Marvel Loch Gold Mine: Difference between revisions
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{{Short description|Gold mine in Western Australia}} |
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{{Use Australian English|date=March 2017}} |
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{{Use dmy dates|date=March 2017}} |
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{{Infobox gold mine |
{{Infobox gold mine |
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| name = Marvel Loch |
| name = Marvel Loch |
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| Line 4: | Line 7: | ||
| width = |
| width = |
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| caption = |
| caption = |
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| pushpin_map = Australia |
| pushpin_map = Western Australia |
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| pushpin_label =Marvel Loch Gold Mine |
| pushpin_label =Marvel Loch Gold Mine |
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| pushpin_map_caption = Location in Australia |
| pushpin_map_caption = Location in Western Australia |
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| coordinates = {{coord|31|28|S|119|29|E|region:AU-WA|format=dms|display=inline,title}} |
| coordinates = {{coord|31|28|10|S|119|29|49|E|region:AU-WA|format=dms|display=inline,title}} |
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| display = inline,title |
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| place = [[Marvel Loch, Western Australia|Marvel Loch]] |
| place = [[Marvel Loch, Western Australia|Marvel Loch]] |
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| subdivision_type = [[States and territories of Australia|State]] |
| subdivision_type = [[States and territories of Australia|State]] |
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| state/province = [[Western Australia]] |
| state/province = [[Western Australia]] |
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| country = [[Australia]] |
| country = [[Australia]] |
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| owner = Barto Gold Mining (owner){{-}}Minjar Gold (operator) |
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| owner = [[St Barbara Limited]] |
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| official website = |
| official website = {{url|https://www.minjargold.com.au/}} |
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| acquisition year = |
| acquisition year = 2013 |
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| financial year = 2022 |
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| stock_exchange = [[Australian Securities Exchange|ASX]] |
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| amount = ''undisclosed'' |
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| stock_code = [http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=SBM SBM] |
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| |
| opening year = |
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| active years = –2012{{-}}2014–present |
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| amount = 156,105 |
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| opening year = |
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| active years = |
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| closing year = |
| closing year = |
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| module = {{Infobox mapframe |
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|stroke-colour=#C60C30 |
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|stroke-width=3 |
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|marker=industrial |
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|marker-colour=#1F2F57 |
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|zoom=10 |
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}} |
}} |
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}} |
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The '''Marvel Loch Gold Mine''' is a [[Gold mining|gold mine]] located at [[Marvel Loch, Western Australia|Marvel Loch]], {{cvt|30|km}} south of [[Southern Cross, Western Australia]]. |
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It is operated by [[St Barbara Limited]].<ref>[http://www.stbarbara.com.au/our-operations/southern-cross/ St Barbara website - Southern Cross] {{Webarchive|url=https://web.archive.org/web/20130515102707/http://www.stbarbara.com.au/our-operations/southern-cross/ |date=15 May 2013 }} accessed: 3 September 2009</ref> Apart from Marvel Loch, St Barbara also operated the [[Gwalia Gold Mine]] at [[Leonora, Western Australia|Leonora]] and owned the [[Tarmoola Gold Mine]], which was placed in [[care and maintenance]].<ref>[http://www.stbarbara.com.au/our-operations/leonora/ St Barbara website - Leonora] accessed: 3 September 2009</ref><ref>[http://www.stbarbara.com.au/our-operations/operations-overview/ St Barbara website - Operations overview] {{Webarchive|url=https://web.archive.org/web/20180403062600/http://www.stbarbara.com.au/our-operations/operations-overview/ |date=3 April 2018 }} accessed: 3 September 2009</ref> |
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The '''Marvel Loch Gold Mine''' is a [[Gold mining|gold mine]] located at [[Marvel Loch, Western Australia|Marvel Loch]], 30 km south of [[Southern Cross, Western Australia|Southern Cross]], [[Western Australia]]. |
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All three mines were previously owned by the now defunct mining company [[Sons of Gwalia Limited]].<ref>''The Australian Mines Handbook: 2003-2004 Edition'', page 520</ref> Sons of Gwalia went into [[Administration (law)|administration]] on 30 August 2004 and the company's gold mining operations were sold to St Barbara in March 2005 for [[Australian dollar|A$]]38 million, having been valued by the Sons of Gwalia directors at A$120 million. While Marvel Loch was operational before and after the sale, the Gwalia mine was already placed in care and maintenance at the time of the transaction. A fourth mine, the [[Carosue Dam Gold Mine]], ceased operation in June 2005 and was sold by St Barbara.<ref>[http://www.delisted.com.au/Company/7589 Sons of Gwalia Limited at delisted.com.au] accessed: 3 September 2009</ref><ref>[https://web.archive.org/web/20050708235513/http://corporatefile.com.au/documents/OB/MD%20CEO%20on%20Outlook%20%26%20Strategy%2028.06.05.pdf St Barbara Mines Limited - Lodgment of Open Briefing] published: 28 June 2005, accessed: 3 September 2009</ref><ref>[http://www.asx.com.au/asxpdf/20050321/pdf/3q6t94nvdv8h3.pdf ''The West Australian''], published 16 March 2005, accessed: 3 September 2009</ref> |
