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.