Home » Business » Freda Rebecca Gold Output Down 10 Percent

FREDA Rebecca’s gold production for the year ending 31 March 2014 declined 10.5 percent to 58,704oz over same period last year, parent company Mwana Africa has said.

The group said Freda Rebecca gold mine milled a record 1.06Mt in the period and has now reached its name plate mill capacity.

However, projects are under way that will allow production to increase further. In a statement Wednesday, Mwana said the variance was a result of a leach tank failure in the last quarter of FY2013, which affected recovery during the first quarter of 2014.

“The failed leach tank was replaced during the past year and a new, additional leach tank has also been commissioned and recoveries have now been restored.”

Overall production was affected by lower head grades and mechanical problems with the mills during the latter part of the financial year. During the year, mill head grade was 20 percent down at 2.10gt on the previous year’s 2.64 gt. Mwana said this head grade decline was in part compensated by an improvement in mill recovery to 82.35 percent from 81.0 percent. For the year as a whole, the mill head grade of 2.10gt was 20 percent down on the previous year’s 2.64 gt. This head grade decline was in part compensated by an improvement in mill recovery to 82.35 percent from 81.0 percent. Freda Rebecca said cash cost per ounce of gold remained below 1,186 U.S. dollars.

“The average gold price for the entire year, by the fourth quarter all-in sustaining costs (C3) were close to the gold price, due to the operation not achieving its volume targets.” The gold price in the period averaged 1 319 U.S dollars against 1 654 U.S dollars last year. The group is looking at developing its tailings dump.

Since 1988, when Freda Rebecca produced its first ore and gold, the mine has accumulated some 13 million tonnes of gold-bearing tailings in three main storage facilities within the mine lease area. Mwana said Freda Rebecca will continue to focus on mining and processing efficiencies, particularly on increasing plant throughput and recovery improvement. Aertisement

Source : New Zimbabwe

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