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It is operated by [[St Barbara Limited]].<ref>[http://www.stbarbara.com.au/our-operations/southern-cross/ St Barbara website - Southern Cross] accessed: 3 September 2009</ref> Apart from Marvel Loch, St Barbara also operates the [[Gwalia Gold Mine]] at [[Leonora, Western Australia|Leonora]] and owns the [[Tarmoola Gold Mine]], which is placed in care and maintenance.<ref>[http://www.stbarbara.com.au/our-operations/leonora/ St Barbara website - Leonora] accessed: 3 September 2009</ref><ref>[http://www.stbarbara.com.au/our-operations/operations-overview/ St Barbara website - Operations overview] accessed: 3 September 2009</ref> |
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The mine is owned by Barto Gold Mining but operated by Minjar Gold. |
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All three mines were previously owned by the now defunct mining company [[Sons of Gwalia Limited]].<ref>''The Australian Mines Handbook: 2003-2004 Edition'', page 520</ref> Sons of Gwalia went into [[Administration (law)|administration]] on 30 August 2004 and the company's gold mining operations were sold to St Barbara in March 2005 for [[Australian dollar|A$]]38 million, having been valued by the Sons of Gwalia directors at A$120 million. While Marvel Loch was operational before and after the sale, the Gwalia mine was already placed in care & maintenance at the time of the transaction. A fourth mine, the [[Carosue Dam Gold Mine]], ceased operation in June 2005 and has since been sold by St Barbara.<ref>[http://www.delisted.com.au/Company/7589 Sons of Gwalia Limited at delisted.com.au] accessed: 3 September 2009</ref><ref>[http://www.corporatefile.com.au/documents/OB/MD%20CEO%20on%20Outlook%20&%20Strategy%2028.06.05.pdf St Barbara Mines Limited - Lodgment of Open Briefing] published: 28 June 2005, accessed: 3 September 2009</ref><ref>[http://www.asx.com.au/asxpdf/20050321/pdf/3q6t94nvdv8h3.pdf ''The West Australian''], published 16 March 2005, accessed: 3 September 2009</ref> |
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==History== |
==History== |
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[[File:Sons of Gwalia.JPG|150px|thumb|left|[[Sons of Gwalia]] logo]] |
[[File:Sons of Gwalia.JPG|150px|thumb|left|[[Sons of Gwalia]] logo]] |
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Mining in the area around Marvel Loch dates back to the early 1900s and between 1905 and 1986, 136,300 |
Mining in the area around Marvel Loch dates back to the early 1900s and between 1905 and 1986, {{convert|136,300|oz|kg|order=flip}} of gold were recorded as having been mined.<ref name=handbook >''The Australian Mines Handbook: 2003-2004 Edition'', page 107</ref> |
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From 1979 to 1987, the mine was operated as a joint venture between Kia Ora Gold Corporation NL and Western United Limited, after which it was sold to Mawson Pacific Limited. Mawson Pacific subsequently sold the mine to Reynolds Australia Gold Operations Ltd, a wholly owned subsidiary of Reynolds US Metals. During its period of ownership Reynolds acquired the Southern Cross Mill and adjacent tenements including the Transvaal Underground Mine and the Cornishman Open Pit (a 50/50 joint venture with Troy Resources NL)located approximately |
From 1979 to 1987, the mine was operated as a joint venture between Kia Ora Gold Corporation NL and Western United Limited, after which it was sold to Mawson Pacific Limited. Mawson Pacific subsequently sold the mine to Reynolds Australia Gold Operations Ltd, a wholly owned subsidiary of Reynolds US Metals. During its period of ownership Reynolds acquired the Southern Cross Mill and adjacent tenements including the Transvaal Underground Mine and the Cornishman Open Pit (a 50/50 joint venture with Troy Resources NL) located approximately {{cvt|25|km}} north of Marvel Loch. On 1 April 2005 the Marvel Loch Mine together with the Southern Cross Mill and adjacent mines was sold to [[Sons of Gwalia]] for $23m. During 1995 and 1996 Sons of Gwalia acquired Orion Gold NL and Gasgoyne Gold Mines NL whom together owned the Yilgarn Star Joint Venture approximately {{cvt|16|km}} south of Marvel Loch. The Yilgarn Star Joint Venture operated the Yilgarn Star Open Pit and Underground mine and mill as well as the Nevoria Gold Mine. |
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Sons of Gwalia mined the Marvel Loch deposit as a [[Open-pit mining|surface mine]] for the most part of the mine's history since reopening in the 1990s, upgrading its production facility in 2001.<ref name="handbook"/> In February 2001, the company announced it consolidated its Southern Cross operations, acquiring the remaining 30% of the [[Yilgarn Star Gold Mine]] it didn't own and merging the operation with Marvel Loch, closing the Yilgarn Star mill. It also acquired other interests in the region in this transaction.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=1167&announcementId=237659 Rationalisation of Southern Cross Region of WA] SGW ASX announcement, published: 7 February 2001, accessed: 8 February 2010</ref><ref name=Quartereight >[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=1167&announcementId=346992 Media Release: Highlights from Quarterly Report 30-6-98] SGW ASX announcement, published: 17 July 1998, accessed: 8 February 2010</ref> Since then, production from Yilgarn has been listed under Marvel Loch.<ref name=Yilgarn >''The Australian Mines Handbook: 2003-2004 Edition'', page 137</ref> |
