Miner reports higher H1 gold production
Africa-focused Metallon Corporation produced 23 759 oz of gold in the second quarter, bringing its production for the first half of the year, ended June 30, to 48 143 oz.
This was 6% higher than the 45 524 oz produced in the first half of 2014, despite a loss of nine production days in January, owing to a hoist motor failure at its Zimbabwe-based How mine’s North shaft and a planned 12-day shutdown of underground ore hoisting in April to replace the 25 Level loading station infrastructure.
The company also faced a shortfall at its Mazowe mine, near Harare, owing to challenges involving equipment in the crushing and milling plants, while it lost 21 days in April at its Arcturus mine as a result of a breakdown of the Chikomo hoist.
A plan to recapitalise the mine and restructure the management team was being implemented, with two new locomotives, two new airloaders, secondary crushers and slurry pumps having already been bought. These were expected to lead to an improvement in production over the coming months.
“In this volatile gold price environment, our main focus is to maintain a low debt position and negotiate down the current cost of interest repayments.
“We continue to engage with financial institutions for capital expenditure funding and are confident that funding at significantly lower cost will be available in the next few weeks,” the company said in a statement, adding that it planned to spend about $20-million on new projects in the year ahead.
All-in sustaining costs for the first half of the year were $1 064/oz.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
