Monument starts commercial operations at Selinsing gold mine
Monument Mining has announced the start of commercial operations at Selinsing gold mine in Malaysia. This is a significant milestone after achieving 90% capacity for 30 consecutive days, meeting the requirements for commercial production.
The Selinsing gold mine has demonstrated strong operational performance with a mill availability of 94% and a flotation mass pull of 3.4%, which is slightly below the design specification of 3.5%. The company processed approximately 79 tonnes of ore per day in line with its design protocol.
Offtake deals
The company faced challenges related to gold recovery due to the high clay content of freshly mined transition ore and the processing of stockpiled transition ore mixed with oxides. Despite these challenges, daily recoveries exceeded 80%, but the overall gold recovery for the 30-day period was 61.4%.
Monument Mining has established offtake agreements with selected buyers for gold concentrate shipments, totaling 6,550 dry metric tonnes (DMT). The company has secured export permits for these shipments and plans to renew them every six months.
The Selinsing gold mine, located 158km from Kuala Lumpur, covers 150km² of land and includes properties like Buffalo Reef, Famehub, Felda Land, Peranggih, and Selinsing. It operates as an open-pit mine with oxide and sulphide gold deposits. The mine has a processing capacity of 950,000 tonnes per annum, with mineral reserves of approximately 267,000 ounces and mineral resources of around 880,000 ounces. Based on the current resource estimates, the mine is expected to have a lifespan of six years.