Sons of Gwalia mined the Marvel Loch deposit as a [[Open-pit mining|surface mine]] for the most part of the mine's history since reopening in the 1990s, upgrading its production facility in 2001.<ref name="handbook"/> In February 2001, the company announced it consolidated its Southern Cross operations, acquiring the remaining 30% of the [[Yilgarn Star Gold Mine]] it didn't own and merging the operation with Marvel Loch, closing the Yilgarn Star mill. It also acquired other interests in the region in this transaction.<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=1167&announcementId=237659 Rationalisation of Southern Cross Region of WA] SGW ASX announcement, published: 7 February 2001, accessed: 8 February 2010</ref><ref name=Quartereight >[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=1167&announcementId=346992 Media Release: Highlights from Quarterly Report 30-6-98] SGW ASX announcement, published: 17 July 1998, accessed: 8 February 2010</ref> Since then, production from Yilgarn has been listed under Marvel Loch.<ref name=Yilgarn >''The Australian Mines Handbook: 2003-2004 Edition'', page 137</ref> |
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After a rapid rise of the company, unauthorised gold and foreign exchange trading activities by chief financial officer Eardley Ross-Adjie in the year to June 2000, ended up costing Sons of Gwalia more than A$190 million.<ref name=sank >[http://www.smh.com.au/news/business/how-sons-of-lalor-built-then-sank-sons-of-gwalia/2005/08/21/1124562748347.html How sons of Lalor built, then sank, Sons of Gwalia] [[The Sydney Morning Herald]], accessed: 4 September 2009</ref> Sons of Gwalia went into administration on 30 August 2004, following a financial collapse, with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.<ref name=Ernst >[http://au.news.yahoo.com/thewest/a/-/breaking/5912273/e-y-agrees-to-125m-sons-of-gwalia-settlement/ Ernst &Young agrees to $125m Sons of Gwalia settlement] [[The West Australian]], published: 4 September 2009, accessed: 4 September 2009</ref> Sons of Gwalia was Australia's third-largest gold producer and also controlled more than half the world's production of tantalum.<ref>[http://www.smh.com.au/articles/2004/09/03/1093939143587.html Sons of Gwalia's gold hedging had big holes] [[The Sydney Morning Herald]], published: 4 September 2004, accessed: 4 September 2009</ref> |
After a rapid rise of the company, unauthorised gold and foreign exchange trading activities by chief financial officer Eardley Ross-Adjie in the year to June 2000, ended up costing Sons of Gwalia more than A$190 million.<ref name=sank >[http://www.smh.com.au/news/business/how-sons-of-lalor-built-then-sank-sons-of-gwalia/2005/08/21/1124562748347.html How sons of Lalor built, then sank, Sons of Gwalia] [[The Sydney Morning Herald]], accessed: 4 September 2009</ref> Sons of Gwalia went into administration on 30 August 2004, following a financial collapse, with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.<ref name=Ernst >[http://au.news.yahoo.com/thewest/a/-/breaking/5912273/e-y-agrees-to-125m-sons-of-gwalia-settlement/ Ernst &Young agrees to $125m Sons of Gwalia settlement] {{Webarchive|url=https://web.archive.org/web/20110205090753/http://au.news.yahoo.com/thewest/a/-/breaking/5912273/e-y-agrees-to-125m-sons-of-gwalia-settlement |date=5 February 2011 }} [[The West Australian]], published: 4 September 2009, accessed: 4 September 2009</ref> Sons of Gwalia was Australia's third-largest gold producer and also controlled more than half the world's production of tantalum.<ref>[http://www.smh.com.au/articles/2004/09/03/1093939143587.html Sons of Gwalia's gold hedging had big holes] [[The Sydney Morning Herald]], published: 4 September 2004, accessed: 4 September 2009</ref> |
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St Barbara purchased the mine from insolvent Sons of Gwalia in March 2005.<ref>[ |
St Barbara purchased the mine from insolvent Sons of Gwalia in March 2005.<ref>[https://web.archive.org/web/20050708235513/http://corporatefile.com.au/documents/OB/MD%20CEO%20on%20Outlook%20%26%20Strategy%2028.06.05.pdf St Barbara Mines Limited - Lodgement of Open Briefing] published: 28 June 2005, accessed: 3 September 2009</ref> |
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Since the purchase of the Mine by St Barbara, mining has been carried out both in surface and [[Underground mining (hard rock)|underground operations]]. In July 2009, St Barbara suspended open pit mining at Marvel Loch and decided that the treatment plant |
Since the purchase of the Mine by St Barbara, mining has been carried out both in surface and [[Underground mining (hard rock)|underground operations]]. In July 2009, St Barbara suspended open pit mining at Marvel Loch and decided that the treatment plant would be operated on a week-on, week-off basis.<ref>[http://metalsplace.com/news/articles/29084/st-barbara-suspends-wa-gold-mine/ St Barbara suspends WA gold mine] Metalsplace.com, published: 10 July 2009, accessed: 3 September 2009</ref> |
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After placing the mine in [[care and maintenance]] in late 2012, St Barbara sold the mine for A$22.5 million in cash to Chinese company Hanking Gold Mining in January 2013.<ref>{{cite news |last= |first= |date=9 January 2013 |title=St Barbara sells Southern Cross mine |url=https://thewest.com.au/news/wa/st-barbara-sells-southern-cross-mine-ng-ya-342855 |work=[[The West Australian]] |location=[[Perth]] |access-date=26 April 2022 }}</ref> Hanking Gold eventually reopened the mine, commencing mining in August 2014 and pouring first gold in early 2015.<ref>{{cite news |last=Bamford |first=Jasmine |date=26 February 2015 |title=Hanking to pour first gold from Marvel Loch |url=https://thewest.com.au/news/wa/hanking-to-pour-first-gold-from-marvel-loch-ng-ya-386195 |work=[[The West Australian]] |location=[[Perth]] |access-date=26 April 2022 }}</ref> |
