Carosue Dam Gold Mine Explained

Carosue Dam
Pushpin Map:Western Australia
Pushpin Label:Carosue Dam Gold Mine
Pushpin Map Caption:Location in Western Australia
Coordinates:-30.1531°N 122.3521°W
Place:Laverton
Subdivision Type:State
State/Province:Western Australia
Country:Australia
Owner:Northern Star Resources
Acquisition Year:February 2006
Products:Gold
Financial Year:2022–23
Amount:243,246 ounces
Opening Year:2000
Active Years:2000–2005
2010–present
Module:
Stroke-Colour:
  1. C60C30
Stroke-Width:3
Marker:industrial
Marker-Colour:
  1. 1F2F57
Zoom:9

The Carosue Dam Gold Mine is a gold mine located south of Laverton, Western Australia.

Carosue Dam was previously owned by the now defunct mining company Sons of Gwalia Limited.[1] Purchased in 2005, the mine was placed into care and maintenance by new owners St Barbara in June 2005 and sold to Saracen Mineral Holdings in February 2006. Saracen reopened the mine in early 2010. It is now owned and operated by Northern Star Resources after a merger with Saracen in 2021.

History

Located within the South Laverton gold field, situated 120 km north east of Kalgoorlie, the processing plant at Carosue Dam was constructed and commissioned in 2000, then owned by Pacmin Mining. In October 2001, it was acquired by Sons of Gwalia.[2] During its five-year operation until June 2005, the mine produced over 700,000 ounces of gold.[3]

Sons of Gwalia went into administration on 30 August 2004 and the company's gold mining operations were sold to St Barbara Limited in March 2005 for A$38 million, having been valued by the Sons of Gwalia directors at A$120 million. It was one of four gold mines sold to St Barbara in this deal, the other three being the Marvel Loch Gold Mine, the Tarmoola Gold Mine and the Gwalia Gold Mine.[4] [5] [6]

After the collapse of Sons of Gwalia in 2004, the mine continued producing but was placed in care and maintenance by St Barbara three months after its purchase.[7]

In October 2005, St Barbara announced the sale of Carosue Dam to Saracens for A$19.4 million in cash and shares. St Barbara acquired a 20% interest in Saracens through this transaction.[8]

With the purchase of the mine by Saracen, the new owners developed a two-staged plan to reopen the mine in 2010. After a period of open pit mining, lasting for three to five years, the second stage will also include an underground operation.[9]

On 15 June 2009 Saracen announced that the mine would be connected to the Western Power grid through a 90 km power line rather than being supplied by diesel generators on site. This line, scheduled to be completed in late 2010, is estimated to cost between $10 and 15 million but should provide the company with savings in the range of $50 to 100 per ounce of gold produced.[10]

In November 2009, Saracen announced that the $7 million construction project at the mine had been finished and plant commissioning had started. Gold production was scheduled to begin in February 2010,[11] with the first gold pour announced on 29 January 2010.[12]

In October 2020, a merger between Northern Star Resources and Saracen Metal Holdings was proposed and completed in February 2021 when Saracen was de-listed from the Australian Securities Exchange.[13] [14]

As of 2022, the mine operated by Northern Star Resources as an underground and surface operation.[15]

A 5MW solar power station was commissioned in June 2022 to reduce the mine's emissions by over 5600 tonnes per year.[16]

Production

Production of the mine:[17] [18] [19] [7] [20] [21] [22] [15] [23] [24]

YearProductionGradeCost per ounce
2001121, 161 ounces1.76 g/tA$345
200295,144 ounces 1.8 g/tA$388
2002–03139,894 ouncesA$426
2003–04172,388 ouncesA$387
200529,528 ounces 3.28 g/tA$349
2005–09inactive
2009–1025,036 ouncesA$654
2010–11111,163 ouncesA$738
2011–12
2012–13
2013–14
2014–15
2015–16157,191 ounces2.3 g/tA$1,067
2016–17155,970 ounces2.14 g/tA$1,413
2017–18171,301 ounces2.3 g/tA$1,199
2018–19
2019–20203,280 ounces3.2 g/tA$1,263
2020–21232,276 ounces3.1 g/tA$1,311
2021–22237,625 ounces2.1 g/tA$1,785
2022–23243,246 ounces2.2 g/tA$1,885

Notes

References

Bibliography

External links

Notes and References

  1. The Australian Mines Handbook: 2003-2004 Edition, page 520
  2. http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX on the Web
  3. http://www.saracen.com.au/plant_and_infrastructure.html Saracen website - Plant and Infrastructure
  4. http://www.delisted.com.au/Company/7589 Sons of Gwalia Limited at delisted.com.au
  5. http://www.corporatefile.com.au/documents/OB/MD%20CEO%20on%20Outlook%20&%20Strategy%2028.06.05.pdf St Barbara Mines Limited - Lodgment of Open Briefing
  6. http://www.asx.com.au/asxpdf/20050321/pdf/3q6t94nvdv8h3.pdf The West Australian
  7. Web site: St Barbara annual report 2005 . 3 September 2009 . https://web.archive.org/web/20091013141840/http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2005_Annual_Report_1-36.pdf . 13 October 2009 . dead .
  8. http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2006_Annual_Report_Review.pdf St Barbara annual report 2006
  9. http://www.saracen.com.au/operations_stage_2.html Saracens website - Operations - Stage 2
  10. http://www.asx.com.au/asxpdf/20090615/pdf/31j20gr14y13g0.pdf Carosue Dam Operations - Mains power supply
  11. http://www.saracen.com.au/userfiles/news/228/2009-11-30_07-21-05_113009-ASX-Announcement-CarosueDamPlantRefurbComplete.pdf Carosue Dam plant commissioning commenced Gold production expected in February 2010
  12. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01033331 First Gold Pour at the Carosue Dam Operations
  13. News: Haselgrove . Salomae . 6 October 2020 . Super merger: Northern Star and Saracen to join forces . Australian Mining . 5 April 2022 .
  14. News: Kelly . Elise . 12 February 2021 . Northern Star (ASX:NST) completes merger with Saracen (ASX:SAR) . The Market Herald . 5 April 2022 .
  15. Web site: 2021 Annual Report . www.nsrltd.com . Northern Star Resources . 4 April 2022.
  16. News: WA gold mine now renewably powered after rapid solar deployment . Michael . Mazengarb . 27 June 2022 . 4 July 2022 . Renew Economy.
  17. The Australian Mines Handbook: 2003-2004 Edition, page 77
  18. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00386788 Sons of Gwalia annual report 2003
  19. http://www.asx.com.au/asxpdf/20040714/pdf/3m4sxwd0q9cyf.pdf Sons of Gwalia fourth quarter report 2004
  20. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01083003 Quarterly Activities Report June 2010
  21. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01201245 Quarterly Activities Report June 2011
  22. Web site: Carosue Dam Operation . Mining Data Solutions . 5 April 2022.
  23. Web site: 2022 Annual Report . www.nsrltd.com . Northern Star Resources . 1 March 2023.
  24. Web site: 2023 Annual Report . www.nsrltd.com . Northern Star Resources . 25 February 2023.