Overview
Stage | Production |
Mine Type | Underground |
Commodities |
|
Mining Method |
- Stoping under rockfill (SURF)
- Longitudinal open stoping
- Longhole open stoping
- Transverse open stoping
- Longitudinal retreat
- Paste backfill
|
Production Start | ...  |
Mine Life | 2037 |
Source:
p. 101
Company | Interest | Ownership |
Government of Mali
|
20 %
|
Indirect
|
Barrick Gold Corp.
|
80 %
|
Indirect
|
Societe des Mines de Loulo SA
|
100 %
|
Direct
|
Société des Mines de Loulo SA (Loulo) owns the Loulo gold mine and Société des Mines de Gounkoto (Gounkoto) owns the Gounkoto gold mine. Both Loulo and Gounkoto are owned by Barrick (80%) and the State of Mali (20%).
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Mesothermal
- Vein / narrow vein
Summary:
The Loulo and Gounkoto deposits can be classified as typical shear hosted Birimian style mesothermal gold deposits.
The Loulo project area is characterised by a sequence of sandstone, limestones and greywackes which are truncated by three major north to NE trending shear zones. Two major mineralised bodies have been discovered within the Project area, Gara and Yalea. Several other satellite deposits (Baboto, Gara West and Loulo 3) are also present.
Yalea is located in a north-south striking, steeply dipping package of metasedimentary rocks. Host lithologies at Yalea (from west to east) comprise of quartzite/grey in the hanging wall, with tectonic breccias in the north. Immediately above the main body of mineralisation is thin (0 m to 5 m) sequence of banded schistose greyish limestone, with alternating white and grey calcitic layers and dark grey to black phyllite units. The main mineralised body is a hydrothermally brecciated argillaceous pink quartzite that becomes more argillaceous (and less altered) towards the footwall. A higher grade ‘Purple Patch’ zone is observed in a dilatational strain transfer zone formed as the dip of the mineralised package steepens forming hydraulic breccias. The footwall package is a thick sequence of argillaceous quartzite and black sandstone. This sedimentary package is intruded locally by thin (0.1 m to 2 m) acid intrusives of mostly granitic composition.
At Yalea, the main mineralised body is a hosted by ........

Mining Methods
- Stoping under rockfill (SURF)
- Longitudinal open stoping
- Longhole open stoping
- Transverse open stoping
- Longitudinal retreat
- Paste backfill
Summary:
The Yalea, Gara and Gounkoto underground mines are all currently in operation and are accessed via portals located in the open pits and a box cut.
Development of Gounkoto underground commenced in 2020 with the aim of mining the crown pillar under the North Pit during the second quarter of 2023. It adds high-grade ounces to Loulo-Gounkoto from 2023. The mining method for Gounkoto underground consists of long-hole bench stoping with backfill.
The declines were originally developed as twin declines. One decline containing a conveyor and the second decline is used for mobile equipment access. The lower part of the mines has been developed as single declines with truck haulage up to crushers which feed ore and waste onto the conveyors.
Three mining methods are used at the Yalea and Gara underground mines. They are long hole transverse open stoping; long hole longitudinal retreat open stoping; and stoping under rock fill (SURF). SURF mining is planned to be introduced in the weathered areas of Yalea South Upper.
The SURF method is planned for the portion of Yalea South Upper that has weathered transition or saprolite present in the mineralised zone, or the immediate hanging wall. The method will be used is expected to provide a more consistent production in the less competent ground.
From an operational perspective SURF is very similar to longitudinal sub level caving (SLC). The exception is that in SURF waste rock is tipp ........

