine Plan now extends beyond 10 years, with average annual gold production expected to exceed 200kozpa from FY28 to FY34. The All-in Sustaining Cost (AISC) is projected to range between US$1,000/oz and US$1,200/oz during this period. A saleable concentrate flowsheet has been selected, and studies and designs are underway for several upgrades, including a new sizer, camp improvements, a reverse osmosis (RO) plant, and other enhancements. Additionally, the existing circuit will be expanded with a new ball mill, flotation circuit, concentrate shed, and wharf upgrades.

At the completion of the testwork program, the process design criteria will be completed and the Feasibility Study Update will commence. St Barbara will commence the tendering process for the Feasibility Study work in September 2024 with a target completion of the study by the end of FY25.

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

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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
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Aerial view:

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