Mwana Africa production up 119pc

Business Reporter
Mwana Africa-owned Freda Rebecca Mine produced 17 536 ounces of gold in the last quarter while 1 505 tonnes of nickel were sold from Trojan, representing an increase of over 119 percent compared to the previous quarter. In a quarterly review, Mwana Africa said gold production at Fred Rebecca had gone up 19 percent from the previous quarter. The company also managed to cut down costs per ounce of gold produced to $837 down from $949.

Mwana said operations at Trojan were progressing well following the restart and underground production was ramped up, resulting in a 38% increase in tonnage over the previous quarter.

Nickel in concentrate sales increased by 119 percent from the previous quarter.
Mwana Africa chief executive Mr Kalaa Mpinga said the group’s operations had stabilised following various cost cutting initiatives.
“Operationally, this has been a very pleasing and positive quarter for the company. At Freda Rebecca, the company has enjoyed a significant 19% uplift in gold production compared to the previous quarter.

“Once again Zani Kodo continues to demonstrate its substantial potential, following yet another upgrade of its gold resource. While at Trojan, the BNC team completed a new mine plan to maximise returns and improve cashflows by targeting the higher grade “massive” zones.

“The results thus far have been very pleasing with record production months being recorded in this quarter. SRK has also confirmed that the new mine plan is “realistic and achievable” and I would personally like to thank all those involved for their considerable efforts.
“In conjunction with these operational achievements, the company has successfully planned for and executed a strategy to de-risk the company’s future development following the implementation of a number of cost saving initiatives and two share placings.

“The company is now stabilised and able to focus on delivering value on all of our projects,” he said.
Mwana Africa is an Africa-focused resource company with operation in Zimbabwe, Democratic Republic of Congo and South Africa.