Gold aaaaaa

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Gold aaaaaa

Post  kosovohp on Thu Dec 02, 2010 9:23 pm

Exploitable deposits of gold are known to exist in Niger in the region between the Niger River and the border with Burkina Faso. On October 5, 2004, President Tandja announced the official opening of the Samira Hill Gold Mine in Tera Department and the first Nigerien gold ingot was presented to him. This marked a historical moment for Niger as the Samira Hill Gold Mine represents the first commercial gold production in the country.

Samira Hill is owned by a company called SML (Societe des Mines du Liptako) which is a joint venture between a Moroccan company, Societe Semafo, and a Canadian company, Etruscan Resources. Both companies own 80% (40% - 40%) of SML and the Government of Niger 20%. The first year's production is predicted to be 135,000 troy ounces (4,200 kg; 9,260 lb avoirdupois) of gold at a cash value of USD 177 per ounce ($5.70/g). The mine reserves for the Samira Hill mine total 10,073,626 tons at an average grade of 2.21 grams per ton from which 618,000 troy ounces (19,200 kg; 42,400 lb) will be recovered over a 6 year mine life. SML believes to have a number of significant gold deposits within what is now recognized as the gold belt known as the "Samira Horizon", which is located between Gotheye and Ouallam.[11]

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