Acacia’s production rebounds sharply in second quarter
Tanzanian gold producer Acacia Mining achieved a 51% quarter-on-quarter increase in production in the second quarter.
This follows the successful implementation of a revised mining plan at the North Mara underground and openpit operations, which resulted in an 80% quarter-on-quarter increase in output at North Mara during the second quarter, Acacia interim CEO Peter Geleta pointed out on Monday.
He commended the achievement of a strong second quarter across all three of the company’s mines, which also include Bulyanhulu and Buzwagi, despite the continued challenging operating environment.
Overall, the company achieved gold production of 158 774 oz in the second quarter with a particularly strong quarter from North Mara, which set a monthly production record of 47 849 oz for June.
Geleta said Acacia remained confident of achieving production within its guidance of 500 000 oz to 550 000 oz for the full-year.
Gold ounces sold for the quarter of 143 325 oz were 10% below production owing to the timing of the company’s gold shipments from North Mara, which had been weighted towards the end of June.
Acacia will release its financial results for the second quarter on August 7.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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