Sibanye Gold's Driefontein gold mine
Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – The operating profit of Sibanye Gold was maintained at R4-billion in the six months to December 31, when gold production was 6% lower than for the six months ended December 31, 2014, at 822 100 oz or 25 571 kg.
The JSE-listed company’s all-in sustaining cost (AISC) margin increased to 16% from 13% on net debt of R1.4-billion, which was down on the R1.7-billion of June.
An all-time-low fatal injury frequency rate of 0.06 for every million person hours for the year was recorded.
Gold reserves increased by 9% to 31-million ounces.
AISC of $941/oz or R411 795/kg were achieved on total cash costs (TCC) of $775/oz or R339 017/kg.
The 411 500 oz or 12.799 kg of gold produced in the three months to December 31 was up on the September 2015 quarter.
During the December quarter TCC fell 6% to $720/oz or R329 166/kg and AISC decreased by 4% to $882/oz or R402 797/kg, resulting in a TCC and an AISC margin of 35% and 20% respectively.
The mines were largely unaffected by labour unrest or safety stoppages during the December 2015 quarter.