adminounces per month and is on course to reach phase two annual output of 50 000oz.
In a statement, the Alternative Investment Market-listed diversified resources firm said Freda’s monthly production was 30 percent ahead of the phase one production rate in three months to May this year.
“In the three months to May average monthly gold production was 3 363oz. Now, following completion of the phase two construction and commissioning of the second mill, Freda is well-positioned to expand its processing capability and reach the targeted phase two annualised gold production rate of 50 000oz per annum,” said the statement.
Mwana chief executive Mr Kalaa Mpinga said the phase two expansion programme had been completed “on schedule and on budget”.
“Freda Rebecca is an ongoing success story for Mwana Africa in Zimbabwe. The completion of the refurbishment of the second milling circuit is a significant milestone for the company in its efforts to increase its gold production capability in line with our focused strategy of phased growth,” he said.
“The investment in Freda Rebecca and the performance of the team at the mine over the last 18 months demonstrates our commitment to Zimbabwe and our ability to operate successfully in the country.”
The phase two expansion programme at Freda Rebecca comprised the overhaul and refurbishment of the second milling circuit and its associated Carbon-In-Pulp/Carbon-In Leach sections including:
Freda, alongside other gold producers in Zimbabwe, was forced to suspend operations in 2008 owing to economic instability.
At that time, gold producers were forced to sell all their production to the Reserve Bank of Zimbabwe’s Fidelity Printers.
It is alleged that payments on gold sales would go missing or would be delayed to the extent that the rampant inflation would render them worthless by the time they were eventually paid out.
Most gold mines, including Freda, restarted production in 2009, after the adoption of the multi-currency system and the formation on the inclusive Government.
Before the closure, Freda was producing 98 000oz of gold, worth about US$90 million a year.
Online Reporter