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Barto Gold Mining and the mine are owned by Shandong Tianye Group Bid Co Pty Ltd, which purchased Hanking Gold Mining for A$330 million in early 2017.<ref>{{cite news |last=Chiat |first=Josh |date=16 February 2017 |title=Southern Cross Gold Operations sold for $330m |url=https://thewest.com.au/business/mining/southern-cross-gold-operations-sold-for-330m-ng-b88388370z |work=[[The West Australian]] |location=[[Perth]] |access-date=26 April 2022 }}</ref><ref name="Annual17" >{{cite web |title=CHINA HANKING HOLDINGS LIMITED Annual Report 2017 |url=https://minedocs.com/17/ChinaHankingHoldings_ar_2017.pdf |website=minedocs.com |publisher=CHINA HANKING HOLDINGS LIMITED |accessdate=26 April 2022}}</ref> The mine is operated by Minjar Gold.<ref>{{cite web |title=Southern Cross Operation |url=https://www.minjargold.com.au/projects/barto-gold-mining/ |website=www.minjargold.com.au |publisher=Minjar Gold |accessdate=26 April 2022}}</ref> |
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==Production== |
==Production== |
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Production of the mine (including Yilgarn Star since June 2001): |
Production of the mine (including Yilgarn Star since June 2001): |
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===Yilgarn Star=== |
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{| class="wikitable" |
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|- style="text-align:center; background:#daa520;" |
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! Quarter |
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! Production |
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! Grade |
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! Cost per ounce |
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|- style="text-align:center;" |
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| 1997-98<ref name="Quartereight"/> |
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| 88,417 ounces |
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| |
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| |
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|- style="text-align:center;" |
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| 2000<ref name="Yilgarn"/> |
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| 103,122 ounces |
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| 4.43 g/t |
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| A$384 |
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|- style="text-align:center;" |
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| 2001 <sup>1</sup> .<ref name="Yilgarn"/> |
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| 23,511 ounces |
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| 3.76 g/t |
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| A$491 |
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|} |
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* <sup>2</sup> January to June 2002 only. |
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===Marvel Loch=== |
===Marvel Loch=== |
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{| class="wikitable" |
{| class="wikitable" |
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|- |
|- style="text-align:center; background:#daa520;" |
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! Quarter |
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| '''Year''' |
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! Production |
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! Grade |
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! Cost per ounce |
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|- |
|- style="text-align:center;" |
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| 1997-98<ref name="Quartereight"/> |
| 1997-98<ref name="Quartereight"/> |
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| 90,008 ounces |
| 90,008 ounces |
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| |
| |
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| |
| |
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|- |
|- style="text-align:center;" |
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| 2000<ref name="handbook"/> |
| 2000<ref name="handbook"/> |
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| 138,491 ounces |
| 138,491 ounces |
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| 2.48 g/t |
| 2.48 g/t |
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| A$416 |
| A$416 |
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|- |
|- style="text-align:center;" |
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| 2001<ref name="handbook"/> |
| 2001<ref name="handbook"/> |
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| 176,026 ounces |
| 176,026 ounces |
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| 2.89 g/t |
| 2.89 g/t |
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| A$419 |
| A$419 |
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|- |
|- style="text-align:center;" |
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| 2002<ref name="handbook"/> |
| 2002<ref name="handbook"/> |
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| 176,756 ounces |
| 176,756 ounces |
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| 2.49 g/t |
| 2.49 g/t |
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| A$480 |
| A$480 |
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|- |
|- style="text-align:center;" |
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| 2002-03<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00386788 Sons of Gwalia annual report 2003] accessed: 12 January 2010</ref> |
| 2002-03<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00386788 Sons of Gwalia annual report 2003] accessed: 12 January 2010</ref> |
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| 217,019 ounces |
| 217,019 ounces |
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| |
| |
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| A$454 |
| A$454 |
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|- |
|- style="text-align:center;" |
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| 2003-04<ref>[http://www.asx.com.au/asxpdf/20040714/pdf/3m4sxwd0q9cyf.pdf Sons of Gwalia fourth quarter report 2004] accessed: 12 January 2010</ref> |
