St Barbara to reach 200 000 oz output within five years
ASX-listed gold producer St Barbara has revised upward its gold production outlook to 200 000 oz/y, owing to strong attributable output expected from the New Simberi gold project, in Papua New Guinea.
At an average yearly growth rate of 59%, the company’s output will lift from 48000 oz in the 2027 financial year to at least 191000 oz by the 2030 financial year and further to 200000 oz/y in the 2031 financial year.
The company says it is fully funded to meet the upcoming capital requirements to develop its key projects, including $108-million required for the New Simberi gold project, $6-million for the Touquoy restart project and $201-million for the 15-Mile Processing Hub.
The Touquoy restart project, in Nova Scotia, involves refurbishment of the plant and creating tailings storage capacity within the existing openpit. In turn, the 15-Mile Processing Hub involves consolidation of the Cochrane Hill and Beaver Dam deposits into a central processing facility.
The 15-Mile Processing Hub is planned to act as a long-term, low-capital-cost production centre for St Barbara, leveraging regional operations to reduce the need for multiple tailings facilities.
St Barbara’s future production is underpinned by long mine lives at the New Simberi project (14 years) and the Novia Scotia projects (11 years), in Canada, with New Simberi’s attributable production expected to increase to 100000 oz/y and similar output expected from the 15-Mile Processing Hub.
