The new Australian owners of a once-insolvent White River gold mine intend to install the latest and greatest in modern mining systems. Silver Lake Resources plans to spend between $35 million to $45 million (Australian dollars) over the next two years to get the struggling Sugar Zone Mine operating at a productive and profitable level.
In its July 27 quarterly report, the West Perth-headquartered gold company said after closing the deal to acquire the mine and property from Harte Gold in Feb. 18, it initiated a “holistic review” of the operation.
The plan forward is simply to put better systems and practices in place starting in the second half of this year.
Among the upcoming improvements will be replacing an antiquated mining fleet with new teleremote systems, such new front end loaders, which can be operated from the surface. Some of new equipment has already arrived at the site in the form of a Sandvik LHD307 loader, part of the $1.8 million spent at White River in the quarter.