Freda Mine Resumes Gold Production

PRODUCTION has resumed at Freda Rebecca Mine with 180 ounces of gold ore produced on Tuesday after the successful completion of phase one refurbishment of the mine.

Gold dore is a bar of semi-purified gold, for example bullion which is the product of the first process of the purification of the metal.
Resumption of production at Freda Rebecca comes at a time when Mwana Africa, the holding company, announced that it was close to finalising the financing of its project at the nearby Bindura Nickel Corporation. 
Production rates from phase one of Freda Rebecca Mine were forecasted to increase to 30 000 ounces of gold a year by the end of 2009.
“Planning for Phase 2 of the refurbishment programme, which is expected to increase output to in excess of 50 000 ounces of gold per year, is well advanced,” said the company on Tuesday. “This will involve the rehabilitation of the second milling circuit and an increase in the capacity of underground mining equipment.”
Kalaa Mpinga, chief executive officer of Mwana, said the production of the first gold pour marks a turning point in the company’s endeavour to rebound production.
“The first gold pour marks a significant milestone in the redevelopment of our assets in Zimbabwe and I would like to pay tribute to the application and dedication of our management team and staff who have made this possible,” said Mpinga.
Developments on the gold fields would send right signals which would assist Mwana Africa’s efforts to raise funds for the operations of the much bigger project at Bindura Nickel Corporation, said Mpinga.
BNC is the only integrated nickel miner, smelter and refinery in Africa and it shut down last November due to low nickel prices and operational problems.
Mwana Africa wants to resume production at the nickel mine mainly because the metal prices have been firming and at the same time there is a much-improved operating environment in the country.
Mpinga told the international media that there was a possibility for equity funding and at the same time they had received enquiries from Chinese and Indian parties regarding offtake agreements.

 

Leonard Makombe

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