Annual Report and Accounts 2013
Petra Diamonds Limited 39
Overview
Performance Review
Strategic Review
Sustainability
Corporate Governance
Group Accounts
C-Cut Phase 1 is on track, with the development of the declines, access
tunnels and shaft deepening all progressing in line with expectations.
Tunnel development activity ramped up significantly for the Year, yielding
a total of 4,147 metres for FY 2013 (FY 2012: 771 metres), while raiseboring,
which commenced during the Year, delivered 626 metres (FY 2012: nil).
During FY 2013, a number of refinements were approved to allow for increased
flexibility in delivery of Cullinan’s expansion project and to equip the mine’s
infrastructure to handle tonnages from across the whole footprint of the
orebody (16 hectares versus the 5 hectare block which will be accessed for
C-Cut Phase 1), should there be a future decision to ramp up the operation
above the current planned 4 Mtpa rate.
These refinements followed progress with detailed planning, design
and costing work, which resulted in additional capital requirements
to cater for enhanced engineering requirements, specifically:
$
the upgrading of support specifications to cater for the anticipated
longer life of the block cave;
$
the inclusion of a permanent batching plant to deliver concrete to shaft
and production infrastructure, freeing up shaft time and reducing
potential production disruptions; and
$
the optimisation of the 880 mL ore-handling systems (including
crushers, conveyors and the shaft barrel from 581 mL to 930 mL),
allowing for potential future production ramp-ups utilising the entire
C-Cut footprint.
Capex
Capex of US$89.0 million for the Year (FY 2012: US$54.4 million) was in line
with the progression of Cullinan’s development programme. The majority
of the capital was spent on underground development and infrastructure,
the commencement of the shaft deepening project and the continued
construction of the tailings treatment facility. Sustaining Capex included
new trackless equipment purchased in relation to the BA5 project to open
up access to ore on the 645 mL.
Tailings retreatment underway at Cullinan.
Petra maintains large conservation areas
adjacent to some of its operations, such as
the game farm outside Cullinan, which provide
protected habitats for local vegetation
and wildlife.
Conserving protected habitats
1...,31,32,33,34,35,36,37,38,39,40 42,43,44,45,46,47,48,49,50,51,...142