| 2003-04<ref>[http://www.asx.com.au/asxpdf/20040714/pdf/3m4sxwd0q9cyf.pdf Sons of Gwalia fourth quarter report 2004] accessed: 12 January 2010</ref> |
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| 182,891 ounces |
| 182,891 ounces |
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| |
| |
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| A$452 |
| A$452 |
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|- |
|- style="text-align:center;" |
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| 2005<ref>[http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2005_Annual_Report_1-36.pdf 2005 Annual report] accessed: 3 September 2009</ref> <sup>1</sup> |
| 2005<ref>[http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2005_Annual_Report_1-36.pdf 2005 Annual report] {{Webarchive|url=https://web.archive.org/web/20091013141840/http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2005_Annual_Report_1-36.pdf |date=13 October 2009 }} accessed: 3 September 2009</ref> <sup>1</sup> |
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| 53,719 ounces |
| 53,719 ounces |
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| 2.94 g/t |
| 2.94 g/t |
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| A$336 |
| A$336 |
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|- |
|- style="text-align:center;" |
||
| |
| 2005–06<ref>[http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2006_Annual_Report_Review.pdf 2006 Annual report] {{Webarchive|url=https://web.archive.org/web/20091013142644/http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2006_Annual_Report_Review.pdf |date=13 October 2009 }} accessed: 3 September 2009</ref> |
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| 166,000 ounces |
| 166,000 ounces |
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| 2.4 g/t |
| 2.4 g/t |
||
| A$443 |
| A$443 |
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|- |
|- style="text-align:center;" |
||
| |
| 2006–07<ref>[http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/071016_07annualreport_full.pdf 2007 Annual report] {{Webarchive|url=https://web.archive.org/web/20180313203833/http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/071016_07annualreport_full.pdf |date=13 March 2018 }} accessed: 3 September 2009</ref> |
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| 171,182 ounces |
| 171,182 ounces |
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| 2,6 g/t |
| 2,6 g/t |
||
| A$508 |
| A$508 |
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|- |
|- style="text-align:center;" |
||
| |
| 2007–08<ref>[http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2008_Annual_Report.pdf 2008 Annual report] {{Webarchive|url=https://web.archive.org/web/20180313203750/http://www.stbarbara.com.au/fileadmin/user_upload/documents/annual-reports/2008_Annual_Report.pdf |date=13 March 2018 }} accessed: 3 September 2009</ref> |
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| 157,477 ounces |
| 157,477 ounces |
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| 2.5 g/t |
| 2.5 g/t |
||
| A$550 |
| A$550 |
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|- |
|- style="text-align:center;" |
||
| |
| 2008–09<ref>[http://www.stbarbara.com.au/uploads/tx_rlsortthis/090723_ASX_Quarterly_Report_June_2009.pdf June 2009 quarterly report] {{Webarchive|url=https://web.archive.org/web/20160303183758/http://www.stbarbara.com.au/uploads/tx_rlsortthis/090723_ASX_Quarterly_Report_June_2009.pdf |date=3 March 2016 }} accessed: 3 September 2009</ref> |
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| 156,105 ounces |
| 156,105 ounces |
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| 2.5 g/t |
| 2.5 g/t |
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| A$888 |
| A$888 |
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|- |
|- style="text-align:center;" |
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| 2009–10 |
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| |
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| |
| |
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| |
| |
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| |
| |
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|- style="text-align:center;" |
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| 2010–11 |
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| |
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| |
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| |
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|- style="text-align:center;" |
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| 2011–12 |
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| |
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| |
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| |
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|- style="text-align:center;" |
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| 2012–13 |
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| |
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| |
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| |
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|- style="text-align:center;" |
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| 2012–2014 |
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| colspan=3| ''in [[care and maintenance]]'' |
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|- style="text-align:center;" |
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| 2015<ref name="Annual17" /> |
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| 58,887 ounces |
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| |
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| |
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|- style="text-align:center;" |
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| 2016<ref name="Annual17" /> |
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| 121,456 ounces |
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| |
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| |
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|- style="text-align:center;" |
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| January–March 2017<ref name="Annual17" /> |
