CGA Mining Expands Operations at Masbate with Fleet Upgrade

CGA Mining (ASX:CGX) announced that it was expanding its mining fleet in order to service the expansion of its Masbate Gold Project in Philippines.

The gold producer said that it had secured a contract with a subsidiary of Leighton Holdings to increase the production at the mine. So Leighton Contractors Asia had ordered a larger fleet of heavy vehicles.

Two 200 tonne excavators and ten 100 tonne dump trucks will be ordered to raise the production levels by 67.3 % initially. This will allow the operational lifting of 920,000 bank cubic meters a month up from its current 500,000 capacity. Additional seven 100 tonne dump trucks will be ordered after six months. CGA says it is investing US $15 million upsize throughput to 6.5 million tonnes per annum at the Masbate project.

CGA chief executive Michael Carrick said the expansion of the fleet was an important step in profiting from the economies of scale. In a statement he mentioned that the sizing of the fleet is in line with the larger mining areas now available and is a reflection of the maturity and future potential of the operation at Masbate.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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