Press releases

MDM project pipeline shift

MDM awarded Gold One and Gold Fields Synergy scoping study 


26 March 2012

MDM Engineering Group Limited (“MDM” or “the Company”) (AIM: MDM), the minerals process and project management company focused on the mining industry, is pleased to announce that it has been awarded the scoping study for the Gold One International Limited (“Gold One”) and Gold Fields Limited (“Gold Fields”) joint venture project.

Gold One and Gold Fields intend to investigate the economic viability of jointly reclaiming historical tailings deposits and concurrently reprocessing current arisings at a number of sites within the Carletonville, Westonaria and Randfontein areas of the Witwatersrand, west of Johannesburg. Their intent is to extract residual gold, uranium and sulphur, while addressing mine closure in an environmentally sustainable manner and depositing the residues according to acceptable modern deposition practices.

MDM has also recently been appointed by Gold One to undertake the definitive feasibility study review, value engineering and re-estimation of the capital cost for the Cooke Uranium Project.  It has also been appointed to review and update the previous prefeasibility study for the reclamation and reprocessing of the Randfontein tailings deposits and to upgrade the study to a definitive feasibility study.

George Bennett, MDM Executive Director said:
“MDM is thrilled to be working with Gold One on their various projects in South Africa and is pleased to bring the experience gained on the BFS completed for Gold Fields in 2010 to bear on the Synergy Project.  Our recent experience on First Uranium’s Ezulwini and MWS’s Phase 1b and Phase 2 projects has positioned MDM well to manage these studies efficiently.”

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)
George Bennett (Executive Director)
Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300

Canaccord Genuity Limited

John Prior
Sebastian Jones
Tel: +44 (0)20 7523 8350

Tavistock Communications

Paul Youens
Emily Fenton
Tel: +44 (0)20 7920 3150

KEY INFORMATION:
MDM:
MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company’s clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 24 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management “EPCM” or “cost-plus” basis and on an Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

GOLD ONE:
Gold One is a dual listed mid-tier mining group with gold operations and gold and uranium prospects across Southern Africa.  Gold One remains focused on developing and mining low technical risk, high margin precious metal resources in diversified jurisdictions.  The company’s flagship Modder East gold mine, commissioned in 2009, distinguishes itself from most other gold mines in South Africa owing to its shallow nature (300 to 500 metres below surface) and continues to ramp up production, having produced 123,179 ounces in 2011.

At the beginning of 2012, the group expanded further with the acquisition of Rand Uranium (Pty) Limited consisting of the Cooke Underground Operations and the Randfontein Surface Operations located in the West Rand, 30 kilometres from Johannesburg. The Cooke underground operations continue to deliver in line with expectations and are currently the subject of a turnaround intervention. Through Gold One’s purchase of Rand Uranium (Pty) Limited, the group has also acquired one of the world’s most advanced uranium projects, which envisages recovering uranium, gold and sulphur from the Cooke Tailings Dam and underground ores. On 2 March 2012 Gold One also announced that it entered into a binding letter agreement with First Uranium Corporation to acquire 100% of the Ezulwini Mining Company (Pty) Limited, giving the company access to a gold plant with nameplate capacity of up to 200,000tpm and a uranium plant with nameplate capacity of up to 100,000tpm.
The Gold One group is majority-owned by a consortium comprising Baiyin Non-Ferrous Group Co. Limited, the China-Africa Development Fund, and Long March Capital Limited and has an issued share capital of 1,415,302,711 shares.
www.gold1.co.za

 

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