Suriname Nassau Project

Boddington Corp is London’s and Singapore’s only Main gold company and has established itself in the global gold mining industry. Primary concessions are in worldwide and collectively hold 5.5 million ounces of gold resources; only Newmont is forecasting company-wide attributable gold production of 4.7 million to 5.0 million oz for 2016. Future expansion will be achieved through further acquisitions and organic growth. Primary concessions operation are in Republic of Suriname, in The Merian Gold project that is operated by Surgold, which is a limited liability company fully owned by Newmont. Development of the Merian project represents entry into a new geographic region for Boddington Gold. Boddington Corp., is the principal investor of Newmont NEM; Newmont Mining Corp. is shareholder of The Merian Gold project, a joint venture between Newmont (75%), the Suriname’s government that is owner the national mining Twee NV (25%).

Welcome to the Merian Project, Suriname

The Merian open-pit gold mine in northeast Suriname, with production planned to average 300,000 to 400,000 oz/y of gold over a project life of 11 years. During the first five years of operation, higher-grade ore will lift production to an average of 400,000 to 500,000 oz/y of gold. Pending receipt of the required «Right of Exploitation» from the government of Suriname, Merian production is scheduled to begin in late 2016.

The project is located within the Guiana Shield of northeast South America, near the Suriname-French Guiana border and 66 km south of the town of Moengo and 30 Km north of the Nassau Mountains.

Total capital investment to develop the Merian project is estimated at $900 million to $1 billion. The government of Suriname has the option to earn a 25% fully funded equity ownership stake, including all project capital and operating expenses and an initial earn-in contribution. Boddington through of Newmont expects to fund its share of development through available cash balances and projected cash flows. Initial development will include upgrading of roads and preparation of the camp, mine and mill sites. The project is expected to employ 2,500 people during development and 1,300 operation. Merian has 4.2 million oz of gold in reserves at an average grade of 1.22 g/mt. Newmont’s «Mineral Agreement» with the government Suriname includes an area of interest of 500,000 ha that offers promising exploration upside.

Project development will include three open pits, a processing plant, and the associated infrastructure, including waste rock disposal areas, a tailings storage facility, and a worker accommodation camp. The processing rate is planned at 12 million mt/y during the first five years of operation. Total material moved over that period will average 50 million mt/y.

During the project, we have established community agreements and are working with experts to minimize our impact on the environment-getting it right from the beginning is critical.