JOHANNESBURG (miningweekly.com) – Gold and base metals exploration and development company Alecto Minerals has signed an agreement with Chinese mining equipment manufacturer Yantai Xinhai Machinery and South Africa-based turnkey solutions provider PenMin for the proposed construction and financing of mining operations at Alecto’s Matala gold project, in Zambia. This followed the positive outcome of a feasibility study (FS) for the project. PenMin had delivered the FS, which demonstrated positive economics for a 400 000 t/y oxide and transitional openpit operation with a mine life of about four years and eight months, at $1 200/oz of gold, with exploration upside and underground potential.
