22 January 2018
   
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
Mugabe exploited my illiteracy: Mujuru
Engineers group to expose fake degrees
Grandpa, 83, says minor pestered him for sex
Poet poses as Zimra officer, blows $35k
Choked as 2kg's of cocaine tested in court
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Anger as Dembare approach City player
Cricket: ICC clears Zimbabwe's Vitori
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Freda Rebecca gold production falls
24/04/2014 00:00:00
by Business Reporter
 
Current focus on mining and processing efficiencies ... Kalaa Mpinga
 
RELATED STORIES
Red tape delays Freda Rebecca payments
Trojan restart boosts Mwana Africa
Freda Rebecca gold output up 19pc
Musanhi acquires Freda Rebecca stake

GOLD output at Freda Rebecca fell year-on-year, but increased over the previous quarter, the mine’s holding company, Mwana Africa announced this week.

Year-on-year, gold production was weighed down by the failure of a leach tank in the first quarter, which affected mill throughput and recovery, with total gold production falling 10.5% to 58 704 oz.

However, a combination of improved milled tonnes and feed grade resulted in gold production rising by 2% during the quarter under review to 13,380 oz, compared with the 13,072 oz reported during the previous quarter.

While the hike led to a decrease in cash operating costs from $1 066/oz during the quarter to December to $1 053/oz in the March quarter, all-in sustaining costs increased 3% from $1 291/oz in the previous quarter to $1 325/oz in the quarter under review.

This was the result of a 10% hike in the asset amortisation charge owing to the continuing commissioning of the tailings retreatment project pilot plant.

Production of nickel in concentrate at subsidiary Bindura Nickel Corporation’s (BNC’s) Trojan mine rose 9.5% quarter-on-quarter to 2,207 t.

The higher tonnage mined during the March quarter marked continued progress towards a steady state of 195 000 t a quarter, while the increase in tonnes milled indicated more consistent, efficient operation of the mills.

The company reported an increase in all-in sustaining cash costs from $11,819/t to $12,220/t during the three months to March, as a result of continued production ramp-up and the shaft re-deepening.

Nickel sales for the quarter reached 2 250.2 t, achieving a 1.5% increase in the average nickel price to $14 075/t.

“We anticipate that at Freda Rebecca, the current focus on mining and processing efficiencies, and at BNC, continued progress by [the] Trojan mine towards steady-state and stronger mill performance, will deliver further operational improvements for the group in the year ahead,” Mwana Africa CEO Kalaa Mpinga said.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker