DEVELOPMENT OF BUZWAGI MINE IN TANZANIA
The Buzwagi Project is owned by Barrick Gold Corporation and located in the Lake Victoria Goldfields area of Central Tanzania. The reserve has been established as 3.3M oz gold plus 110M lbs copper.
Feasibility Study and permitting were started in early 2006. Project Execution commenced in August 2007 and Start of Operations is scheduled for Q2 2009.
The project has been developed to include a 30Mtpa Open Pit Mine and 4.4 Mtpa Process Plant. Over a 15 year mine life, Buzwagi will produce more than 3M oz gold as dore` and in copper concentrate. Infrastructure associated with the project includes a 107 km power line, plus extensive security, water harvest and site accommodation facilities.
The project is scheduled to be built on budget and on time during a period of extremely market volatility. This paper will discuss initiatives taken to control escalation, maintain schedule, manage logistic challenges, utilize regional contractors where practical to reduce costs, plus ensure security and safety of all workers.