The results imply that Bulyanhulu and Buzwagi would be the world’s largest two gold mines by more than 25%

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  • Acacia wishes this were true – but sadly it is not the case that our mines each produce more than 1.5 million ounces of gold per year
  • Last year together they produced 450,000 ounces
  • Acacia’s verified data shows that the 277 containers at Dar Es Salaam port contain 26,000 ounces of gold in total.
  • The Committee’s findings were that the gold content of these containers, which represent just over one month’s production, totalled 7.8 tonnes (or 250,000 ounces).
  • In 2016, Acacia produced and sold 250,000 ounces of gold in concentrate from these two mines in the whole of the year.
  • For scale, Grasberg in Indonesia produces just over 1 million ounces of gold in a year, it is one of the largest mines in the world
  • Grasberg’s open pit is 3.5 km long x 2.5km wide and more than 550 metres deep vs Buzwagi’s pit which is just 1.3km long x 550 metres wide and 240 metres deep
  • Grasberg processes around 60 million tonnes per year compared to Buzwagi which processes 4 million tonnes
  • Grasberg processes in 25 days what Buzwagi processes in 1 year – how could Buzwagi produce more ounces of gold when grades are very similar

ACHA MAONI

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