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| 26,917 ounces |
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| |
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| |
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|- style="text-align:center;" |
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| March–December 2017 |
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|- style="text-align:center;" |
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| 2018 |
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|- style="text-align:center;" |
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| 2019 |
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| |
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|- style="text-align:center;" |
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| 2020 |
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|- style="text-align:center;" |
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| 2021 |
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|- style="text-align:center;" |
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| 2022 |
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* <sup>1</sup> 2005 results for 28 March to 30 June only. |
* <sup>1</sup> 2005 results for 28 March to 30 June only. |
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== |
== References == |
||
{{Reflist|30em}} |
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{| class="wikitable" |
|||
|- align="center" bgcolor="#DAA520" |
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| '''Year''' |
|||
| '''Production''' |
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| '''Grade''' |
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| '''Cost per ounce''' |
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|- align="center" |
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| 1997-98<ref name="Quartereight"/> |
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| 88,417 ounces |
|||
| |
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| |
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|- align="center" |
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| 2000<ref name="Yilgarn"/> |
|||
| 103,122 ounces |
|||
| 4.43 g/t |
|||
| A$384 |
|||
|- align="center" |
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| 2001 <sup>1</sup> .<ref name="Yilgarn"/> |
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| 23,511 ounces |
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| 3.76 g/t |
|||
| A$491 |
|||
|} |
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* <sup>2</sup> January to June 2002 only. |
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== |
===Bibliography=== |
||
* |
* {{Cite book| editor-first=Ross |editor-last=Louthean |title=The Australian Mines Handbook: 2003-2004 Edition | publisher=Louthean Media Pty Ltd| location= }} |
||
* [http://www.dmp.wa.gov.au/documents/000221.jemma.williams.pdf Western Australian Mineral and Petroleum Statistics Digest 2008] Page 34: Principal Mineral and Petroleum Producers - Gold |
|||
== References == |
|||
{{Reflist}} |
|||
== External links == |
== External links == |
||
* {{Official website|https://www.minjargold.com.au/projects/barto-gold-mining/}} |
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* [http://www.ga.gov.au/bin/gazm01?placename=Marvel+Loch&placetype=0&state=0 Place Names Search Results - Marvel Loch] [[Geoscience Australia]] website |
|||
* [https://minedex.dmirs.wa.gov.au/Web/projects/details/00d17898-59e9-47f7-b9ce-1ad0e5ed24d3 MINEDEX website: Marvel Loch - Southern Cross] Database of the [[Department of Mines, Industry Regulation and Safety]] |
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* [http://www.stbarbara.com.au/our-operations/southern-cross/ St Barbara website - Southern Cross operations] |
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* [http://video.mining.com/videos/828c0/blasting_at_marvel_loch_gold_mine,_western_australia.aspx Video: Blasting at Marvel Loch] |
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* [http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX website] |
|||
* [http://www.smh.com.au/news/business/how-sons-of-lalor-built-then-sank-sons-of-gwalia/2005/08/21/1124562748347.html How sons of Lalor built, then sank, Sons of Gwalia] [[The Sydney Morning Herald]] - Article on the collapse of Sons of Gwalia |
* [http://www.smh.com.au/news/business/how-sons-of-lalor-built-then-sank-sons-of-gwalia/2005/08/21/1124562748347.html How sons of Lalor built, then sank, Sons of Gwalia] [[The Sydney Morning Herald]] - Article on the collapse of Sons of Gwalia |
||
* {{Cite web|title = Southern Cross Annual Environmental Report 2010{{en dash}}2011|url = http://www.stbarbara.com.au/fileadmin/templates/pdf/SXO_AER_2010-11_Cover_and_Final_And_Appendices.pdf|accessdate = 24 January 2013}} |
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{{Active Gold Mines in Western Australia}} |
{{Active Gold Mines in Western Australia}} |
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| Line 163: | Line 234: | ||
[[Category:Surface mines in Australia]] |
[[Category:Surface mines in Australia]] |
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[[Category:Underground mines in Australia]] |
[[Category:Underground mines in Australia]] |
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[[Category: |
[[Category:Shire of Yilgarn]] |
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Latest revision as of 20:43, 25 April 2024
| Location | |
|---|---|
  Marvel Loch Gold Mine Location in Western Australia | |
| Location | Marvel Loch |
| State | Western Australia |
| Country | Australia |
| Coordinates | 31°28′10″S 119°29′49″E / 31.46944°S 119.49694°E |
| Production | |
| Production | undisclosed |
| Financial year | 2022 |
| History | |
| Active | –20122014–present |
| Owner | |
| Company | Barto Gold Mining (owner)Minjar Gold (operator) |
| Website | www |
| Year of acquisition | 2013 |
 | |
The Marvel Loch Gold Mine is a gold mine located at Marvel Loch, 30 km (19 mi) south of Southern Cross, Western Australia.
