G Mining Ventures (GMIN) has started commercial production at its Tocantinzinho Gold Mine (TZ) in the State of Pará, Brazil.
The mine, which recently secured operational licences from the Pará State Environmental Agency, achieved this status after operating at 76% of its nameplate throughput capacity for 30 consecutive days.
During August 2024, the Tocantinzinho Gold Mine’s mill processed more than 300,000 ore tonnes at an average daily rate of 9,817 tonnes, with an 88% recovery rate.
G Mining reported the first gold pour at the Tocantinzinho project in July 2024.
The company aims to reach full nameplate throughput at the project by Q1 2025, following a gradual ramp-up through the second half of 2024.
With an expected mine life of 10.5 years, the Tocantinzinho project is expected to produce an average of 174,700oz of gold annually, with the first five years projected to yield 196,200oz each year.
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By GlobalData
G Mining president and CEO Louis-Pierre Gignac said: “We have delivered TZ on time and on budget, with an industry-leading safety record.
“This achievement is the culmination of 5.8 million person-hours focused on building, testing and ramping up production at Brazil’s newest major gold mine. With this accomplishment behind us, we remain committed to enhancing plant performance and achieving our production and cost KPIs [key performance indicators].”
Construction of G Mining’s wholly owned Tocantinzinho Gold Project began in September 2022, following a definitive feasibility study in February of the same year.
The study highlighted the project’s potential as a “cornerstone asset” for the company.
