Roxgold has mobilised its underground mining contractor to its Yaramoko Gold project located in Burkina Faso, West Africa.

According to the company, the previously announced mining services contract signed with the underground mining contractor, which is a subsidiary of African Underground Mining Services (AUMS), has an initial term of four years.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The contract includes the provision of a mining fleet, as well as skilled labour force.

"The alignment of interests between Roxgold and a key contractor bodes well for the smooth operation of the Yaramoko Gold Project."

Earlier AUMS announced that it will make an initial investment of $5m in the company through a non-brokered private placement, in connection with mobilisation.

Roxgold will use the net proceeds to partially fund the development and exploration of its gold project in addition to general corporate purposes.

See Also:

Under the contract, Roxgold will have the option to settle up to $10m in payments in the form of the company common shares.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Roxgold chief operating officer Paul Criddle said: "We are very pleased to welcome AUMSG as a shareholder of Roxgold.

"The alignment of interests between Roxgold and a key contractor bodes well for the smooth operation of the Yaramoko Gold Project, development of which has been progressing very well."

A joint venture between Ausdrill and Barminco, AUMS will assist in the development of the gold project from which production is expected in the second quarter of 2016.