It is operated by St Barbara Limited.[1] Apart from Marvel Loch, St Barbara also operated the Gwalia Gold Mine at Leonora and owned the Tarmoola Gold Mine, which was placed in care and maintenance.[2][3]
All three mines were previously owned by the now defunct mining company Sons of Gwalia Limited.[4] Sons of Gwalia went into administration on 30 August 2004 and the company's gold mining operations were sold to St Barbara in March 2005 for A$38 million, having been valued by the Sons of Gwalia directors at A$120 million. While Marvel Loch was operational before and after the sale, the Gwalia mine was already placed in care and maintenance at the time of the transaction. A fourth mine, the Carosue Dam Gold Mine, ceased operation in June 2005 and was sold by St Barbara.[5][6][7]
The mine is owned by Barto Gold Mining but operated by Minjar Gold.
History
[edit]
Mining in the area around Marvel Loch dates back to the early 1900s and between 1905 and 1986, 3,860 kilograms (136,300 oz) of gold were recorded as having been mined.[8]
From 1979 to 1987, the mine was operated as a joint venture between Kia Ora Gold Corporation NL and Western United Limited, after which it was sold to Mawson Pacific Limited. Mawson Pacific subsequently sold the mine to Reynolds Australia Gold Operations Ltd, a wholly owned subsidiary of Reynolds US Metals. During its period of ownership Reynolds acquired the Southern Cross Mill and adjacent tenements including the Transvaal Underground Mine and the Cornishman Open Pit (a 50/50 joint venture with Troy Resources NL) located approximately 25 km (16 mi) north of Marvel Loch. On 1 April 2005 the Marvel Loch Mine together with the Southern Cross Mill and adjacent mines was sold to Sons of Gwalia for $23m. During 1995 and 1996 Sons of Gwalia acquired Orion Gold NL and Gasgoyne Gold Mines NL whom together owned the Yilgarn Star Joint Venture approximately 16 km (9.9 mi) south of Marvel Loch. The Yilgarn Star Joint Venture operated the Yilgarn Star Open Pit and Underground mine and mill as well as the Nevoria Gold Mine.
Sons of Gwalia mined the Marvel Loch deposit as a surface mine for the most part of the mine's history since reopening in the 1990s, upgrading its production facility in 2001.[8] In February 2001, the company announced it consolidated its Southern Cross operations, acquiring the remaining 30% of the Yilgarn Star Gold Mine it didn't own and merging the operation with Marvel Loch, closing the Yilgarn Star mill. It also acquired other interests in the region in this transaction.[9][10] Since then, production from Yilgarn has been listed under Marvel Loch.[11]
After a rapid rise of the company, unauthorised gold and foreign exchange trading activities by chief financial officer Eardley Ross-Adjie in the year to June 2000, ended up costing Sons of Gwalia more than A$190 million.[12] Sons of Gwalia went into administration on 30 August 2004, following a financial collapse, with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.[13] Sons of Gwalia was Australia's third-largest gold producer and also controlled more than half the world's production of tantalum.[14]
St Barbara purchased the mine from insolvent Sons of Gwalia in March 2005.[15]
Since the purchase of the Mine by St Barbara, mining has been carried out both in surface and underground operations. In July 2009, St Barbara suspended open pit mining at Marvel Loch and decided that the treatment plant would be operated on a week-on, week-off basis.[16]
After placing the mine in care and maintenance in late 2012, St Barbara sold the mine for A$22.5 million in cash to Chinese company Hanking Gold Mining in January 2013.[17] Hanking Gold eventually reopened the mine, commencing mining in August 2014 and pouring first gold in early 2015.[18]
Barto Gold Mining and the mine are owned by Shandong Tianye Group Bid Co Pty Ltd, which purchased Hanking Gold Mining for A$330 million in early 2017.[19][20] The mine is operated by Minjar Gold.[21]
Production
[edit]Production of the mine (including Yilgarn Star since June 2001):
Yilgarn Star
[edit]| Quarter | Production | Grade | Cost per ounce |
|---|---|---|---|
| 1997-98[10] | 88,417 ounces | ||
| 2000[11] | 103,122 ounces | 4.43 g/t | A$384 |
| 2001 1 .[11] | 23,511 ounces | 3.76 g/t | A$491 |
- 2 January to June 2002 only.
