https://www.miningweekly.com

Trans-Siberian hits production records

22nd January 2019

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

LSE-listed Russian miner Trans-Siberian Gold (TSG) has achieved quarterly and yearly gold production records at its Asacha gold mine, producing 13 069 oz in the December quarter, taking full-year output to 42 128 oz.

The company indicated that its gold production would be between 40 000 oz and 44 000 oz in 2019.

“The success of the ongoing improvement measures that have been implemented by our operational team in Kamchatka gives us a strong basis for higher levels of gold production and value creation in 2019,” TSG CEO Alexander Dorogov noted in a statement on Tuesday.

The fourth-quarter output was an 11% quarter-on-quarter improvement and a 6.7% year-on-year improvement. The gold grade improved to 9.1 g/t in the fourth quarter and gold sold increased by 80% quarter-on-quarter to 16 399 oz.

For 2018, it also recorded an 11.9% increase in gold grade, from 6.6 g/t to 7.4 g/t, 35.7% increase in gold sold to 45 956 oz and a 37.6% increase in total estimated revenue to $59.8-million.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION