HomeBusiness DigestFreda Rebecca gold output up 34%

Freda Rebecca gold output up 34%

MWANA Africa’s Freda Rebecca gold output rose 34% to 18 350 ounces in the nine months to September 2012, buoyed by an increase in milled tonnage and improved recoveries.

Report by Gamma Mudarikiri

Mined tonnage increased to 306 715 tonnes in the same period from the 258 789 tonnes recorded in the previous quarter to June.

Freda Rebecca achieved recoveries of 83% for the quarter, the highest average recoveries this year.

Gold sales increased to 18 350 ounces from 17 985 ounces and was sold at an average price of US$1 677 per ounce, marginally improving from US$1 604 in the same period the previous year. Cash costs, excluding capital costs for exploration, processing mill capital works and the cost of royalties, reduced to US$797 compared to US$815 in the same period last year.

“Underground tonnes mined improved during the quarter as a result of improved availability of mine equipment and the delivery of two new LHDs (loader hauler dumpers) as part of a programme to recapitalise the underground fleet,” the company said.

Freda Rebecca’s performance continues to improve, with record quarterly production since operations restarted in 2009.
Average monthly production for the quarter was 6 117 ounces.

Mwana Africa added the 36 335 ounces in the six months to June, representing a 65% improvement on the comparable period last year with the current rate of production reflecting an annualised rate of 72 000 ounces per annum.

The group said additional maintenance on mill 2 was completed during the quarter and consequently improved performance.

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