The richest gold mine in the whole world may possibly be found in the Jugan Hills of central Bau, Sarawak, if metallurgy tests are correct.
According to tests conducted by Canada-based mining company Olympus Pacific Materials Inc, an estimated 50 million tonnes of gold may be extracted from the area.
This is more than what is produced by the Grasberg gold mine in the Indonesian province of Papua – currently the largest gold mine in the world – which can produce up to 48 million tonnes of gold.
Central Bau is a large and historic goldfield with an established gold resource, which has been mined intermittently and has yielded 71 million tonnes since the mid-19th century.
The Bau Goldfield lies within the Borneo metalliferous belt, which contains several other productive gold mining camps, including Kelian, Mamut (gold and copper) and Mt Muro.
Preliminary results from metallurgy tests conducted by Olympus Pacific indicate that Jugan Hills alone is capable of producing 17 million tonnes of gold.
Olympus Pacific chief executive officer John Seton in a statement said that the test results were most favourable to its Bau gold mine project as the gold deposits found there are of industry standards.
This allows development of the gold mine in Jugan Hills to go as planned, he said.
Olympus Pacific, which controls 83% of the joint-venture company North Borneo Gold Sdn Bhd operating the Bau goldfield project, is expected to increase its stake to 93% over the next two years.
Source – The Sun Daily