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Aureus Mining to be owner miner at New Liberty; MonuRent to manage fleet

Published: 02:37 17 Apr 2014 EDT

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Aureus Mining (LON:AUE) has appointed MonuRent to run and maintain the mining fleet at its New Liberty mine in Liberia.

The award follows Aureus’s decision to be the owner miner of the new mine, which is under construction and expected to see first gold poured in the first quarter of next year.

Costs for the owner mining scenario are forecast to be lower than contract mining, Aureus said, with final detailed scheduling now underway.

Aureus will be responsible for the open pit mining, geology, survey and planning and will provide the operators and other in-pit personnel to undertake the mining and pumping activities at the gold mine.

MonuRent, which has been operating at  New Liberty for 18 months already supplying vehicles and equipment, will be responsible for the purchase of the new fleet and its maintenance over the life of mine.

David Reading, president and chief executive said: "Utilising the services of MonuRent provides Aureus with a proven, cost effective and de-risked operating model that will allow the company to focus on the mine planning and scheduling, its core strengths and activities.

"MonuRent has been involved in the New Liberty project throughout the construction and development stage, so is therefore well placed to build on the success to date in respect of the operational phase.

"Aureus remains on track for our first gold pour in Q1 2015."

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