Nordgold meets FY targets, on track to start another Burkina Faso mine this year
JOHANNEBSURG (miningweekly.com) – LSE-listed Nordgold has met its full-year production guidance – delivering output of 950 000 oz for 2015 – and expects to increase output to 1.01-million ounces in 2016.
This came om the back of a 21% quarter-on-quarter increase in production to 241 000 oz for the fourth quarter of the year.
“We have again delivered on our objectives for the year, achieving solid production results, while maintaining our sharp focus on costs.
“Our strong balance sheet, with no major debt payments due until 2018, and consistent free cash flow generation, enable us to continue investing in our exciting pipeline of low-cost development projects, while delivering robust returns to our shareholders, despite the weaker price environment,” CEO Nikolai Zelenski commented.
Nordgold’s consolidated all-in sustaining costs (AISC) for 2015 were $790/oz – in line with guidance of $750/oz to $800/oz. AISC for 2016 would be between $800/oz and $850/oz.
Meanwhile, Zelenski noted that construction of the miner’s 120 000 oz/y Bouly mine construction, in Burkina Faso, was firmly on track and, as such, the company expected production to start in the second half of the year.
Nordgold’s Bissa and Taparko mines, in Burkina Faso, produced 235 300 oz and 83 200 oz of gold respectively in 2015, while the Lefa mine, in Guinea, produced 214 200 oz.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation