https://www.engineeringnews.co.za

Alacer ups gold output in March quarter

Alacer Gold's Çöpler mine

Alacer Gold's Çöpler mine

2nd May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Dual listed gold miner Alacer Gold has reported a 15% increase in gold production during the three months to March, compared with the previous corresponding period.

The Çöpler mine, in Turkey, produced 37 875 oz of gold during the March quarter, compared with 32 918 oz in the previous corresponding period, with gold sales increasing from 34 804 oz to 42 131 oz over the same period.

Gold sales for the quarter generated revenues of $56.3-million, which was a 31% increase on the first quarter of 2017, reflecting not only the 21% increase in gold ounces sold, but also a 9% increase in the realised gold price.

“A good start to the year from our oxide operations with 37 875 oz of gold production generating robust operating cashflow at all-in sustaining costs (AISC) of $737/oz,” said Alacer president and CEO Rod Antal.

“Production and costs are tracking in line with guidance as we progressively transition from oxide to predominantly sulphide ore in the second half of the year.”

The sulphide project is some 85% complete, with commissioning under way. Alacer said that the project is advancing on schedule to start production in the third quarter of 2018, and will be delivered under budget.

The sulphide project will bring Çöpler’s remaining life-of-mine gold production to around four-million ounces at an AISC of $645/oz, and will add around 20 years of production at Çöpler.

The project, to date, has incurred costs of $52-million, with the capital cost estimate reducing from $744-million to $692-million.

 

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







sq:0.072 0.128s - 156pq - 2rq
Subscribe Now