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Submission to the Parliamentary Portfolio Committee on Water and Environmental Affairs Johan du Toit CEO Central Rand Gold 28 June 2011 1.

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Presentation on theme: "Submission to the Parliamentary Portfolio Committee on Water and Environmental Affairs Johan du Toit CEO Central Rand Gold 28 June 2011 1."— Presentation transcript:

1 Submission to the Parliamentary Portfolio Committee on Water and Environmental Affairs Johan du Toit CEO Central Rand Gold 28 June

2 Central Rand Gold Mining and prospecting area 2

3 Central Rand Gold Background Between 1886 to the early 1970s the Central Basin was extensively mined. The Mining Companies that exploited this resource have closed CRG is a small junior mining company formed in 2007 CRG received its first mining right in November 2008 CRGs mining and prospecting rights are all based within the Central Basin Mining right covers 12km strike down to 900mbs Current operations include one decline and limited mine developed which has been stopped at 200mbs CRG has since late 2008 publically supported the development and implementation of a long term sustainable water solution The EMP excludes any past water liability

4 Central Rand Gold Contribution to Water Solution 4 CRG is a active member of CBEC, which has participated in various discussions with Government since 2009 CRG volunteered to provide R35m funding towards this project, based on a resource base at 400mbs To protect the resource base; CRG acquired 2x submersible pumps (R35m) in August The pumps had the longest delivery lead time – 12 months The pumps were specifically engineered for the Central Basin Pumps have a capacity of 72mlpd enabling the de-watering of the Central Basin

5 Central Rand Gold Project economics' >900mbs>250mbsResource base below water table Mining right area (moz) Main Reef Prospecting area (moz) All Reefs Total Significant resource value has been lost since the SWV pumps were stopped in 2008 i.e. 4.67moz. CRG is placing its operations in care and maintenance until clarity is obtained - at what level the water table can be stopped at? Over 200 jobs have been lost at CRG as a result of the uncertainty surrounding the rising water table Mineral resource base


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