Explorator Limitada, a subsidiary of the Xtract Resources group, has hired Omnia Mining and the Moz Gold Group to mine alluvial gold deposits in the mining concession it owns in Manica, in central Mozambique, the group announced in a statement in London.
The group said in a statement that the two contractors had “experience” in the exploration of alluvial deposits and were already operating in the Manica area.
The contract signed with the two companies establishes annual processing of a minimum of 2.64 million tonnes of alluvial material.
Based on a price of US$1250 per ounce of gold, starting in November the group expects monthly revenue of US$165,000. (source: Macauhub)