Cepa approves project

THE Social and Environmental Impact Statement (Seis) for the Simberi sulphide project has been approved by Conservation and Environmental Protection Authority (Cepa), according to St Barbara.
Managing director and chief executive officer Craig Jetson said the sulphide expansion would extend the operating life of the mine by more than 10 years.
“The company announced a strategic review of the Simberi asset on June 22, 2022,” Jetson said.
“Front end engineering design (Feed) study work for the sulphide project was completed during the fourth quarter of 2022 financial year.
“A number of parties have expressed interest in acquiring the asset and discussions are underway.
“Simberi returns to full production in the 2023 financial year which has resulted in higher production and lower all-in sustaining cost (AISC).
Meanwhile, according to company’s recent quarterly report ended June 30, 2022, the Simberi site saw significant improvements to volumes of ore mined, waste mined, and ore milled as it recovered from the impact of the Coronavirus (Covid-19) outbreak that affected ramp-up rates in the prior quarter.
“Due to border restrictions caused by the Covid-19 pandemic, the first on ground CEO operational review for two years occurred in the third quarter.
“In collaboration with the new general manager on site, a revised mine plan has been developed which delivered more ore to the mill improving production,” Jetson said. “The AISC at Simberi dropped by 41 per cent to US$2,416 (about K8,665) per ounce as the site continues recover from the impact of the Covid-19 outbreak in February this year.”
He said the company announced a strategic review of the Simberi asset on June 22 and Feed study work for the sulphide project was completed during the quarter.
“A number of parties have expressed interest to acquire the asset and discussions with interested parties are underway.”