Metallon lifts Q2 production by 9%
JOHANNESBURG (miningweekly.com) – Africa-focused Metallon Corporation produced 22 565 oz of gold in the second quarter of this year – a 9% quarter-on-quarter increase – mainly as a result of the performance of its How mine, in Zimbabwe.
The higher output comes despite power interruptions that led to Metallon losing 112 hours, or 1 700 oz, of production in the second quarter.
Net direct cash costs were $764/oz and all-in-sustaining costs $971/oz, an improvement of 14% and 16% compared with the first quarter, owing to higher production and cost savings from overtime control and central procurement.
The gold miner on Wednesday reaffirmed its 120 000-oz production target for the full year, while giving an overview of its various infrastructure upgrades.
“The new processing plant at Mazowe is 80% constructed, with all key equipment on site and we have confirmation from our contractors that the plant will be commissioned in the fourth quarter.
“The appointment of contract miners at Shamva mine and ramp-up at Redwing mine will also provide increased production in the second half of the year,” commented CEO Ken Mekani.
A new tailings storage facility will be commissioned at Shamva in the fourth quarter of this year.
Meanwhile, at How, the deepening of the 16N7 Shaft to increase ore supply is under way. The shaft deepening from 28 level to 34 level is to access ore below 28 level which, will increase future production. Commissioning of the deepened shaft is expected in 2018.
“This large capital expenditure programme over the next few years will considerably increase our production and generate future revenue,” noted Mekani.
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