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(Alliance News) - Resolute Mining Ltd on Friday maintained its annual production guidance and said that sulphide processing circuit at the company's Syama gold mine in Mali is expected to be back online by early to mid-December.
Shares in the company were up 12% at 72.85 pence each in London on Friday morning.
The Australia- and Africa-focused gold miner said the sulphide roaster, a key component of the Syama sulphide processing circuit, is expected to be repaired and fully operational in approximately six weeks' time. The roaster was taken offline due to detection of a crack.
A detailed inspection of the main roaster has been completed, Resolute said, and a repair program costing USD5 million is now underway. The preferred repair methodology is to install a secondary steel shell to the defective area where the crack has occurred, the company added.
Earlier in October, Resolute Mining said the roaster was successfully brought back into service following September maintenance and repair work, however, upon reheating and under normal operational loads, a crack was observed in the external shell of the roaster.
The Perth, Australia-headquartered company said it is also separately conducting a full structural and operational assessment of the roaster and all associated infrastructure and production handling systems, which is expected to reduce the planned number of days that the roaster will be offline for maintenance in 2020.
The company intends to offset the lost production from the sulphide circuit by processing oxide material through the Syama sulphide circuit carbon in leach processing plant.
Resolute has retained its 2019 production guidance of 400,000 ounces of gold.
By Tapan Panchal; tapanpanchal@alliancenews.com
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