trending Market Intelligence /marketintelligence/en/news-insights/trending/czBwWFOZYHSsoS9P2E0FNw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Taung Gold awards over US$520M construction contract for South African project

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020


Taung Gold awards over US$520M construction contract for South African project

Taung Gold International Ltd. entered into an engineering, procurement and construction contract with Metallurgical Corp. of China Ltd. worth US$521.5 million for Taung's flagship Jeanette gold project in South Africa.

As part of the deal, Metallurgical Corp. of China will help Taung Gold secure equity and debt financing for the contract, according to a Dec. 30, 2019, news release.

The companies agreed to immediately start the final engineering design to facilitate completing the design work for long-lead items and for the early works program.

An August 2019 feasibility study for Jeanette defined a posttax net present value of US$509.9 million, discounted at 5%, with an internal rate of return of 14.1% and an 8.7-year payback period.