This comes at a time when RioZim has reported that gold production at Renco Mine, Masvingo, is set to increase to 80kgs a month from the current 60kgs.
New Dawn Mining said gold production for September was 1 029 ounces which translates to 32kgs which is a slight improvement on the 1 019 ounces which is equivalent to 31,7kgs produced in August.
An increase in production last month marks the sixth consecutive month that the mining company has recorded an improved output.
Last month, New Dawn Mining realised US$965 900 from the sale of around 977 ounces of gold which was selling at an average price of US$988 per ounce of the yellow metal in September
“We are well on our way to achieving our first sustainable production target of 1 200 ounces of gold per month or between 14 000 and 15 000 ounces of gold on an annualised basis,” commented Ian Saunders, president and CEO of New Dawn Mining. “We believe that New Dawn is well-positioned to move forward over the near-term with its plans for increased production and exploratory activities in Zimbabwe.”
New Dawn Mining last month announced that it was disposing
of its operations in South Africa so that it would focus more on production and exploratory activities in Zimbabwe.
Saunders added that as at the end of September the company had an additional 733 ounces or 22,8kgs of gold which were to be exported for sale in South Africa.
At the end of August, the mining company had 770 ounces of the yellow metal which awaited exportation to South Africa.
Another gold producer, RioZim, last week announced that it was targeting an output of 80kgs of the precious metal by the end of the year. — Staff Writer.