IAMGOLD seeks licence for Molomolo

Minerals, Energy and Water Resources Minister, Ponatshego Kedikilwe, told Parliament last week that activities at Mupane could extend to Molomolo. "Mupane has submitted a mining licence application for Molomolo satellite deposit in an effort to extend mine life," he said. "The application is being evaluated. Mupane has established a steering committee with different stakeholders in preparation for the mine closure anticipated in 2013 when all economic resources will have been exploited, unless more ore reserves are found."

Molomolo is one of two satellite deposits that could slightly extend Mupane's life, albeit at much reduced production levels than the current operation. Mupane produced 57, 000 ounces of gold last year or 12 percent higher than 2009, figures far beyond what Molomolo could reach.