4th Mar 2009 09:00
|
Immediate Release |
4 March 2009 |
Central Rand Gold Limited ('CRG' or 'the Company')
(Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108)
(Incorporated as an external company with limited liability under the laws of South Africa, registration number 2007/0192231/10)
ISIN: GG00B24HM601
Share code on LSE: CRND
Share code on JSE: CRD
COMMENCEMENT OF DECLINE DEVELOPMENT
Central Rand Gold Limited ("CRG" or "the Company") is pleased to announce the completion of the portal excavation and commencement of the decline development on its Slot 8 decline on CMR in Johannesburg, South Africa.
The 6 metre x 5 metre decline dipping at 8º has been designed to access ore on the Main Reef sequence and has been positioned in the footwall of the Main Reef. The decline continuation from the portal face is in line with target timelines. Importantly, CRG will continue mining surface material while the decline is being developed.
The Company has contracted the expertise of a consortium of well established mining contracting companies ("the consortium") to perform the construction of the decline and breakaways from the portal high wall to the intersection of reef at levels 1 and 2 underground.
The consortium is referred to as the Mathomo Mining Consortium ("Mathomo") (after the North Sotho name meaning "beginning" or "innovation"), and comprises Group T, Paradigm Project Management (PPM), and Grinaker LTA Mining (a business unit of Aveng (Africa) Ltd). Mathomo is focussed on providing CRG with a holistic integrated project delivery solution.
Group T has been contracted to CRG since project inception to perform the Company's shaft re-accessing programme, and has an excellent safety record for the work done to date, contributing to CRG's achievement of over 1 million injury free man hours . Group T will continue this work with the Company, providing the consortium with its resources and its considerable knowledge and experience for the work to be performed at slot 8.
The companies in the consortium have extensive experience in managing large scale projects in the mining industry, particularly in decline development and mining (surface and underground). Projects undertaken by these companies include mine and decline development work for companies such as:
|
Company |
Mine |
Work Performed |
|
Great Basin Gold |
Burnstone |
Sinking of main production shaft |
|
Aflease Gold |
Modder East |
Sinking of main ventilation/service shaft |
|
Anglo Coal |
Zondagfontein |
Main shaft, ventilation shaft, decline shaft |
|
Rio Tinto |
Palabora Mining Company |
Sinking of Western Extention main decline |
|
De Beers |
Finsch, Cullinan and Kimberley |
Block development |
Mathomo is fully aligned with and supportive of the CRG philosophy of "a company with a new approach to mining and people in South Africa". In this regard Mathomo supports CRG's safety, environmental, and social responsibility initiatives.
Issued on behalf of: Central Rand Gold Limited
Date: 4 March 2009
For further information please contact:
Johan Du Toit
Wayne Epstein
(011) 551 4000
Enquiries:
Buchanan Communications Limited
Bobby Morse / Ben Willey
+44 (0) 20 7466 5000
Evolution Securities Limited
Simon Edwards / Chris Sim / Neil Elliot
+44 (0) 20 7071 4300
Jenni Newman Public Relations (Pty) Ltd
Jenni Newman / Megann Outram
+27 (0) 11 772 1033
Macquarie First South Advisers (Pty) Ltd
Thato Morojele / Annerie Britz/ Melanie de Nysschen
+27 (0) 11 583 2307
Related Shares:
Central Rand Gold