JOHANNESBURG (miningweekly.com) – Gold miner Metallon Corporation has delivered lower gold production in the year to December 31; however, it achieved record output for the month.
The company, which had producing assets in Zimbabwe and exploration assets in Zimbabwe, Tanzania and the Democratic Republic of Congo, produced 96 530 oz of gold in 2015 – 2.4% less than in 2014.
However, fourth-quarter gold output increased 1.6% to 24 390 oz – with 10 331 oz achieved in December alone – compared with the 23 999 oz recorded in the third quarter.
“2015 was an exciting and promising year for Metallon and the management team have been focused on making significant improvements to the business.
“Despite gold production for 2015 being marginally below that of 2014, we believe that advances made during the year will ensure Metallon is well positioned for future production growth,” CEO Ken Mekani said on Friday.
The company had successfully resumed production at the Redwing mine, with 814 oz produced in 2015. Ramp-up would continue over the next six months to bring the mine to full production, delivering 1 600 oz a month.
Full-year gold production was hampered by equipment breakdowns at the How, Shamva, Mazowe and Arcturus mines; increased power interruptions resulting in 1 000 hours of lost production and impacting underground production and plant processes; and a delay in the commissioning of the Mazowe Sands retreatment project owing to unforeseen equipment delays.
The Mazowe Sands retreatment project was almost complete and commissioning was expected in the second quarter of 2016.
“In 2016, the focus will be on the commissioning of the Mazowe Sands retreatment plant and the Mazowe and Shamva tailings facilities and on exploration,” he said, pointing out that the exploration programme was expected to upgrade more of the company’s 9.6-million resource into the measured and indicated categories.
Meanwhile, the company on Friday said nonexecutive deputy chairperson Mzi Khumalo would succeed nonexecutive chairperson Sir Nicholas Bonsor, who was retiring.
Khumalo would be tasked with continuing the development of Metallon’s corporate strategy and advising the company through to its next stage of growth.
Bonsor had served as nonexecutive chairperson of the company since March 2011.
Further, Dr Tomaz Salomão would replace nonexecutive director and audit committee chairperson Robert Robertson, who was also retiring.