Gem Diamonds announces extended life-of-mine plan, revolving credit facilities
London-listed Gem Diamonds has announced a revised life-of-mine plan for its Letšeng mine, in Lesotho, as well as a two-year extension to the group’s revolving credit facilities.
The revised plan includes approval of steeper slope design for the final openpit cutback of the satellite pit.
High-wall structural and lateral support designs have been completed.
There is significant reduction of Satellite Cut 6 West (SC6W) ore to waste stripping ratio from 1:6.9 to 1:2.1 (87.9-million tonnes to 21.5-million tonnes).
There is also significant reduction in future waste-stripping costs of about $180-million.
SC6W ore has reduced from 12.8-million tonnes to 10.4-million tonnes.
SC6W has been under review since mid-2023 with the objective to safely and responsibly reducing the required waste stripping under the existing pit slope design.
The revised pit slope design incorporates steeper slopes in the competent basalt hard-rock (waste) sectors of the satellite pit.
Geotechnical experts completed a steeper overall pit and inter-ramp slope stability analysis, which was used to design necessary lateral support and potential rockfall mitigation measures.
These measures are expected to ensure the safe and responsible mining of steeper slopes in the competent basalt hard-rock sectors of the satellite pit.
The group’s revolving credit facilities of $71.7-million, due to expire on December 21, have meanwhile been extended for two years to December 21, 2026.
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