Freda Rebecca gold output up 9 percent

Gold production at Mwana Africa’s Freda Rebecca was up by nine percent to 14 298 ounces for the full year to 31 December from 13 072oz during the same period in 2013, the chief executive Kalaa Mpinga has said.

In a presentation to the Mining Indaba in Cape Town, South Africa this week, Mpinga said tonnes milled rose by 20 percent to 322 216 oz compared to 258 184 oz in the same period.

The gold prices were low at $1 195/oz from $1 255/oz in 2013 while all-in sustaining cost were marginally up by a percent to $1 304/oz.

Cash cost under review rose by five percent to $1 118/oz from $1 066/oz.

Production of nickel in concentrate at Trojan mine was low by 45 percent to 1 383 tonnes from 2 016 tonnes in the same period and the group said the equipment upgrade is nearing completion.

Head grade was lower at 1.156 percent compared to 1.730 percent in 2013.

The average nickel price was 13 percent higher to $15 867/tonne compared to $13 870/t and the company cited that  price for nickel in leach alloy are better than in concentrate.

Cash costs increased by 31 percent to $16 214/t compared to $11 181/t.

Recoveries were nine percent lower to 80.5 percent from 87.5 percent in 2013 while nickel sales were 90 percent lower to 1 395t.- The Source

(314 VIEWS)