Shaft Sinkers Holdings started work on an underground mine for the Kibali gold project functioned by Randgold Resources Ltd. (RRS) in Congo.
The South African developer of shafts for below ground mines started work on a 760-meter (2500-foot) upright shaft, it said in a declaration today. It won the contract, with a value of about $132 million, last year and hunts for to entire it in November 2017.
Kibali, which begun production in September, will be one of the biggest gold mines in Africa when it comes to its annual output goal of 600,000 ounces after the below ground mine is accomplished, Randgold’s head boss agent Mark Bristow said in the declaration. Randgold and AngloGold Ashanti Ltd. (ANG) each own 45 per hundred of the mine.
Shaft Sinkers built its enterprise in South Africa, where some of the world’s deepest excavation shafts are established. It sees growing demand out-of-doors its home market for evolving upright shafts to supplement living open-pit procedures, Chief Executive agent Alon Davidov said in the declaration.
The business in August was entitled as the preferred bidder for a $75 million agreement to construct a shaft for Kazchrome JSC in Kazakhstan.