News11 Sep 2014 22:43
Mwana gold production up at reduced cost, nickel production rising
Multicommodity miner Mwana Africa produced 11 314 oz of gold at its Freda Rebecca mine, in Zimbabwe, during July and August at a reduced cash cost of $854/oz, compared with an average cost of $1 078/oz during the three months ended June, Mwana CEO Kalaa Mpinga said on Wednesday.
This represented a 21% decline in costs quarter-on-quarter, he said.
All-in sustaining costs (AISC) for July and August averaged $1 088/oz, mostly owing to increased production and reagent optimisation.
Production for September was forecast at 5 000 oz, based on improved mill throughput, availability and feed grade, all of which were sustainable, Mpinga said.
He added that all of the updates and adjustments to the mine’s production facilities had now been completed and that Freda Rebecca’s sole focus now was maintaining current cost levels and the continuous monitoring of efficiencies.