Sadiola Gold Mine


The Sadiola Gold Mine is an open-pit gold mine situated near Sadiola, in the Kayes Region of Mali. The operation is jointly owned by AngloGold Ashanti and Iamgold, who each have an effective holding of 41%, while the Government of Mali owns the remaining 18%. The International Finance Corporation originally held 6% of the mine put sold this share equally to Anglo and Iamgold in December 2009.
Apart from Sadiola and the nearby Yatela Mine, AngloGold Ashanti's also operates the Morila Gold Mine in Mali. The production of its mines in Mali contributed 8 percent to the company's overall production in 2008.

History

Mining in this region of Mali, according to old workings, dates back at least 1,000 years and written records confirm that small scale mining was carried out there for most of the past 300 years. From 1987 onward, the Government of Mali carried out exploration activities in the area, funded by the European Development Fund.
Non-government mining exploration in the area began in 1990, by a predecessor company of Iamgold, and, in 1992, Anglo American entered into a joint venture with Iamgold to develop the project. Anglo American eventually transferred its rights to AngloGold, which, in 2004, became AngloGold Ashanti. Development of the mine begun in 1994 and it opened in 1996. While the mine is owned jointly by AngloGold Ashanti, Iamgold and the Government of Mali, AngloGold Ashanti is the operator of the mine.
In 2009, the mine employed just over 1,500 people. The development of the mine is however not universally seen as positive, with local farmers complaining that they have not been adequately compensated for loss of land or loss of cattle poisoned from a cyanide spill. But the mine however does supply clean drinking water for all the animals in the area that gets pumped out from boreholes within the mine. As well as electricity free of charge to the local village.
Further exploration drilling has taken place in the area surrounding Sadiola, new pits are in the development stages. Which should be starting later this year With gold being found in the first few meters of the pit.

Production

Production figures of the recent past were:
YearProductionGradeCost per ounce
2003452,000 ounces2.77 g/tUS$ 210
2004459,000 ounces2.77 g/tUS$242
2005442,000 ounces2.73 g/tUS$265
2006500,000 ounces3.22 g/tUS$270
2007369,000 ounces2.76 g/tUS$414
2008453,000 ounces3.42 g/tUS$399
2009354,000 ounces2.52 g/tUS$488
2010