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- Kingsrose Mining (KRM) has reported a wall slippage at its Talang Santo gold mine in Indonesia.
- The incident has made the open pit temporarily inaccessible for usual mining activities and may continue to do so for some time.
- Luckily, the event did not cause any injury, loss of life, or property damage.
- Kingsrose’s share price is down 3.13 per cent, with shares currently trading at 3.1 cents apiece.
Kingsrose Mining (KRM) has reported a wall slippage at the Talang Santo open-pit gold mine in Indonesia.
Prior to the event, heavy rainfall damaged the pit, causing Kingsrose to closely monitor the pit’s north wall.
A minor slip alerted personnel to the threat and caused a halt in mining operations. Kingsrose also evacuated workers and equipment from the potential sliding zone.
As a result, the major wall slippage did not cause any injuries, casualties, or property damage.
While the company is still assessing the full impact of the incident, the slip has made the pit temporarily inaccessible for normal mining activities.
As the ground is still unstable, further slippages and other material movements may occur.
The company originally scheduled the completion of the Talang Santo pit for April 2020. For now, production will continue from existing stockpiles through to May 2020.
According to Kingsrose Managing Director, Karen O’Neill, there are only roughly 2,500 ounces of gold left in the mine plan.
“Kingsrose continues to focus on plans to resume underground mining at Talang Santo,” said Ms O’Neill. “The studies on this option are advanced and the company will seek to accelerate them where possible.”
Kingsrose’s share price is down 3.13 per cent, with shares currently trading at 3.1 cents apiece at 11:31 am AEDT.