Flow Sheet:
Run of Mine ore from the shafts and Gounkoto operations are blended using detailed source analyses to provide a blend of ore to the plant for treatment, meeting the plant operating specifications. The ore is crushed in three stages of crushing to provide a suitable product for feed to the primary mill. Soft ore is fed to the mineral sizer, followed by ball milling. The mill products are classified using hydrocyclones, returning the course material underflow to the grinding circuit. The cyclone overflow is thickened to a suitable underflow density and pumped to the CIL plant.
• Crushing – three stage crushing for the hard rock sulphide ores and a single stage roll toothed crusher for the soft weathered oxide ores.
• Milling – one primary mill (7 MW); two identical single stage ball mills (4.5 MW), one scat conveyor system is inserted to return all mills scats back to primary mill via a cone crusher.
Crushing – Hard Ore
Hard rock is delivered to the tipping bin. Tipping can be completed from two directions.
The hard rock crusher plant consists of a primary gyrator crusher (FFE Minerals 1,300 mm by 1,750 mm) driven by a 450 kW electric motor. A tramp iron magnet is installed over the product conveyor to remove steel. A metal detector trips the conveyor if metal is detected.
The primary crusher operated at a rate of 700 tph, feeds the secondary crushers which operate in open circuit and then the tertiary crushers which operate in closed circuit. An additional metal detector is installed on the feed to the tertiary crushers
The secondary circuit consists of two Sandvik CS6800 Hydrocone crushers and the tertiary circuit consists of four H6800 Hydrocone crushing units, all are powered by a 315 kW electric motor. The secondary and tertiary crushers are housed in separate buildings connected via transfer conveyors.
The final product from the tertiary crushers discharges onto a reclaim ore stockpile, via a conveyor system, and has a live capacity of about 40,000 t and a total of approximately 115,000 t. This is the feed to the SAG mill.
Crushing - Soft Ore
A separate facility exists to crush the soft ore when it is available. The soft ore crushing consists of a tooth roll crusher (MMD 625 - 3 tooth) driven by a 250 kW electric motor. This feeds a separate stockpile area and the roll crusher product is fed directly onto the ball mill conveyor feed.
Grinding and Classification
The milling section produces a leach feed with approximately 75% passing 75 microns. The milling circuit comprises of a SAG mill operating as the primary mill (6.1 m dia. and 9.5 m EGL and installed motor power of 7,000 kW to be upgraded to 8,000 kW) operating in open circuit. The oversize or scats are re-handled to the stockpile and re-crushed. The primary mill discharge feeds two parallel single stage overflow type ball mills (5.5 m dia. by 8.0 m EGL) with a power rating of 4,500 kW each, operating in closed circuit with a dedicated cluster of twelve 250 mm hydrocyclones of which eight are typically in use.
An additional High Pressure Grinding Roll (HPGR) has been installed to treat scats at a rate of 100 t/h.
Flow Sheet:
Summary:

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Production:
Commodity | Units | 2018 | 2017 | 2016 | 2015 |
Gold
|
oz
| 389,279 | 437,255 | 419,801 | 350,604 |
All production numbers are expressed as metal in doré.
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Operational Metrics:
Metrics | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
Ore tonnes mined
| ......  | ......  | 2,854 kt | 2,997 kt | 2,684 kt | 2,652 kt |
Total tonnes mined
| ......  | ......  | | 3,517 kt | 2,715 kt | 2,682 kt |
Tonnes processed
| ......  | ......  | | 2,767 kt | 2,576 kt | 2,587 kt |
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Reserves at December 31, 2021:
Category | OreType | Tonnage | Commodity | Grade | Contained Metal |
Proven
|
In-Situ (UG)
|
10.5 Mt
|
Gold
|
4.45 g/t
|
1.5 M oz
|
Probable
|
In-Situ (UG)
|
26 Mt
|
Gold
|
5.03 g/t
|
4.3 M oz
|
Proven & Probable
|
In-Situ (UG)
|
36 Mt
|
Gold
|
4.86 g/t
|
5.8 M oz
|
Measured
|
In-Situ (UG)
|
20 Mt
|
Gold
|
4.57 g/t
|
2.9 M oz
|
Indicated
|
In-Situ (UG)
|
38 Mt
|
Gold
|
4.94 g/t
|
6 M oz
|
Inferred
|
In-Situ (UG)
|
10.4 Mt
|
Gold
|
3.1 g/t
|
1 M oz
|
Commodity Production Costs:
| Commodity | Units | 2018 | 2017 | 2016 | 2015 |
Cash costs
|
Gold
|
USD
|
|
460 / oz
|
477 / oz
|
670 / oz
|
Total cash costs (sold)
|
Gold
|
USD
|
626 / oz
|
535 / oz
|
551 / oz
|
739 / oz
|
Financials:
| Units | 2018 | 2017 | 2016 |
Capital expenditures
|
M USD
|
88.4
|
104.7
|
144.4
|
Revenue
|
M USD
|
498.9
|
544.9
|
524.4
|
Operating Income
|
M USD
|
106.4
|
177.4
|
|
Pre-tax Income
|
M USD
|
|
171.1
|
153.4
|
After-tax Income
|
M USD
|
|
119.7
|
107.3
|
Corporate Filings & Presentations:
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