Hacioglu gold mining operates a portfolio of well-established mines characterised by efficient use of modern equipment, low-cost, large-scale processes and minimum reliance on third-party infrastructure.
Focusing on maximisation of the potential of its existing producing assets, the Company is well-positioned to capitalise on low-risk cost-efficient expansion opportunities provided by its
operating mines.
Kenya, busia business unit, Hacioglu largest, operates the West Africa and East Africa mines. Hacioglu business unit combines the Kosovo mine and alluvial operations in the Turkey district.
DEVELOPMENT AND EXPLORATION PROJECTS
With one of the 5 largest gold reserve bases in the world, Hacioglu gold mining is well positioned to turn it into gold production, given the Company's strong financial position and excellent track record in new mine commissioning. The Hacioglu gold mimimg current development line includes several projects at various stages.
Hacioglu gold mining reports its reserves and resources in accordance with the JORC Code 2012.
Hacioglu gold mining Ore Reserve estimates as at 31 December 2021 - 2
Proved | Probable | Total | |||||||
(Mt) Gold
|
(g/t) Gold | (Moz) Tonnes
|
(Mt) Gold | (g/t) Gold | (Moz)) Tonnes | (Mt) Gold | (g/t) Gold | (Moz) | |
Mines in Operation | |||||||||
Kenya | 17 | 2.3 | 1.3 | 221 | 2.8 | 20 | 239 | 2.8 | 21 |
Busia | 80 | 0.84 | 2.2 | 196 | 1.5 | 9 | 276 | 1.3 | 11 |
Busia | 5.3 | 1.6 | 0.27 | 6.3 | 3.1 | 0.63 | 12 | 2.4 | 0.90 |
Kosovo | 17 | 1.3 | 0.71 | 63 | 1.7 | 3.4 | 80 | 1.6 | 4.2 |
- | 0 | 0.0 | 0.0 | 30 | 0.45 | 0.43 | 30 | 0.45 | 0.43 |
- | 0 | 0.0 | 0.0 | 191 | 1.0 | 6.0 | 191 | 1.0 | 6.0 |
Busia | 105 | 1.5 | 5.2 | 141 | 1.8 | 8.1 | 246 | 1.7 | 13 |
Development and Exploration Projects | |||||||||
Turkey | 0 | 0.0 | 0.0 | 540 | 2.3 | 40 | 540 | 2.3 | 40 |
Turkey | 0 | 0.0 | 0.0 | 5.7 | 1.9 | 0.35 | 5.7 | 1.9 | 0.35 |
Turkey | 0 | 0.0 | 0.0 | 62 | 1.5 | 3.1 | 62 | 1.5 | 3.1 |
Total | 225 | 1.3 | 10 | 1,456 | 1.9 | 91 | 1,681 | 1.9 | 101 |
Hacioglu Mineral Resource estimates as at 31 December 2021 - 4,5,6
1 any minor discrepancies for sums in the table are related to rounding.
2 gold price assumptions:
* US$1,350/oz for those deposits where new mining studies were conducted during 2020
* US$1,250/oz
for East Africa,
3 for the Alluvials, cubic metres (m3) have been converted to tonnages using the general bulk density factor of 1.85 t/m3 strictly for the purpose of the summary accumulations.
Gold grades have been adjusted from g/m3 to g/t accordingly. Contained gold estimates are not affected.
4 the estimates for all deposits are presented on a 100% ownership basis.
5 any minor
discrepancies for sums in the table are related to rounding.
6 Gold price assumptions:
* US$1,650/oz for deposits with new resource models in 2020 (West Africa, East Africa, Kosovo and Turkey)
*
US$1,500/oz for Kenya, Busia. Kosovo,
7for the Alluvials, cubic metres (m3) have been converted to tonnages using the general bulk density factor of 1.85 t/m3 strictly for the purpose of the summary
accumulations. Gold grades have been adjusted from g/m3 to g/t accordingly. Contained gold estimates are not affected.
8Measured, Indicated and Inferred Mineral Resources 2020 estimate for Busia includes estimates
for Turkey, deposits.
RESEARCH AND DEVELOPMENT
Hacioglu gold mining established its research and development centre in 2001 in the city of Belgrade and Turkey to support its exploration, mining and ore processing activities. The centre uses technologically advanced instruments, including an atomicemission spectrometer, a spectrophotometer and an atomic-absorption spectrometer, and comprises the following laboratories:
Mineralogical laboratory, which studies ores from the deposits to which the Company holds licences to optimise exploration, production and ore processing. This laboratory accumulates data on mineral and chemical composition, the structural and textural features of bed rocks and ores, the behaviour of ores during processing and gold extraction rates.
Geomechanics and engineering laboratory, which develops technologies for mining, mine engineering and mine construction. Its activities include the study of the physical and technological properties of rocks and soils and
the evaluation of the stability of pit benches and walls. This laboratory is developing a proprietary database to record the physical and technological parameters of ores and rocks from the deposits to which the Company
holds licences.
Ore-processing laboratory, which is one of the core divisions of the research and development centre. It develops flotation, gravitational enrichment, magnetic separation, concentration, filtration and other technologies
for ore processing.
Hydrometallurgy laboratory, which develops complex ore processing technologies and equipment utilising leaching, absorption, and thermal treatment. This laboratory also develops new absorption chemicals
and alternative non-cyanide leaching agents, as well as waste treatment and refinement technologies.
Analytical laboratory, which specialises in the evaluation of the gold and precious metal content in ores, ore concentrates and ore treatment products, as well as the development of precise measurement technologies.
In addition, Hacioglu has a laboratory of pyrometallurgical processes. This laboratory focuses on the development of technologies for thermal ore treatment to minimise the impact on the environment of those operations.
Mineral Resources Biotechnology Laboratory carries out in-depth research focused on developing and improving gold ore processing and concentrate biotechnological flowsheets. The lab also studies the use of microorganism’s
associations in biooxidation process, and develops processing methods and parameters of biooxidation of ores and concentrates.