Morila Gold Mine
History
The Morila Gold Mine is one the world’s great open pit gold mines, having produced over 7.5Moz of gold since 2000 at grades that were among the highest in the world, earning it the moniker “Morila the Gorilla”.
Firefinch acquired Morila for just US$28.9m in late 2020 with the strategic intent to rapidly increase production; initially targeting 70-90kozpa of gold from a combination of satellite pits, stocks and tailings, and thereafter growing production to 150-200kozpa of gold by mining the Morila Superpit.
Morila’s current Global Resource is 2.43 million ounces of gold (Measured: 1.73Mt at 0.5g/t gold for 0.03Moz, Indicated: 26.7Mt at 1.49g/t gold for 1.28Moz and Inferred: 22.1Mt at 1.58g/t gold for 1.12Moz). However, Morila’s geological limits have not been tested. Exploration is therefore a major focus at the existing deposits and multiple targets on the 685 km of surrounding tenure.
Production
Production figures of the recent past were:
| Year | Production | Grade | Cost per ounce |
| 2003 | 794,000 ounces | 7.56 g/t | US$ 108 |
| 2004 | 510,000 ounces | 4.44 g/t | US$184 |
| 2005 | 655,000 ounces | 5.41 g/t | US$191 |
| 2006 | 517,000 ounces | 3.88 g/t | US$275 |
| 2007 | 450,000 ounces | 3.36 g/t | US$350 |
| 2008 | 425,000 ounces | 3.08 g/t | US$419 |
| 2009 | 342,000 ounces | 2.47 g/t | US$527 |
| 2010 |
References
- ^ Annual Report 2005 Archived 2011-07-19 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
- ^ Annual Report 2006 Archived 2011-07-07 at the Wayback Machine AngloGold Ashanti website, accessed: 11 July 2010
- ^ Annual Report 2009 Archived 2011-09-12 at the Wayback Machine AngloGold Ashanti website, accessed: 27 July 2010