Marvel Loch
[edit]| Quarter | Production | Grade | Cost per ounce |
|---|---|---|---|
| 1997-98[10] | 90,008 ounces | ||
| 2000[8] | 138,491 ounces | 2.48 g/t | A$416 |
| 2001[8] | 176,026 ounces | 2.89 g/t | A$419 |
| 2002[8] | 176,756 ounces | 2.49 g/t | A$480 |
| 2002-03[22] | 217,019 ounces | A$454 | |
| 2003-04[23] | 182,891 ounces | A$452 | |
| 2005[24] 1 | 53,719 ounces | 2.94 g/t | A$336 |
| 2005–06[25] | 166,000 ounces | 2.4 g/t | A$443 |
| 2006–07[26] | 171,182 ounces | 2,6 g/t | A$508 |
| 2007–08[27] | 157,477 ounces | 2.5 g/t | A$550 |
| 2008–09[28] | 156,105 ounces | 2.5 g/t | A$888 |
| 2009–10 | |||
| 2010–11 | |||
| 2011–12 | |||
| 2012–13 | |||
| 2012–2014 | in care and maintenance | ||
| 2015[20] | 58,887 ounces | ||
| 2016[20] | 121,456 ounces | ||
| January–March 2017[20] | 26,917 ounces | ||
| March–December 2017 | |||
| 2018 | |||
| 2019 | |||
| 2020 | |||
| 2021 | |||
| 2022 | |||
- 1 2005 results for 28 March to 30 June only.
References
[edit]- ^ St Barbara website - Southern Cross Archived 15 May 2013 at the Wayback Machine accessed: 3 September 2009
- ^ St Barbara website - Leonora accessed: 3 September 2009
- ^ St Barbara website - Operations overview Archived 3 April 2018 at the Wayback Machine accessed: 3 September 2009
- ^ The Australian Mines Handbook: 2003-2004 Edition, page 520
- ^ Sons of Gwalia Limited at delisted.com.au accessed: 3 September 2009
- ^ St Barbara Mines Limited - Lodgment of Open Briefing published: 28 June 2005, accessed: 3 September 2009
- ^ The West Australian, published 16 March 2005, accessed: 3 September 2009
- ^ a b c d e The Australian Mines Handbook: 2003-2004 Edition, page 107
- ^ Rationalisation of Southern Cross Region of WA SGW ASX announcement, published: 7 February 2001, accessed: 8 February 2010
- ^ a b c Media Release: Highlights from Quarterly Report 30-6-98 SGW ASX announcement, published: 17 July 1998, accessed: 8 February 2010
- ^ a b c The Australian Mines Handbook: 2003-2004 Edition, page 137
- ^ How sons of Lalor built, then sank, Sons of Gwalia The Sydney Morning Herald, accessed: 4 September 2009
- ^ Ernst &Young agrees to $125m Sons of Gwalia settlement Archived 5 February 2011 at the Wayback Machine The West Australian, published: 4 September 2009, accessed: 4 September 2009
- ^ Sons of Gwalia's gold hedging had big holes The Sydney Morning Herald, published: 4 September 2004, accessed: 4 September 2009
- ^ St Barbara Mines Limited - Lodgement of Open Briefing published: 28 June 2005, accessed: 3 September 2009
- ^ St Barbara suspends WA gold mine Metalsplace.com, published: 10 July 2009, accessed: 3 September 2009
- ^ "St Barbara sells Southern Cross mine". The West Australian. Perth. 9 January 2013. Retrieved 26 April 2022.
- ^ Bamford, Jasmine (26 February 2015). "Hanking to pour first gold from Marvel Loch". The West Australian. Perth. Retrieved 26 April 2022.
- ^ Chiat, Josh (16 February 2017). "Southern Cross Gold Operations sold for $330m". The West Australian. Perth. Retrieved 26 April 2022.
- ^ a b c d "CHINA HANKING HOLDINGS LIMITED Annual Report 2017" (PDF). minedocs.com. CHINA HANKING HOLDINGS LIMITED. Retrieved 26 April 2022.
- ^ "Southern Cross Operation". www.minjargold.com.au. Minjar Gold. Retrieved 26 April 2022.
- ^ Sons of Gwalia annual report 2003 accessed: 12 January 2010
- ^ Sons of Gwalia fourth quarter report 2004 accessed: 12 January 2010
- ^ 2005 Annual report Archived 13 October 2009 at the Wayback Machine accessed: 3 September 2009
- ^ 2006 Annual report Archived 13 October 2009 at the Wayback Machine accessed: 3 September 2009
- ^ 2007 Annual report Archived 13 March 2018 at the Wayback Machine accessed: 3 September 2009
- ^ 2008 Annual report Archived 13 March 2018 at the Wayback Machine accessed: 3 September 2009
- ^ June 2009 quarterly report Archived 3 March 2016 at the Wayback Machine accessed: 3 September 2009
Bibliography
[edit]- Louthean, Ross (ed.). The Australian Mines Handbook: 2003-2004 Edition. Louthean Media Pty Ltd.
External links
[edit]- Official website
- MINEDEX website: Marvel Loch - Southern Cross Database of the Department of Mines, Industry Regulation and Safety
- How sons of Lalor built, then sank, Sons of Gwalia The Sydney Morning Herald - Article on the collapse of Sons of Gwalia