Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye Gold expects its gold output to increase to 1.58-million ounces for 2014.
This would include about 158 000 oz of gold from the Cooke Operation, which would be consolidated into Sibanye from this month.
The gold miner had produced 1.43-million ounces of gold last year.
Total cash cost, including the Cooke Operation, would increase from R270 000/kg, or $800/oz, to R285 000/kg, or $845/oz, while its all-in cost would rise from R360 000/kg, or $1 070/oz, to R365 000/kg, or $1 080/oz.
Further, the company, which on Wednesday presented a strategic, technical and operational update to investors, analysts and the media, also reported that its headline earnings a share for the six months ending June 30 would likely be 20% lower than that of the first half of the previous year.
This was owing to an increase in the weighted average number of shares in issue.